$ARBK

Argo Blockchain Plc

CIK:0001841675|SEC Filings

GROUP STATEMENT OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
GROUP STATEMENT OF COMPREHENSIVE INCOME
Revenues	$ 15,521	$ 47,017	$ 50,558
Power and hosting costs	(12,629)	(32,887)	(35,964)
Power Credits		1,498	7,163
Depreciation - mining hardware	(2,605)	(14,171)	(18,656)
Gross profit/(loss)	287	1,457	3,101
Operating Costs	(11,050)	(12,536)	(18,949)
Gain on hedging		(487)
Share based payment charge	(2,636)	(3,759)	(3,892)
Operating profit/(loss)	(13,399)	(15,325)	(19,740)
Gain/(loss) on sale of investments		(842)	36
Write off of investment			(2,236)
Gain/(loss) on disposal of fixed assets	634	(429)
Investment fair value movement	(300)
Finance costs	(4,202)	(6,810)	(11,556)
Other income	157	708	346
Impairment of tangible fixed assets	(609)	(31,498)	(855)
Gain/(Loss) on disposal of intangible assets	98	(98)	1,166
Impairment of intangible assets	(121)	(468)	(1,082)
Equity accounted loss from associate			(716)
Gain on extinguishment of debt	22,414
Profit/(loss) before taxation	4,672	(54,762)	(34,637)
Tax credit/(expense)	412	(340)
Profit/(loss) after taxation	5,084	(55,102)	(34,637)
Other comprehensive income
Currency translation reserve	(490)	(241)	(1,175)
Total other comprehensive profit/(loss)	(490)	(241)	(1,175)
Total comprehensive profit/(loss) attributable to the equity holders of the Company	$ 4,594	$ (55,343)	$ (35,812)
Profit/(loss) per share attributable to equity owners (cents)
Basic earnings/(loss) per share	$ 0.0023	$ (0.09)	$ (0.07)
Diluted earnings/(loss) per share	$ 0.0023	$ (0.09)	$ (0.07)

GROUP STATEMENT OF CASHFLOWS - USD ($) $ in Thousands	12 Months Ended
GROUP STATEMENT OF CASHFLOWS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities
Loss before tax	$ 4,672	$ (54,762)	$ (34,637)
Adjustments for:
Depreciation and amortisation	3,146	14,909	20,129
Foreign exchange movements	(196)	(458)	(1,914)
Loss on disposal of tangible assets	(634)	429
Finance cost	4,202	6,810	11,556
Loss on sale of subsidiary and investment		842	(36)
Revenue from digital assets	(15,521)	(47,017)	(50,558)
Impairment of intangible digital assets	122	468	654
Impairment of property, plant and equipment	610	31,498	855
Write off of investment			2,236
Share of loss from associate			716
Gain/(loss) on disposal and impairment of intangible assets (current)	(54)	98	(738)
Hedging (gain)/Loss		487
Interest received	(92)	(307)
Stock based compensation expense	2,648	3,759	3,892
Gain on extinguishment of debt	(22,413)
Gain on disposal of intangible fixed assets (non current)	(1)
Fair value movements on digital assets held	(42)
Fair value loss on investment	300
Working capital changes:
(Increase)/decrease in trade and other receivables	1,247	756	(1,152)
Increase/(decrease) in trade and other payables	(2,999)	(2,310)	1,041
Net cash generated from operating activities	(25,006)	(44,798)	(47,956)
Investing activities
Interest received	15	307
Purchase of hedging instruments		(1,000)
Proceeds from sale of hedging instruments		487
Proceeds from sale of digital assets	15,427	47,594	51,866
Proceeds from sale of investment/subsidiary		6,745	50
Purchase of tangible fixed assets	(126)		(1,112)
Proceeds from disposal of intangible fixed assets	31
Proceeds from disposal of tangible fixed assets	2,278	891
Net cash used in investing activities	17,625	55,024	50,804
Financing activities
Increase in loans		1,287	1,429
Proceeds from borrowings	5,253
Loan repayments	(399)	(26,242)	(14,064)
Interest paid	(1,889)	(6,224)	(10,661)
Proceeds from common stock issued - net of issue costs	(1,913)	21,855	7,518
Net cash (used in) generated from financing activities	1,052	(9,324)	(15,778)
Net (decrease) increase in cash and cash equivalents	(6,329)	902	(12,930)
Effect of foreign exchange on cash and cash equivalents	(93)	281	281
Cash and cash equivalents at beginning of period	8,626	7,443	20,092
Cash and cash equivalents at end of period	2,204	8,626	7,443
Material non-cash movements:
Recognition of right of use assets and corresponding lease liabilities	1,910
Tangible fixed assets acquired through the issue of equity	9,469
Intangible fixed assets acquired through the issue of equity	5,400
Total Material non-cash movements	66,786
Group - net debt reconciliation
Current loans and borrowings	1,598	(20)	(14,320)
Non-current issued debt - bonds		(39,304)	(38,170)
Non-current loans and borrowings		(837)	(10,027)
Cash and cash equivalents	2,204	8,626	7,443
Total net cash/(debt)	3,802	$ (31,535)	$ (55,074)
8.75% Senior notes
Material non-cash movements:
Debt equity conversion	42,226
Short term borrowings
Material non-cash movements:
Debt equity conversion	$ 7,781

GROUP STATEMENT OF FINANCIAL POSITION - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Non-current assets
Investments at fair value through income or loss		$ 300	$ 400
Intangible fixed assets	$ 5,437	176	888
Property, plant and equipment	11,321	7,071	59,728
Right of use assets	1,894
Total non-current assets	18,652	7,547	61,016
Current assets
Trade and other receivables	645	2,451	2,480
Prepaids	1,187	628	1,355
Intangible fixed assets	42	6	385
Cash and cash equivalents	2,204	8,626	7,443
Total current assets other than assets held for sale	4,078	11,711	11,663
Assets held for sale			3,261
Total Assets	22,730	19,258	75,940
Equity
Common Stock	38,627	938	712
Additional paid-in capital	263,730	232,257	209,779
Share based payment reserve	16,839	15,162	12,166
Currency translation reserve	(31,256)	(30,766)	(30,525)
Accumulated surplus (loss)	(275,040)	(247,076)	(191,974)
Total equity	12,900	(29,485)	158
Current liabilities
Trade and other payables	6,325	8,184	11,175
Income Tax		398
Loans and Borrowings	1,598	857	14,320
Lease liability	133
Current liabilities	8,056	9,439	25,495
Liabilities held for sale			2,090
Total current liabilities	8,056	9,439	27,585
Non-current liabilities
Issued debt - bond		39,304	38,170
Loans			10,027
Lease liability	1,774
Total liabilities	9,830	48,743	75,782
Total equity and liabilities	$ 22,730	$ 19,258	$ 75,940