CEO of major BTC miner Argo Blockchain resigns

Information has surfaced that the CEO of Argo Blockchain mining company Peter Wall has tendered his resignation. Peter Wall worked in his position for three years, including a very difficult period for the company and the entire crypto-winter.  

Argo Blockchain was among the mining companies that were hit extremely hard during the 2022 crisis. To fix the difficult financial situation the company sold the largest data center Helios due to the absence of a constant energy contract. 

After the rising cost of electricity cryptocurrency mining industry faced a lot of difficulties in addition to the falling price of crypto-assets themselves. Following Peter Wall’s departure, Seif El-Bakli probably will be the new CEO and Matthew Shaw will enter the Board of Directors. 

Argo shares on the London Stock Exchange lost 10%.