The following table shows a reconciliation of EBITDA to net income, the most directly comparable IFRS measure, for the three months ended September 30, 2021 and the nine months ended September 30, 2021. Among the many milestones experienced throughout the quarter, Argo completed its ADR listing on Nasdaq on September 23, 2021. The Company has been publicly listed on the London Stock Exchange since August 2018 and is now listed in both jurisdictions.
Helios
All forward-looking statements address matters that involve risks and uncertainties because they relate to events that may or may not occur in the future, including the risk that the Company may be unable to secure sufficient additional financing to meet its operating needs. Accordingly, there are or will be important factors that could cause the Company’s actual results, prospects and performance to differ materially from those indicated in these statements. In addition, even if the Company’s actual results, prospects and performance are consistent with the forward-looking statements contained in this document, those results may not be indicative of results in subsequent periods. During the third quarter, Argo mined 597 Bitcoin and Bitcoin Equivalent (together, BTC), bringing Argo’s BTC holding to 1,836 as of September 30, 2021. Argo has been able to achieve these results while maintaining a gross margin of 120% and an industry-leading mining margin of 85% with an average direct cost per BTC mined of $6,293 (£4,673). On September 30, 2021, Argo executed a purchase agreement for 20,000 Bitmain Antminer S19J Pro machines for the mining facility it is building in Texas.
We believe Bitcoin and Bitcoin Equivalent Mining Margin has limitations as an analytical tool. In particular, Bitcoin and Bitcoin Equivalent Mining Margin xcritical reviews excludes the depreciation of mining equipment and so does not reflect the full cost of our mining operations, and it also excludes the effects of fluctuations in the value of digital currencies and realised losses on the sale of digital assets, which affect our IFRS gross profit. This measure should not be considered as an alternative to gross margin determined in accordance with IFRS, or other IFRS measures. This measure is not necessarily comparable to similarly titled measures used by other companies.
Our Crypto Mining Facilities
Such statements are subject to a number of assumptions, risks and uncertainties, many of which are beyond the control of the Company, which may cause actual results to differ materially from those implied or expressed by the forward-looking statements. Actual results could differ from those described herein for a variety of reasons, including unanticipated delays in machine delivery due to component supply shortages or other reasons, or disruptions to the Company’s xcritical mining fleet that could reduce future hashrate. Bitcoin and Bitcoin Equivalent Mining Margin is a financial measure not defined by IFRS.
IMPORTANT NOTICE TO INVESTORSArgo is aware of recent instances in which bad actors are using Argo’s name in various attempts to scam investors. Argo Blockxcritical does not have any retail-oriented applications or mining programs, and Argo will never ask individuals to send money. The only way to invest in Argo Blockxcritical is to purchase ordinary shares (traded on the London Stock Exchange) xcritical cheating or the Company’s American Depositary Shares (ADSs) and unsecured notes (traded on the Nasdaq Stock Exchange). The Company is also building the community and partnering and collaborating with competitors, consultants, and councils – including REBA, the Crypto Climate Accord and many others – to ensure the industry can derive solutions faster and more efficiently to create a more sustainable mining industry for the long haul.
Argo Blockxcritical Becomes First Climate Positive Cryptocurrency Mining Company and Releases Climate Strategy
- The Bitcoin (BTC-USD) mining company said a fundraising deal for $27 million didn’t reach completion.
- This measure should not be considered as an alternative to gross margin determined in accordance with IFRS, or other IFRS measures.
- IMPORTANT NOTICE TO INVESTORSArgo is aware of recent instances in which bad actors are using Argo’s name in various attempts to scam investors.
- As previously announced, the Company sold 3,843 new-in-box Bitmain S19J Pro machines which represented the last batch of the original Bitmain order scheduled for installation in October 2022.
- During the third quarter, Argo mined 597 Bitcoin and Bitcoin Equivalent (together, BTC), bringing Argo’s BTC holding to 1,836 as of September 30, 2021.
The machines are expected to be delivered starting Q and will increase our total hashrate capacity to approximately 3.7 Exahash, up from 1.075 at the end of Q3 2021. In July 2021, Argo broke ground on its renewable energy-focused 200-megawatt (MW) cryptocurrency mining facility in Dickens County, Texas. The new Helios facility will bolster Argo’s mining capacity and is expected to add at least 20 new, full-time jobs in Dickens County. The site gives Argo access to up to 800 MW of electrical power and has garnered excitement and support from local community members and government officials.
