Argo Blockchain PLC Announces 2021 Sustainability Report

LONDON, UK / ACCESSWIRE / August 18, 2022 / Argo Blockchain PLC (“Argo” or the “Company”), a global leader in cryptocurrency mining (LSE:ARB); (NASDAQ:ARBK), is pleased to announce the release of its 2021 sustainability report and that the company is maintaining its climate positive status. The report provides an overview of the company’s climate-related results since its 2020 climate strategy report was published in August 2021.

Aiming to update Argo shareholders on the company’s sustainability progress, this report will be published annually and serves as further evidence of Argo’s commitment to its climate positive strategy.

The report outlines a number of key milestones Argo has reached in this regard, which include:

● No Scope 1 emissions are produced as Argo does not have power generation or vehicle fleets at our facilities;

● The majority of Argo’s greenhouse gas emissions will fall under Scope 2. While the majority of Argo’s power comes from clean energy, renewable energy credits (RECs) are purchased at Argo-owned or hosted facilities for emissions created by electricity use; and

● Scope 3 GHG emissions come primarily from upstream emissions from purchased capital goods, as well as fuel and energy-related activities. Verifiable emission reductions (VERs) are purchased for all Argo activities in the value chain, and the company will purchase additional VERs to maintain its climate-positive status.

Looking ahead, Argo will continue to prioritize sustainability, as demonstrated by the company’s ongoing and planned initiatives in energy efficiency, e-waste reduction, waste heat utilization in collaboration with local municipalities, and supporting the cryptomining industry with sustainability standards. By doing so, Argo hopes that other players in the crypto and Bitcoin mining space will join the mission.

“We are pleased to deliver this report which highlights the progress we have made in our commitment to sustainability and Argo’s climate strategy, and plans to maintain our climate positive status,” said Peter Wall, CEO of Argo. “For our team, sustainability is an integral part of our business model. This report highlights Argo’s focus on improving mining efficiency, reducing our impact on the planet and increasing our overall productivity.”

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About Argo:
Argo Blockchain plc is a dual-listed (LSE:ARB); (NASDAQ:ARBK) blockchain technology company focused on large-scale cryptocurrency mining. With its flagship mining facility in Texas, and offices in the US, Canada and the UK, Argo’s global, sustainable operations are predominantly powered by renewable energy. In 2021, Argo became the first climate positive cryptocurrency mining company, signing the Crypto Climate Accord. Argo also participates in several Web 3.0, DeFi and GameFi projects through its Argo Labs division, further contributing to its business operations as well as the development of the cryptocurrency markets. For more information, visit www.argoblockchain.com.

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SOURCE: Argo Blockchain PLC

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