Argo Blockchain Promotes Justin Nolan to Chief Growth Officer

Nasdaq-listed crypto mining firm, Argo Blockchain recently confirmed that the company has promoted Justin Nolan to the position of Chief Growth Officer. In his new role, Nolan will facilitate the expansion of Argo’s operations.

In his broad career, Nolan worked in senior-level positions with prominent companies. Previously, he served as the Co-Founder and Chief Executive of DPN LLC, which initially developed the Helios project and was acquired by the company in March 2021. Following the acquisition, Nolan worked at Argo as Vice President of Business Development.

"Following our stellar 2021 results, this month shows we are on course to strengthen our track record for the year ahead. Justin Nolan has played an integral role in making the opening of our Helios facility in less than a year possible. His promotion to Chief Growth Officer coupled with the facility's fast turnaround highlights our ambition to significantly improve our scale of operations and further our reputation as an industry leader,” Peter Wall, the Chief Executive of Argo, commented.

Operational Update

In a press release shared by Argo on 9 May, the company noted that it had mined 166 Bitcoin or Bitcoin equivalent in April 2022, compared to 163 Bitcoin or Bitcoin equivalent in March this year.

“Based on daily foreign exchange rates and cryptocurrency prices during the month, mining revenue in April amounted to £5.52 million [$6.83 million] (March 2022: £5.22 million [$6.92 million]). Argo generated this income at a Bitcoin and Bitcoin Equivalent Mining Margin of approximately 75% for the month of April (March 2022: 74%). At the end of April, the Company owned 2,682 Bitcoin, of which 235 were BTC equivalents,” Argo added.

Last month, Argo Blockchain reported its financial results for 2021. The company witnessed a sharp rise in its revenues and net income during the last year.