Argo Blockchain plc announced production results for the month of December 2022. During the month of December, Argo mined 147 Bitcoin or Bitcoin Equivalents (together, BTC) compared to 198 BTC in November 2022. The decrease in BTC mined was primarily due to the curtailment of mining operations at the Helios facility in Dickens County, Texas in response to the widespread winter storm that impacted much of the United States in late December.

The Helios facility draws power from the Texas grid and can reduce electricity usage during extreme weather events or times of stress on the grid. During the winter storm, Argo joined other Texas Bitcoin miners in reducing power usage by an estimated 1,500 MW, according to the Texas Blockchain Council. Argo has always committed to being a good community partner, and the Company is proud to have contributed to the stability of the Texas power grid during the winter storm.

As of 31 December 2022, the Company held 141 Bitcoin, of which 116 were Bitcoin Equivalents.