2nd Jan 2020 13:47
Alliance News) - Argo Blockchain PLC said Thursday it has appointed its vice president of operations, Peter Wall, as chief executive officer with immediate effect.
The UK-based cryptocurrency miner said Wall was a member of the management team that founded Argo and has been vice president of operations since then.
"He has been responsible for overseeing the day-to-day operations of the mining organization as well as the management of the software development team," the company said.
Wall is currently a director of Entobiotics Inc, Vernon Blockchain Inc, Weave Technologies Inc and Leaf Studios PLC. In the past five years he has also been a director of Orange 22 Pte Ltd, based in Singapore.
Separately, the company said Gil Penchina is stepping down as non-executive director from January 1 and will be succeeded by Ian Macleod of Teligence Group Canada. Meanwhile Mike Edwards will remain the company's executive chair.
Mike Edwards, executive chair and co-founder of Argo, said: "I am delighted to welcome Peter as our new chief executive officer. His knowledge of Argo and his broad and deep experience in cryptomining will serve the company well as it moves into its next phase of growth."
The company also said it has taken delivery of 3,616 Bitmain Antminer T17 machines which are being installed and expected to be operational by January 10.
Back in October, the company had said it altered and expanded its cryptocurrency mining equipment order from Bitmain. The new order was for 10,000 Antminer T17 at a cost of USD9.5 million.
The remaining 6,384 machines are on order and expected to be delivered in batches from early January, the company said.
Argo Blockchain shares were up 8.9% in London at 6.10 pence each on Thursday.
By Loreta Juodagalvyte; [email protected]
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