Argo Blockchain Appoints Thomas Chippas as CEO and Director
London Stock Exchange and Nasdaq-listed Bitcoin mining company, Argo Blockchain, has announced the appointment of Thomas Chippas as its new CEO and Director. Chippas, who brings extensive experience in digital assets and financial services, will assume the role immediately. As part of his compensation package, he is eligible to receive up to 2.85 million units in Argo’s American Depositary Shares over a three-year period.
A Proven Leader in the Industry
Chippas has a strong background in the crypto industry, having previously served as CEO of CBOE Digital and founder of crypto trading platform ErisX. He was also CEO of Citadel Technology, COO of Axoni, and held managing director positions at Citigroup, Barclays, and Deutsche Bank.
Driving Operational Excellence
Argo Chairman Matthew Shaw expressed confidence in Chippas’ leadership abilities, stating that he will work with the Argo team to drive operational excellence and deliver value to stakeholders. Chippas himself commented on the growing pace of innovation in the Bitcoin mining industry and expressed excitement about pursuing opportunities with Argo.
Changing of the Guard at Argo
In February, former CEO Peter Wall stepped down from his position at Argo to pursue other opportunities. Seif El-Bakly took over as interim COO while Wall remained as an advisor during the transition. In December 2022, Argo faced turmoil when it accidentally published drafts suggesting it would file for bankruptcy protection. However, the company sold its Helios mining facility and secured a loan to continue its operations.
Hot Take: Argo Blockchain Brings on Experienced CEO
Argo Blockchain has appointed Thomas Chippas as its new CEO and Director. With his extensive experience in digital assets and financial services, Chippas is expected to drive operational excellence and stakeholder value at Argo. This move comes after the company faced challenges, including accidental publication of bankruptcy drafts. However, Argo has taken steps to recover, selling its mining facility and securing a loan. The appointment of Chippas demonstrates Argo’s commitment to growth and innovation in the Bitcoin mining industry.
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