Argo Blockchain CEO follows CFO in stepping down

A leading cryptocurrency miner – Argo Blockchain – has announced that its CEO Peter Wall is stepping down from his position.

The company lost its Chief Financial Officer – Alex Appleton – less than a week ago.

Another Argo Exec Resignation

According to the company messagePeter Wall is leaving Argo Blockchain after serving as CEO for three years. He described his stay there as “a great privilege” and thanked all his colleagues for their support and commitment:

“It has been a great privilege to lead Argo Blockchain over the past three years. It has been an amazing journey, and we have come such a long way. I am delighted to have recently led the successful Galaxy business, and thank all my colleagues at Argo for their commitment, support, and enthusiasm in driving Argo forward. Forward and on the above! ”

The company appointed Saif Al-Baqli as interim CEO, while Matthew Shaw became Chairman of the Board. The latter commented:

“Peter has created a strong foundation for Argo, a confident organization full of talented people, behind a clear strategy and focused on achieving profitable growth and increasing market share. On behalf of the Board of Directors and everyone at Argo, I want to thank Peter for his many accomplishments and wish him every success in the future.”

miner before open Departure of CFO and CEO – Alex Appleton. Britten, who will focus on opportunities outside the cryptocurrency industry, said he was proud of his accomplishments over the past few years and wished his former colleagues “all the best.”

The latest version of Argo

The past few months have been unpleasant for the organization. the Agreed to sell its Helios facility to Galaxy Digital for $65 million by the end of 2022, thus avoiding filing for bankruptcy protection. Argo will remain the owner of the machine, while the Mike Novogratz entity will host the mining fleet.

A severe winter storm passed through Texas near Christmas helpless Production levels in December, and the company mined just 147 bitcoins, which is 25% less than in November.

Argo was too Criticize a lawsuit filed in late January by a group of investors. They alleged that the company’s “wrongful acts and omissions” in 2021 caused a “sharp drop” in American Depositary Shares (ADS), resulting in painful losses for consumers.

Argo Blockchain CEO’s post following the CFO’s Stepping Down appeared first on CryptoPotato.

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