Argo Blockchain plc reported operating results for the month of August 2023. During the month of August, the Company mined 105 Bitcoin or Bitcoin Equivalents (together, "BTC"), or 3.4 BTC per day. The reduction in BTC mined from July 2023 (4.6 BTC per day) is primarily due to economic curtailment at Helios, which generated significant power credits that the Company expects will more than offset the foregone revenue from the curtailment.

Preliminary estimates for power credits accrued in August 2023 indicate that the Company realized negative power costs for its Helios operations.