Argo Blockchain Plc(US:ARBK)2022-05-18 15:31Q1 2022 Financial Performance - Argo generated revenue of $19.5 million (£14.9 million)[10] - The company reported an Adjusted EBITDA of $19.1 million (£14.5 million)[10] - Net income for Q1 2022 was $2.1 million (£1.6 million)[10] - Argo mined 470 Bitcoin during the quarter and held 2,700 Bitcoin and Bitcoin equivalents as of March 31, 2022[10] - The mining margin was 76% for Q1 2022[7,10] Operational Highlights and Future Plans - Argo secured $26.7 million (£20.2 million) of infrastructure financing from NYDIG[14] - The company commenced mining operations at Helios in May 2022[16,24] - Argo has a supply agreement with Intel for Blockscale ASIC chips[14,21] - The company anticipates a total hashrate capacity of 5.5 EH/s, including 1.8 EH/s from Bitmain S19J Pros and 3.3 EH/s from Intel ASIC machines in development[20] - Argo requires approximately $50 million in additional capital to complete Helios Phase 1 infrastructure and machine purchases[24]