Argo Blockchain plc, a global leader in cryptocurrency mining (LSE: ARB; NASDAQ: ARBK), is pleased to announce the appointment of Jim MacCallum as Chief Financial Officer. He will start in the position on 5 April 2023. Mr. MacCallum is not a statutory director of the Company.
Mr. MacCallum is a Certified Public Accountant and a Chartered Financial Analyst, bringing over thirty years of experience across various roles in finance and accounting. He currently serves as Chief Financial Officer of East Side Games Group Inc (XTSE: EAGR), a publicly-traded mobile game platform technology company based in Canada. Previously, he was Senior Vice President, Finance and Acting CFO at Westport Fuel Systems Inc (NASDAQ: WPRT; XTSE: WPRT), a dual-listed and publicly-traded clean transportation technology company. He also held senior roles at Amica Mature Lifestyles, Absolute Software and Cisco Systems. Mr. MacCallum articled with KPMG and completed the Advanced Management Program at Harvard Business School.
Upon his appointment, Mr. MacCallum said: "I am delighted to be joining Argo Blockchain, a dynamic and innovative company with a rich history and exciting future. I look forward to contributing to the success of the Company through a strong focus on financial discipline."
Matthew Shaw, Chairman of the Board, said: "I'm thrilled to welcome Jim to the Argo team as CFO. His broad experience across multiple industries and strategic mindset will help guide the Company through its next phase of growth."
Argo's Interim CEO, Seif El-Bakly, said, "With over 30 years of experience, Jim brings a wealth of finance and accounting knowledge to Argo, and I am excited for him to drive our financial discipline as we seek to deliver long-term value to our shareholders."
March Operational Update
During the month of March, Argo mined 161 Bitcoin or Bitcoin Equivalents (together, BTC), or 5.2 BTC per day. This is a decrease of 10% over the 5.7 BTC per day produced in February 2023. The primary driver of the decrease in daily BTC production was the increase in network difficulty. In March, the average network difficulty was 11% higher than in February.
As of 31 March 2023, the Company held 85 Bitcoin or Bitcoin Equivalents.
The Company's total hashrate capacity continues to be 2.5 EH/s.
Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in March amounted to $4.05 million [GBP3.28 million] (February 2023 $3.76 million [GBP3.09 million]).
https://twitter.com/angusenergyplc/status/1636692162585718786?s=61&t=Cy5KZ7nExWNq_4f0UA2cQg
Totally concur with that HITS....well written. The racism was a factor in Rishi not becoming PM. He was absolutely spot on about the catastrophic effects on hiked mortgage interest rates as a direct result dizzy Lizzies delusional fiscal ideas of tax cuts and abhorrent government borrowing. With the inevitable high inflation recession we are now in - solely caused by dizzies and Kwazi's mini-budget...do they really expect growth when such seismic shock waves are sent rippling through the UK economy??
now book it, coz PF just f*cked it
Reso, are you fkn deluded?? We may be £7m odd mcap company but the claim being made is HUGE. In case you didn't read the RNS yesterday here are some extracts:
The Company will also submit a claim for damages against the Republic of Slovenia for breach of EU law including for the unreasonably long time it took for the decision to be reached.
The Company will be seeking damages for loss of future income from the project which would have been expected to have been a multiple of the historic investment of some €50 million.
Arbitration claims for damages under the Energy Charter.
So, there are a number of aspects to the claim going in and which government department is not going to action when the litigation papers arrive. If you think they won't bat an eyelid - you are on cloud cuckoo land. This will no longer be a matter for junior ministers...the top dogs will be involved. Imagine a UK ministry being sued for £200 odd million... you think the hierarchy ministers are not going to get involved?? Seriously get real.
In the era of a slowing global economy, every country needs to boost their own economies and growth, and Slovenia have gas under the ground that could supply their grid for 20 years! What part of sense and sensibility are you and Slovenia lacking here?
This situation is embarrassing for Slovenia in that they have failed to follow laws and expert guidance and (possibly) going to end up in court as result.
Good luck to all genuine AST holders
cloud got a a special silver lining?? I agree with posters on here that this will be settled out of court and a lot sooner.
The fact that the Ministry of Arsoles is going to receive court papers for a £200million+ compensation claim through their own pathetic interpretation of the rules and ignorance of expert guidance in relation to the issuing of permits - it seems very apparent to me that the Slovenian government - at the highest level - will intervene to save humiliation, embarrassment and a shed load of money. I really do think a court case will be averted because if it does not, and if the ministry lose the case, what will this do to Slovenia's reputation to encourage foreign investment? To the overall development of the province? Opportunities? Jobs and the Economy and growth?
The ripples of such a loss are far reaching and damaging and could lead to Slovenia falling behind with the times and becoming something of a vassal state.
I mean Slovenia's own gas is currently being sold to Croatia and Slovenia's own government are making it blatantly obvious that they don't want their own gas in their own grid!!! They would rather pay a lot more for imported gas!! How utterly preposterous and ridiculous this situation really is!!
Taking everything into consideration, this massive compo claim is going to be a very high profile case and someone at the top should and will have the nous to sort it.
GLA