Argo
Blockchain (NYSE/LSE:ARGO), a publicly-listed crypto mining firm, introduced
the appointment of Jim MacCallum as its Chief Monetary Officer (CFO) on
Tuesday. In the identical submitting, the corporate offered its newest
operation replace, displaying a lower in mining output in comparison with the earlier
month.
Argo Blockchain Hires
MacCallum
MacCallum,
a Licensed Public Accountant and Chartered Monetary Analyst, brings over 30
years of expertise in finance and accounting roles. He’ll formally be part of
the corporate on 5 April 2023. Beforehand, MacCallum was the CFO of East Aspect
Video games Group Inc, a publicly-traded cell recreation platform expertise firm
primarily based in Canada.
Jim MacCallum, new CFO at Argo Blockchain
Earlier,
he served because the Senior Vice President, Finance, and Performing CFO at Westport Gasoline
Methods Inc, a clear transportation expertise firm. MacCallum additionally held
senior positions at Amica Mature Life, Absolute Software program, and Cisco
Methods. He accomplished the Superior Administration Program at Harvard Enterprise
College.
“I’m
delighted to be becoming a member of Argo Blockchain, a dynamic and progressive firm with
a wealthy historical past and thrilling future. I look ahead to contributing to the
success of the corporate by way of a powerful concentrate on monetary self-discipline,” MacCallum
commented on his appointment.
Matthew
Shaw, the Chairman of Argo’s Board, famous MacCallum’s in depth expertise in a
big selection of industries and strategic mindset that can assist him correctly
handle the corporate by way of its subsequent development phases.
New RNS: We’re thrilled to welcome Jim MacCallum as our new Chief Monetary Officer!
With greater than 30 yrs of expertise in accounting and finance, he will likely be a useful addition to our mgmt workforce.
The RNS additionally contains our March operational outcomes.https://t.co/8VRcmrp3Bz
— Argo (@ArgoBlockchain) April 4, 2023
Argo Mines 161 BTC in
March, Lower than a Month In the past
Argo
Blockchain mined 161 Bitcoin or Bitcoin Equivalents (BTC) in March, or 5.2 BTC
per day, representing a ten% lower from the 5.7 BTC per day produced in
February 2023. The primary driver of this lower was the 11% enhance in community
problem in March in comparison with February.
Nonetheless,
the general mining income reached $4.05 million (£3.28 million), which is up from
February’s $3.76 million (£3.09 million), utilizing day by day foreign exchange charges and crypto
costs. On the finish of final month, the corporate held 85 BTC. Argo’s complete hashrate
capability stays at 2.5 EH/s.
Argo’s
bitcoin mining grew for two months in a row after experiencing a extra
substantial depreciation of 35% in December attributable to a extreme winter within the
United States. Like many others within the trade, the corporate stopped mining to
cut back the load on the electrical grid.
The corporate’s
scenario has improved considerably in current months. On the finish of the yr,
it was on the verge of chapter and was rescued by way of a strategic take care of
Galaxy Digital Holdings, Ltd, a monetary agency targeted on digital belongings, owned
by Mike Novogratz. Argo bought Galaxy its Helios mine positioned in Texas for $65
million and moreover benefited from mortgage refinancing supplied by Galaxy to
present funds to cowl ongoing operations.
The top of
2022 typically turned out to be worse for the mining trade attributable to decrease
Bitcoin costs. HIVE Blockchain, one other publicly-traded cryptocurrency miner, reported a web lack of $90 million in This fall, deepening a $37 million loss from the
earlier quarter. Total, the entire crypto mining trade made $6 billion much less
in 2022 in comparison with the record-breaking yr of 2021.
Argo
Blockchain (NYSE/LSE:ARGO), a publicly-listed crypto mining firm, introduced
the appointment of Jim MacCallum as its Chief Monetary Officer (CFO) on
Tuesday. In the identical submitting, the corporate offered its newest
operation replace, displaying a lower in mining output in comparison with the earlier
month.
Argo Blockchain Hires
MacCallum
MacCallum,
a Licensed Public Accountant and Chartered Monetary Analyst, brings over 30
years of expertise in finance and accounting roles. He’ll formally be part of
the corporate on 5 April 2023. Beforehand, MacCallum was the CFO of East Aspect
Video games Group Inc, a publicly-traded cell recreation platform expertise firm
primarily based in Canada.
Jim MacCallum, new CFO at Argo Blockchain
Earlier,
he served because the Senior Vice President, Finance, and Performing CFO at Westport Gasoline
Methods Inc, a clear transportation expertise firm. MacCallum additionally held
senior positions at Amica Mature Life, Absolute Software program, and Cisco
Methods. He accomplished the Superior Administration Program at Harvard Enterprise
College.
“I’m
delighted to be becoming a member of Argo Blockchain, a dynamic and progressive firm with
a wealthy historical past and thrilling future. I look ahead to contributing to the
success of the corporate by way of a powerful concentrate on monetary self-discipline,” MacCallum
commented on his appointment.
Matthew
Shaw, the Chairman of Argo’s Board, famous MacCallum’s in depth expertise in a
big selection of industries and strategic mindset that can assist him correctly
handle the corporate by way of its subsequent development phases.
New RNS: We’re thrilled to welcome Jim MacCallum as our new Chief Monetary Officer!
With greater than 30 yrs of expertise in accounting and finance, he will likely be a useful addition to our mgmt workforce.
The RNS additionally contains our March operational outcomes.https://t.co/8VRcmrp3Bz
— Argo (@ArgoBlockchain) April 4, 2023
Argo Mines 161 BTC in
March, Lower than a Month In the past
Argo
Blockchain mined 161 Bitcoin or Bitcoin Equivalents (BTC) in March, or 5.2 BTC
per day, representing a ten% lower from the 5.7 BTC per day produced in
February 2023. The primary driver of this lower was the 11% enhance in community
problem in March in comparison with February.
Nonetheless,
the general mining income reached $4.05 million (£3.28 million), which is up from
February’s $3.76 million (£3.09 million), utilizing day by day foreign exchange charges and crypto
costs. On the finish of final month, the corporate held 85 BTC. Argo’s complete hashrate
capability stays at 2.5 EH/s.
Argo’s
bitcoin mining grew for two months in a row after experiencing a extra
substantial depreciation of 35% in December attributable to a extreme winter within the
United States. Like many others within the trade, the corporate stopped mining to
cut back the load on the electrical grid.
The corporate’s
scenario has improved considerably in current months. On the finish of the yr,
it was on the verge of chapter and was rescued by way of a strategic take care of
Galaxy Digital Holdings, Ltd, a monetary agency targeted on digital belongings, owned
by Mike Novogratz. Argo bought Galaxy its Helios mine positioned in Texas for $65
million and moreover benefited from mortgage refinancing supplied by Galaxy to
present funds to cowl ongoing operations.
The top of
2022 typically turned out to be worse for the mining trade attributable to decrease
Bitcoin costs. HIVE Blockchain, one other publicly-traded cryptocurrency miner, reported a web lack of $90 million in This fall, deepening a $37 million loss from the
earlier quarter. Total, the entire crypto mining trade made $6 billion much less
in 2022 in comparison with the record-breaking yr of 2021.