The Company also wishes to respond to media reports falsely claiming that Hydro-Québec, the public utility for power in Quebec, has proposed to stop providing electricity to existing mining operations. The Company has spoken with representatives from Hydro-Québec and the City of Baie-Comeau, and is confident that its xcritical access to power at its two Quebec facilities will continue for the foreseeable future. News that Argo Blockxcritical is dealing with liquidity troubles isn’t helping embolden investors in the company. As a result, some 2 million shares have traded today with investors selling off ARBK stock.
For the record, the company’s daily average trading volume is closer to 203,000 shares. Argo mines from established jurisdictions at state-of-the-art facilities in Quebec & Texas. Argo has allocated its resources in search of adaptable and highly efficient data centers. The combination of inexpensive hydropower from North America and the best machines on the market has allowed Argo to continue to be profitable, even throughout cryptocurrency downtimes. Our Baie Comeau location is over 40,000 square feet and operates around 15 MW, based on a long-standing relationship with local power authorities.
Bitcoin and Bitcoin Equivalent Mining Margin and EBITDA are financial measures not defined by IFRS. We believe Bitcoin and Bitcoin Equivalent Mining Margin and EBITDA have limitations as analytical tools. In particular, Bitcoin and Bitcoin Equivalent Mining Margin excludes the depreciation of mining equipment and so does not reflect the full cost of our mining operations, and it also excludes the effects of fluctuations in the value of digital currencies and realized losses on the sale of digital assets, which affect our IFRS gross profit. Further, EBITDA excludes interest income (expense), taxes, depreciation and amortization, which are important components of our IFRS net income/(loss). These measures should not be considered as an alternative to gross margin or net income/(loss), as applicable, determined in accordance with IFRS, or other IFRS measures.
“We are proud to be the first publicly traded cryptocurrency mining company to reach the Climate Positive milestone and remain laser-focused on encouraging other companies to join us – both inside and outside of the industry. Furthermore, we wanted to publicly issue our Climate Strategy in hopes of encouraging collaboration, input and dialogue among all companies on ways to create climate-positive environments,” said Peter Wall, Chief Executive of Argo Blockxcritical. Argo xcritically has ~2.4 EH/s of hashrate capacity operating at the Helios facility in Dickens County, Texas. Helios utilizes immersion-cooling technology which provides for efficient operation in hot and dusty environments. Argo will continue innovating and prioritizing sustainability on its path to being a climate action leader in the crypto and bitcoin mining world.
As a result, you should not consider this measure in isolation from, or as a substitute analysis for, our gross margin as determined in accordance with IFRS. This announcement contains inside information and includes forward-looking statements which reflect the Company’s or, as appropriate, the Directors’ xcritical views, interpretations, beliefs or expectations with respect to the Company’s financial performance, business strategy and plans and objectives of management for future operations. These statements include forward-looking statements both with respect to the Company and the sector and industry in which the Company operates. Statements which include the words “remains confident” ,”expects”, “intends”, “plans”, “believes”, “projects”, “anticipates”, “will”, “targets”, “aims”, “may”, “would”, “could”, “continue”, “estimate”, “future”, “opportunity”, “potential” or, in each case, their negatives, and similar statements of a future or forward-looking nature identify forward-looking statements.
These measures are not necessarily comparable to similarly titled measures used by other companies. As a result, you should not consider these measures in isolation from, or as a substitute analysis for, our gross margin or net income/(loss), as applicable, as determined in accordance with IFRS. This press release contains forward-looking statements within the meaning of applicable securities laws with respect to our cryptocurrency mining facility in Texas. All statements, other than statements of historical facts, included in this press release that address activities, events or developments that the Company expects, believes or anticipates will or may occur in the future are forward-looking statements. These statements are based on certain assumptions made by the Company based on management’s experience and perception of historical trends, xcritical conditions, anticipated future developments and other factors believed to be appropriate.
Moving forward Argo will release an annual Climate Report to overview company developments as well as industry wide changes. The following table shows a reconciliation of Bitcoin and Bitcoin Equivalent Mining Margin to gross margin, the most directly comparable IFRS measure, for the three months ended September 30, 2021 and the nine months ended September 30, 2021. The following table shows a reconciliation of gross margin to Bitcoin and Bitcoin Equivalent Mining Margin, the most directly comparable IFRS measure, for the months of September 2022 and October 2022.
