A London-based provider of enterprise-scale ‘mining’ services for cryptocurrency has announce the appointment of Peter Wall as its new CEO with immediate effect.
Previously a member of the management team that founded Argo and since its vice president of operations, he has been responsible for overseeing the day-to-day operations of the mining organisation as well as the management of the software development team.
Wall commented: “I am excited and honoured to be appointed chief executive and look forward to working closely with the team to deliver long-term growth and to achieve our aim of becoming the world’s biggest publicly listed cryptominer.”
Mike Edwards, executive chairman and co-founder of Argo, has previously invested and directed over 40 start-ups including, Punch’d, which sold to Google, Summify, which was acquired by Twitter, and PasswordBox, which was purchased by Intel.
He said: “I am delighted to welcome Peter as our new chief executive officer. His knowledge of Argo and his broad and deep experience in cryptomining will serve the Company well as it moves into its next phase of growth.”
Separately, the firm said Gil Penchina is stepping down as the firm’s non-executive director and will be succeeded by Ian Macleod.
“I would also like to thank Gil Penchina for his invaluable contribution to Argo and wish him all the best in his future projects,” said Edwards.
“We welcome Ian Macleod as a non-executive. Ian brings significant skills in legal matters, corporate governance and regulation.”
The firm also announced it has taken delivery of new mining hardware, which it said it expects to be operational by January 10th, 2020.