Argo Blockchain's CEO, Thomas Chippas, has resigned after 14 months due to ongoing financial difficulties. The company's CFO, Jim MacCallum, will serve as interim CEO until a permanent replacement is found. During Chippas's tenure, efforts were made to repay loans early and improve financial conditions, but the company continues to struggle with a net loss of $6.3 million in Q3 2024, a 28% decrease in revenue compared to the previous year, and a significant drop in mining profit margins from 58% to 8%.

PANews reported on January 22 that according to Coinspeaker, Argo Blockchain CEO Thomas Chippas announced his resignation after 14 months as CEO, and his position will be temporarily taken over by Chief Financial Officer Jim MacCallum until a long-term successor is found. During his tenure, Chippas pushed for early repayment of Galaxy Digital's loans and improved financial conditions, but the company still faces significant financial pressures, including a net loss of $6.3 million in Q3 2024, a 28% year-on-year drop in revenue, and a drop in mining profit margins from 58% to 8%.

Argo Blockchain CEO Resigns Amid Financial Struggles; CFO Steps In as Interim