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This Bitcoin Wall Street Miner's CEO Departs, Company Posts $6.3 Million Loss
Argo Blockchain (NYSE: ARBK, LSE: ARB) announced that CEO Thomas Chippas will step down on February 28, 2025, with CFO Jim MacCallum serving as interim CEO. Chippas, who joined during market challenges in 2023, improved the company's financial position by repaying its Galaxy loan early. Despite progress, the company reported a Q3 2024 net loss of $6.3 million, a revenue drop to $7.5 million, and mining margins falling to 8%. Recent fundraising of £4.2 million aims to support strategic initiatives. January's report shows stagnant Bitcoin production at 39 BTC, highlighting continued industry pressures. 2 replies
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