18 August 2022
Argo Blockchain plc, 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 performance since its 2020 Climate Strategy Report was published in August 2021.
With the aim of updating 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 significant milestones Argo has reached in this respect, which include:
● No Scope 1 emissions are produced as Argo does not have power generation or vehicle fleets at our sites;
● Most of Argo’s GHG emissions would 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 primarily come from upstream emissions from capital goods purchased, as well as fuel and energy-related activities. Verifiable Emissions Reductions (VERs) are purchased for all Argo activities in its value chain, and the Company will purchase additional VERs to maintain its climate positive status.
Looking ahead, Argo will continue to prioritize sustainability, which is demonstrated by the Company’s ongoing and planned initiatives in energy efficiency, reducing e-waste, use of waste heat in partnership with local municipalities, and supporting the crypto mining industry with sustainability standards. In doing so, Argo hopes that other players in the crypto and Bitcoin mining space will join the mission.
“We are pleased to provide this report that highlights the progress we’ve made in our commitment to sustainability and Argo’s climate strategy, and plan to maintain our climate positive status,” said Peter Wall, Chief Executive Officer of Argo. “For our team, sustainability is integral to our business model. This report highlights Argo’s focus on improving mining efficiencies, reducing our impact on the planet, and increasing our overall productivity.”
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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, and a signatory to 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 https://argoblockchain.com.