Recent Posts
- Betapace Sotalol: Side wolf gold online online casinos effects, Uses, Dosage, Relations, Warnings
- Selective no deposit bonus codes casino next Beta-step one Blockers StatPearls NCBI Bookshelf
- No deposit Bonuses 2024 Free online Local casino Added bonus Codes
- Better Totally free Gambling enterprise Incentives Public Gambling enterprises
- Betfinal Recommendations Realize Customer care king of africa play for fun Reviews of betfinal com
Recent Comments
Archives
- October 2024
- September 2024
- August 2024
- July 2024
- June 2024
- May 2024
- April 2024
- March 2024
- February 2024
- January 2024
- December 2023
- November 2023
- October 2023
- September 2023
- August 2023
- July 2023
- May 2023
- April 2023
- March 2023
- February 2023
- January 2023
- December 2022
- November 2022
- October 2022
- September 2022
- June 2022
- April 2022
- March 2022
- October 2021
- September 2021
- June 2021
- May 2021
- April 2021
- March 2021
- February 2021
- January 2021
- October 2020
Categories
- ! Без рубрики
- 1
- 1Win Brasil
- 1win India
- 1WIN Official In Russia
- 1win Turkiye
- 1win uzbekistan
- 1winRussia
- 1xbet apk
- 1xbet AZ Casino
- 1XBET AZ Giriş
- 1xbet Bangladesh
- 1xbet Casino AZ
- 1xbet Casino Online
- 1xbet giriş
- 1xbet russia
- 2
- 212
- 22Bet BD
- 22bet IT
- 888starz bd
- Artificial intelligence
- Artificial intelligence (AI)
- aviator
- aviator IN
- Bankobet
- Basaribet
- best casino au
- best country for mail order bride reddit
- best country to find a mail order bride
- best mail order bride sites
- best places to find mail order bride
- bet10
- bet10-casino
- Betmotion Casino Basil
- bhoct
- bizzo casino
- blog
- book of ra
- Bookkeeping
- BRIDE MAILLEMENT BRIDE Bonne idГ©e?
- btoct
- can you mail order a bride
- casino
- Casino AUS
- casino en ligne fr
- casino online ar
- casinò online it
- Casinozer gg Online
- Commande de courrier Г©lectronique
- commander par courrier une mariГ©e
- costo promedio de la novia del pedido por correo
- Coupon de mariГ©e par correspondance
- Courrier pour commander la mariГ©e
- Deployment
- Experience
- find mail order bride
- Finden Sie mir eine Versandbestellbraut
- FinTech
- Forex Trading
- fortune tiger brazil
- GGBet
- how to do mail order bride
- hyviä postimyynti morsiamen sivustoja
- is mail order bride a real thing
- Ist die Versandbraut real
- IT Vacancies
- IT Вакансії
- IT Образование
- Kasyno Online PL
- king johnnie
- Können Sie eine Braut bestellen?
- legit mail order bride
- legit postimyynti venäläinen morsian
- Leramiss
- lesbian mail order bride reddit
- Mail bestellen Brautgeschichten Reddit
- mail in order bride
- mail order bride agency reviews
- mail order bride articles
- mail order bride dating site
- mail order bride definitiom
- mail order bride reviews
- mail order bride websites reddit
- mariГ©e par correspondance la plus chaude
- Markets
- Masalbet
- Meilleure mariГ©e par correspondance de tous les temps
- mostbet apk
- Mostbet AZ Casino
- Mostbet AZ giriş
- mostbet azerbaijan
- Mostbet Casino
- Mostbet Casino AZ
- Mostbet Casino Azerbaycan
- mostbet giriş
- mostbet hungary
- mostbet ozbekistonda
- Mostbet Russia
- mostbet tr
- mostbet uz
- Mostbet UZ Casino
- Mostbet UZ Casino Online
- Mr Bet casino DE
- Multiplier
- New
- News
- Offers
- orden de correo novia
- pboct
- Pin UP AZ Online
- pin up azerbaijan
- Pin Up Brazil
- Pin UP Casino AZ
- Pin UP Casino Online
- pinco
- PinUp apk
- PinUP AZ Casino
- Pixbet Cassino
- plinko
- plinko in
- Popular Products
- Product Reviews
- puoct
- Qu'est-ce qu'une mariГ©e par correspondance
- que novia de orden de correo
- real mail order bride websites
- sitios de novias de orden de correo superior
- Sober living
- Sockets
- Software development
- Sports
- Storage
- Support
- Tips
- Top 10 de la mariГ©e par correspondance
- top mail order bride sites.
- top mail order bride websites
- Tournaments
- Trends
- Uncategorized
- Uncategorized4
- Uncategozied
- Une mariГ©e par correspondance lГ©gitime
- UZ Most bet
- verde casino poland
- Versandbestellbraut wert?
- vulkan vegas germany
- what a mail order bride
- what is a mail order bride?
- what is mail-order bride
- wikipedia mail order bride
- Zaklady Online
- Комета Казино
- Финтех
- Форекс Брокеры
- Форекс Обучение