Argo Blockchain PLC, a UK based London Stock Exchange listed crypto mining services provider recently revealed via a regulatory filing that the firm has appointed as new Chief Executive Officer. As per statement issued by the firm, it has promoted Mr. Peter Wall – one of the founding members and Vice President of Operations at the firm to take on the role of its Chief Executive Officer with immediate effect. Meanwhile, Mr. Mike Edwards is expected to continue serving in his role as the firm’s executive chairman. As one of the founding members and a member of senior management team at the firm, Peter has been responsible for overseeing the firm’s day-to-day operations since day one at the firm. Aside from day-to-day activities of thee mining division, he was also in charge of managing the firm’s software development team as part of his responsibilities as VP of Operations. Mr. Wall is a veteran with nearly 19 years of experience across wide range of industries and is widely considered as a renowned entrepreneur, technologist and speaker owing to his extensive participation in Video journalism in the early days of his career.
Aside from his role of CEO of Argo Blockchain PLC, he is a well-known figure in cryptocurrency mining community and Canadian tech circles. Some of his other well known roles include President of Vernon Blockchain, Director of Entobiotics Inc and senior-level management roles in Weave Technologies Inc, Orange 22 Pte Ltd, and Leaf Studios PLC. Vernon Blockchain is a firm specializing in design, build and management of huge cryptocurrency mining operations in Canada and worldwide. Over the course of the last five years, Peter has been actively involved in various cryptocurrency mining projects which are based out of Quebec as a consultant and also holds his own personal mining operation. The filing statement also revealed that Mr. Gil Penchina stepped down from his role as Non-Executive Director and was succeeded by Mr. Ian Macleod effective since 01.01.2020. The filing also revealed that the firm recently took delivery of 3616 Bitmain Antminer T17 machines of the 17000 machines approximately ordered in a plan to increase to its production base. The new machines are currently being installed and are expected to be operational by January 10th, 2020 which would boost the firm’s hash rate to 159 Peta Hash bringing a 75% boost to firm’s current hash rate.
The firm expects to on-board the remaining mining hardware by end of Q1 of 2020 which would effectively bring its hash rate to 640 PH bringing about a 204% increase to firm’s total mining capacity from its current capacity.
Commenting on his new role at the firm Mr. Hall said, “I am excited and honored to be appointed chief executive and look forward to working closely with the team to deliver long-term growth and to achieve our aim of becoming the world’s biggest publicly listed cryptominer”.
Speaking on the changes made to firm’s board, Mike Edwards – Co-Founder and Executive Chairman of the firm added, “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. I would also like to thank Gil Penchina for his invaluable contribution to Argo and wish him all the best in his future projects. We welcome Ian Macleod as a non-executive. Ian brings significant skills in legal matters, corporate governance and regulation”.
