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Argo Blockchain (ARB) investor relations material
Argo Blockchain Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for H1 2025 was $6.3 million, down from $29.3 million in H1 2024, mainly due to machine refurbishment and relocation.
Net loss narrowed to $8.1 million in H1 2025 from $38 million in H1 2024; adjusted EBITDA was negative $2.8 million versus positive $5.7 million a year earlier.
65 Bitcoin mined in H1 2025, a significant decrease from 442 in H1 2024.
Entered a Restructuring Support Agreement (RSA) with Growler Mining to recapitalize financial indebtedness, including a multi-draw term loan facility and planned equitization of unsecured notes.
Ended June 2025 with $1.7 million in cash and 2 Bitcoin equivalent.
Financial highlights
Mining margin was $1.2 million (18%) in H1 2025, down from $11.5 million (39%) in H1 2024.
Gross margin for H1 2025 was negative $0.4 million (-6%), compared to $1.8 million (6%) in H1 2024.
Cash and cash equivalents at period end were $1.7 million, down from $8.6 million at the end of 2024.
Total assets decreased to $9.1 million from $19.3 million at year-end 2024.
Weighted average shares outstanding increased to 717.8 million from 575.7 million year-over-year.
Outlook and guidance
Management expects the RSA and recapitalization plan to strengthen the company’s financial position and enable future growth opportunities.
The company’s liquidity and performance remain highly sensitive to bitcoin price, network hashprice/difficulty, and power costs.
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