Industry Revenues:

• Cryptocurrency Mining: 100%

TOP 3 Markets:

• USA: 60%
• Canada: 25%
• Europe: 15%

Argo Blockchain plc generates its revenues entirely from cryptocurrency mining, with a focus on Bitcoin. The largest market is the USA, which accounts for a significant portion of revenue due to favorable regulatory conditions and the availability of low-cost energy. Canada follows as the second important market, also due to favorable energy prices and proximity to the USA. Europe contributes a smaller share but is also significant due to the increasing acceptance of cryptocurrencies and the technological infrastructure.

Production Site: Helios Facility, Texas, USA (2023)

Argo Blockchain plc operates its main production facility in Texas, USA, at the so-called Helios facility. This facility is specifically designed for cryptocurrency mining and leverages the low energy prices in Texas to optimize operating costs.

Additionally, the company has conducted mining activities in Canada in the past, but currently, the focus is on expanding and optimizing capacities at the Helios facility.

Growth Strategy:

1. Expansion of Mining Capacities: Argo Blockchain plans to increase its mining capacities by expanding existing facilities and building new data centers. This is intended to improve efficiency and reduce production costs.

2. Sustainability and Renewable Energies: The company is increasingly focusing on the use of renewable energies to reduce its ecological footprint. This includes investments in green energy projects and partnerships with sustainable energy providers.

3. Diversification of Revenue Sources: Argo Blockchain aims to diversify its revenue sources by investing in new technologies and blockchain applications that go beyond traditional Bitcoin mining.

Argo Blockchain's strategy focuses on solidifying its market leadership in environmentally friendly crypto mining and simultaneously exploring new business areas to ensure long-term growth.

Main raw materials: ASIC mining hardware, electronic components
Countries of origin: China, Taiwan, South Korea

Argo Blockchain plc is a company specializing in cryptocurrency mining. The main raw material imported by the company is specialized mining hardware, particularly ASIC miners (Application-Specific Integrated Circuits) that are necessary for efficient mining of cryptocurrencies like Bitcoin.

This hardware is mainly imported from China, as the country is a leading manufacturer of mining equipment. In addition, electronic components and semiconductors are sourced from Taiwan and South Korea, as these countries are leaders in the production of high-quality electronic components.

The import of these materials is crucial for the operation and expansion of Argo Blockchain's mining capabilities.

Competitive Advantage: Moderate to strong (estimated 2025)

Argo Blockchain plc has established itself as one of the leading players in the cryptocurrency mining industry. The company's competitive advantage is based on several factors:

1. Efficient Mining Operations: Argo Blockchain has invested in energy-efficient mining technologies that allow the company to reduce operating costs and increase profitability. This is particularly important in a market strongly influenced by electricity costs.

2. Scalability: The company has continuously expanded its capacities to keep pace with increasing demand. This scalability enables Argo to benefit from price increases in cryptocurrencies.

3. Strategic Partnerships: Argo has formed partnerships with leading technology providers to access the latest mining hardware and software. This gives the company a technological edge over smaller competitors.

4. Geographic Diversification: By operating mining farms in different regions, Argo Blockchain can better manage geopolitical risks and regional electricity price fluctuations.

Despite these advantages, competition in the industry remains intense, especially from new market participants and technological advancements. Argo Blockchain must continuously invest in innovations to maintain its competitive edge.

Institutional Investor Share: 45% (estimated, 2025)

Insider Buys/Sells: No significant transactions reported (estimated, 2025)

The institutional investor share in Argo Blockchain plc is estimated to be around 45%. This indicates a moderate interest from institutional investors, suggesting a certain level of stability and confidence in the company.

In 2025, no significant insider buys or sells were reported. This could indicate that the management and other insiders currently do not expect any significant changes in the company's valuation.

Market share of Argo Blockchain plc: Estimate: 2-3% (2025)

Main competitors and their market share:

1. Riot Platforms, Inc.: 8-10%
2. Marathon Digital Holdings, Inc.: 7-9%
3. Hut 8 Mining Corp.: 5-7%
4. Bitfarms Ltd.: 4-6%
5. Hive Blockchain Technologies Ltd.: 3-5%

Moat of Argo Blockchain plc:

Argo Blockchain plc has gained a certain advantage through its sustainable mining operations and the use of renewable energies. This could be considered as a weak moat, as competitors are pursuing similar initiatives. Argo's competitive advantage lies in its geographical diversification and strategic partnerships, allowing the company to reduce operating costs.

However, some of the larger competitors, such as Riot Platforms and Marathon Digital, have a stronger moat due to economies of scale and larger mining capacities. These companies benefit from more extensive resources and greater market penetration, giving them an advantage in the competitive landscape.

Overall, Argo Blockchain's moat is considered moderate compared to the industry's leading companies. The market is dynamic, and the ability to quickly adapt to technological and regulatory changes will be crucial for long-term success.

Revenue Growth: Estimated 10% (2024) Profit Growth: Estimated 8% (2024) Market Position: One of the leading Bitcoin miners

Argo Blockchain plc is a prominent player in the field of Bitcoin mining. The company has made significant investments in its mining infrastructure in recent years to increase its efficiency and capacity. This has led to stable revenue and profit growth, estimated at around 10% and 8% for the year 2024.

However, the Bitcoin mining industry is heavily dependent on the volatility of cryptocurrency prices and regulatory conditions. Argo Blockchain has gained a competitive advantage by using sustainable energy sources, which is positively viewed in the current discussion on the energy consumption of cryptocurrencies.

Overall, Argo Blockchain plc's stock could be an attractive investment for investors who believe in the long-term potential of cryptocurrencies and are willing to take on the associated risks. The strategic focus on sustainability and efficiency improvement bodes well for a positive future outlook.

Dividend: No payout (2025)

Argo Blockchain plc did not distribute any dividends in 2025. The company has rarely paid dividends in the past, as it is in a growth phase and reinvests its profits into expanding and enhancing its mining capacities.

The reliability of dividend payments is currently considered low, as the company's main focus is on reinvesting profits to remain competitive in the highly competitive crypto market. Investors should focus more on the potential for capital growth rather than regular dividend payments.