var TRINITY_TTS_WP_CONFIG={“cleanText”:”Peter Wall steps down as CEO of struggling BTC miner Argo Blockchain.u23f8Peter Wall has stepped down as the CEO and chairman of Argo Blockchain (NASDAQ: ARBK), the struggling BTC block reward miner that almost went bankrupt towards the end of 2022.u23f8Wall has been at the helm of the London Stock Exchange-listed company for the past three years and is leaving the company u201cto pursue other opportunities,u201du00a0as peru00a0a February 9 filing with the LSE.u23f8https://twitter.com/PeterGWall/status/1623675909998891009u23f8In his farewell speech, Wall said he was proud of the progress the company has made since he came onboard five years ago. His proudest moment was when the company cross-listed on Nasdaq and raised a sizeable amount ofu00a0money, u201cwhich we then used to build an incredible facility in Helios, Texas.u201du23f8As u00a0reported, the company sold the Helios facility to Galaxy Digital, the Mike Novogratz-led company, for $65 million. The sale saved the miner, which just weeks earlieru00a0had seemed destined for bankruptcy filingu00a0and been temporarily delisted from the LSE.u23f8COO Seif El-Bakly will take over the reins at Argo on an interim basis, with Wall staying on as an advisor over the next three months to assist the company in the transition.u23f8Argo also lost Sarah Gow, a non-executive director who joined the companyu2019s board in 2021. Wall revealed in his speech that she is stepping down because of her health.u23f8Just a week ago, the companyu00a0revealedu00a0that its CFO, Alex Appleton, had stepped down as well to pursue other opportunities. Argo claimed at the time that COO El-Bakly would take up the CFO duties as it worked on recruiting a new CFO.u23f8In the past year, block reward miners faced their toughest test yet. Some, likeu00a0Core Scientificu00a0(NASDAQ: CORZW) andu00a0Compute North, collapsed and filed for bankruptcy, while others, like Argo, had to sell off their assets to stay afloat.u00a0Hut 8u00a0(TSE: HUT) and USBTC are among those merging to consolidate resources as the u201cmine and hodlu201d model comes under intense pressure.u23f8Watch: Blockchain mining & energy innovationu23f8″,”headlineText”:”Peter Wall steps down as CEO of struggling BTC miner Argo Blockchain”,”articleText”:”Peter Wall has stepped down as the CEO and chairman of Argo Blockchain (NASDAQ: ARBK), the struggling BTC block reward miner that almost went bankrupt towards the end of 2022.u23f8Wall has been at the helm of the London Stock Exchange-listed company for the past three years and is leaving the company u201cto pursue other opportunities,u201du00a0as peru00a0a February 9 filing with the LSE.u23f8https://twitter.com/PeterGWall/status/1623675909998891009u23f8In his farewell speech, Wall said he was proud of the progress the company has made since he came onboard five years ago. His proudest moment was when the company cross-listed on Nasdaq and raised a sizeable amount ofu00a0money, u201cwhich we then used to build an incredible facility in Helios, Texas.u201du23f8As u00a0reported, the company sold the Helios facility to Galaxy Digital, the Mike Novogratz-led company, for $65 million. The sale saved the miner, which just weeks earlieru00a0had seemed destined for bankruptcy filingu00a0and been temporarily delisted from the LSE.u23f8COO Seif El-Bakly will take over the reins at Argo on an interim basis, with Wall staying on as an advisor over the next three months to assist the company in the transition.u23f8Argo also lost Sarah Gow, a non-executive director who joined the companyu2019s board in 2021. Wall revealed in his speech that she is stepping down because of her health.u23f8Just a week ago, the companyu00a0revealedu00a0that its CFO, Alex Appleton, had stepped down as well to pursue other opportunities. Argo claimed at the time that COO El-Bakly would take up the CFO duties as it worked on recruiting a new CFO.u23f8In the past year, block reward miners faced their toughest test yet. Some, likeu00a0Core Scientificu00a0(NASDAQ: CORZW) andu00a0Compute North, collapsed and filed for bankruptcy, while others, like Argo, had to sell off their assets to stay afloat.u00a0Hut 8u00a0(TSE: HUT) and USBTC are among those merging to consolidate resources as the u201cmine and hodlu201d model comes under intense pressure.u23f8Watch: Blockchain mining & energy innovationu23f8″,”metadata”:{“author”:”Steve Kaaru”},”pluginVersion”:”5.7.1″}; |
Peter Wall has stepped down as the CEO and chairman of Argo Blockchain (NASDAQ: ARBK), the struggling BTC block reward miner that almost went bankrupt towards the end of 2022.
Wall has been at the helm of the London Stock Exchange-listed company for the past three years and is leaving the company “to pursue other opportunities,” as per a February 9 filing with the LSE.
I have stepped down as CEO at @Argoblockchain. It’s been a great honour to lead the company for 3 years.
Seif, Seb + the team: wish you all the best. You got this!
ARB shareholders: thanks for everything. It’s been quite the journey.
Onwards and Upwards! 🚀 https://t.co/k60Do8Eigt
— Peter Wall (@PeterGWall) February 9, 2023
In his farewell speech, Wall said he was proud of the progress the company has made since he came onboard five years ago. His proudest moment was when the company cross-listed on Nasdaq and raised a sizeable amount of money, “which we then used to build an incredible facility in Helios, Texas.”
As reported, the company sold the Helios facility to Galaxy Digital, the Mike Novogratz-led company, for $65 million. The sale saved the miner, which just weeks earlier had seemed destined for bankruptcy filing and been temporarily delisted from the LSE.
COO Seif El-Bakly will take over the reins at Argo on an interim basis, with Wall staying on as an advisor over the next three months to assist the company in the transition.
Argo also lost Sarah Gow, a non-executive director who joined the company’s board in 2021. Wall revealed in his speech that she is stepping down because of her health.
Just a week ago, the company revealed that its CFO, Alex Appleton, had stepped down as well to pursue other opportunities. Argo claimed at the time that COO El-Bakly would take up the CFO duties as it worked on recruiting a new CFO.
In the past year, block reward miners faced their toughest test yet. Some, like Core Scientific (NASDAQ: CORZW) and Compute North, collapsed and filed for bankruptcy, while others, like Argo, had to sell off their assets to stay afloat. Hut 8 (TSE: HUT) and USBTC are among those merging to consolidate resources as the “mine and hodl” model comes under intense pressure.
Watch: Blockchain mining & energy innovation
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