Argo Blockchain is a Bitcoin mining company. Argo deploys purpose-built ASIC computers that compete to solve cryptographic equations on the Bitcoin blockchain, earning Bitcoin as a reward. As of end-2025, Argo operated roughly 22,600 ASIC miners capable of generating 2.4 exahashes per second (EH/s) of computing power. Argo contributes all of its hashrate to third-party mining pools, primarily Luxor Pool, which aggregate hashrate from many miners and distribute rewards proportionally — giving Argo more consistent revenue than solo mining. Argo sells its mined Bitcoin weekly to fund operations and does not hold Bitcoin as a treasury asset. Revenue is driven by Bitcoin price, Argo's share of total network hashrate, mining difficulty, and power costs — with electricity being the primary operating cost. Argo's core owned facility is in Baie Comeau, Quebec, powered almost entirely by low-cost hydroelectric power, with 15 MW of capacity and potential to expand to 23 MW. Argo supplements this with third-party hosted and leased sites, including two facilities in Alabama initiated in late 2025. Since selling its large Texas facility to Galaxy Digital in 2022, Argo has shifted away from owning large-scale infrastructure toward a hybrid owned/hosted model. Argo has undergone significant restructuring: it repaid its Galaxy debt in 2024, cut non-mining operating expenses sharply, and in late 2025 converted its unsecured bonds into equity, eliminating that debt. Argo was delisted from the London Stock Exchange but continues to trade on Nasdaq under "ARBK."