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(Alliance News) - Argo Blockchain PLC said it has named Non-Executive Director Ian MacLeod as executive chair with immediate effect.
The UK-based cryptocurrency miner said in his new role MacLeod will succeed Mike Edwards, "who is leaving to focus on his global e-sports venture in South East Asia."
The company said since 2007 Macleod has served as corporate and general counsel to the Teligence Group of companies in Canada, which operate a private equity investment fund focused on telecoms, payments, ecommerce and software development.
Argo Blockchain also said it is ahead of schedule to reach its first quarter goal of 17,000 machines, and now has 15,730 installed machines which currently produce 581 petahash.
In a trading update on Monday last week, the company had said it expected its 2019 revenue to be GBP8.5 million, ten times higher then GBP760,000 in 2018.
Argo Blockchain shares were trading 3.4% lower in London at 6.38 pence each on Monday.
By Loreta Juodagalvyte; loretajuodagalvyte@alliancenews.com
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