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Bitcoin Miner Argo Blockchain's CFO Alex Appleton Quits

Jamie Crawley
Updated ·1-min read

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The chief financial officer of Argo Blockchain, a cryptocurrency miner listed on the London Stock Exchange (ARB) and Nasdaq (ARBK), has quit the firm.

Alex Appleton, who has served in this role since September 2020, is departing to "pursue other opportunities," according to a filing with the London Stock Exchange on Wednesday.

Argo's shares on the LSE are down around 3.4% at 15.07 pence following the news.

The mining firm narrowly avoided bankruptcy last year by selling its Helios facility in Texas to crypto-focused financial services firm Galaxy Digital for $65 million and a $35 million loan. Argo shares slumped by more than 90% in 2022 in a harrowing year for the mining industry as bitcoin valuations fell while electricity costs soared.

Appleton did not immediately respond to CoinDesk's request for further comment on his departure.

Read more: Bitcoin Miner Argo Blockchain Faces Class-Action Suit Over US Share Sale