Argo Blockchain PLC Board Appointment and New Hardware (4697Y)
January 02 2020 - 1:00AM
UK Regulatory
TIDMARB
RNS Number : 4697Y
Argo Blockchain PLC
02 January 2020
2 January 2020
ARGO BLOCKCHAIN PLC
("Argo" or "the Company")
Board appointments
New mining hardware set to commence production
Argo, a UK-based provider of enterprise-scale crypto-mining
services (LSE:ARB), is pleased to announce that Peter Wall has been
appointed as the Company's chief executive officer with immediate
effect. Mike Edwards will remain the Company's executive
chairman.
Peter 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.
Peter is a technology entrepreneur based in Ottawa, Canada and
is President of Vernon Blockchain, a company specialising in the
design, build and management of cryptocurrency mining operations in
Canada and worldwide. Peter has been involved in cryptocurrency
mining in Quebec, both as a personal miner and a consultant, for
the past five years.
Peter is currently a director of Entobiotics Inc (Canada),
Vernon Blockchain Inc. (Canada), Weave Technologies Inc. (Canada)
and Leaf Studios PLC (UK). In the past five years he has also been
a director of Orange 22 Pte. Ltd (Singapore).
Separately, Gil Penchina is stepping down as non-executive
director from January 1st and will be succeeded by Ian Macleod. Ian
joins Argo with more than 20 years of international experience
providing strategic legal advice at board level. Since 2007, Ian
has served as Corporate Secretary and General Counsel to the
Teligence Group of Companies in Canada which operate in telecoms,
payments, ecommerce and software development. He is responsible for
acquisitions, structuring and the strategic direction of the
Teligence portfolio.
Mike Edwards, executive chairman 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."
"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."
Peter Wall commented: "I am excited and honoured 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."
New mining hardware delivered
Further to the announcement of 30 October 2019, the Company is
pleased to announce that it has taken delivery of 3,616 Bitmain
Antminer T17 machines which are being installed and expected to be
operational by January 10th, 2020.
The new machines represent 159 petahash (PH), an increase of 75%
from the Company's existing installed base of mining machines.
Argo is on track to operate a total production base of
approximately 17,000 machines, or 640PH, by the end of the first
quarter of 2020, increasing the Company's total mining capacity by
204% from its current base.
The remaining 6,384 machines required to achieve this target are
on order and expected to be delivered in batches from early
January.
For further information please contact:
Argo Blockchain
Mike Edwards via Tancredi +44 203 434
President & Executive Chairman 2334
Neil Thapar
Financial Communications
Adviser +44 7876 455323
-------------------------
Mirabaud
-------------------------
Corporate Broker
Peter Krens +44 203 167 7221
-------------------------
Tancredi Communication
Media Relations
-------------------------
Salamander Davoudi +44 7957 549 906
salamander@tancredigroup.com
Emma Valgimigli
emma@tancredigroup.com +44 7727 180 873
-------------------------
About Argo:
Argo Blockchain plc is a global data centre business that
provides a purpose-built and flexible platform for mining of
leading cryptocurrencies for the enterprise-scale and institutional
sectors worldwide from operational centres in Canada. The Company
is headquartered in London, UK and its shares are listed on the
Main Market of the London Stock Exchange under the ticker: ARB.
www.argomining.co
See Argo's largest facility in Quebec:
https://youtu.be/LDWWaZ75Zbk
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END
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