London-listed cryptocurrency miner Argo Blockchain PLC (LSE:ARB, OTCQX:ARBKF, NASDAQ:ARBK, ETR:0XP) has announced the appointment of Jim MacCallum as Chief Financial Officer, taking up the position from 5 April.
MacCallum is a certified public accountant and authorized financial analyst with over thirty years of experience from various roles within finance and accounting.
He currently serves as CFO of East Side Games Group (TSX:EAGR, OTCQB:EAGRF) Inc, a publicly traded mobile gaming platform technology company based in Canada.
Previously, MacCallum was senior vice president of finance and acting chief financial officer at Westport Fuel systems Inc (NASDAQ:WPRT), a dual-listed and listed clean transportation technology company.
He also held senior roles at Amica Mature Lifestyles (TSX:ACC), Absolute Software (TSX:ABT) and Cisco Systems (NASDAQ:CSCO).
On his appointment to Argo Blockchain, 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 company’s success through a strong focus on financial business. discipline.”
Matthew Shaw, Chairman, commented: “I am delighted to welcome Jim to the Argo team as CFO. His broad experience across multiple industries and strategic mindset will help the company through its next phase of growth.”
Argo’s Interim CEO Seif El-Bakly added: “With over 30 years of experience, Jim brings a wealth of financial and accounting knowledge to Argo and I am delighted that he will drive our financial discipline as we seek to deliver long-term value. to our shareholders.”
MacCallum is not a statutory director of the company.
March operational update
During the month of March, Argo mined 161 bitcoins or bitcoin equivalents (collectively, BTC), a yield of approximately 5.2 BTC per day, representing a 10% decrease of 10% compared to February.
The primary driver of the decline in daily BTC production was the increase in network difficulties. In March, the average network difficulty was 11% higher than in February.
As of March 31, 2023, Argo held 85 bitcoin or bitcoin equivalents and had a total hash rate capacity of 2.5 EH/s.
Based on daily exchange rates and cryptocurrency prices during the month, mining revenue in March was $4.05m (£3.3m) compared to $3.76m (£3.1m) in February
