Argo Blockchain PLC Faces Delay in Financial Report Publication

Argo Blockchain PLC has announced a delay in the publication of its annual financial report for the year ended 31 December 2024. Originally set for 30 April 2025, the publication is now expected on or around 9 May 2025. The delay is attributed to time and resources dedicated to restating the 2023 annual report, as required by the SEC for clarifying digital asset accounting.

The company's restatement, completed on 25 April 2025, resulted in a reduced net loss for 2023 and 2022, and a decrease in net income for 2021. No changes were made to revenue or cash figures. Due to this delay, Argo has requested a temporary suspension of its share listing and trading on the London Stock Exchange starting 1 May 2025.

Despite these challenges, Argo reported preliminary unaudited financial results for 2024, indicating a revenue of $47.0 million and a net loss of $54.4 million, with a cash balance of $8.6 million as of the year-end. The company aims to restore listing post-publication of the completed financial statements.