The interim CEO of Argo Blockchain, Jim McClum bought more than 70,000 shares of the company in an insider transaction.
Jim McClum, Aurgo Blockchain’s Interim Chief Executive Officer bought 75,000 shares of the company as American deployment receipts-US-traded shares representing stock-foreign company stock-29 January and 30 January, the company disclosed in a regulatory filing in a regulatory filing. Did. Shares were purchased from $ 0.4550 to $ 0.4700 at NASDAQ prices, Admission Reads
Overall, Maccallum spent around $ 34,625 on shares, the average price of $ 0.4617 per ADR. Insider procurement was revealed as required by rules for individuals who discharged managerial responsibilities. After the news broke, the Argo shares on the London Stock Exchange rose 2.27%, reaching 4.5 GBX.
Argo Blockchain announced that CEO Thomas Chippas would step down on 28 February. Jim McCallum, who is currently CFO, has already taken over as an interim CEO, while the company has permanently seen someone to fill the role, while to fill the role. ,
As Crypto.news had previously reported, Chippas, who joined in November 2023, helped improve the Finance of Argo, paid a Galaxy loan quickly and strengthened the balance sheet. Nevertheless, Argo is facing challenges, Q3 is reporting a net loss of $ 6.3 million in 2024 and a 28% decline in revenue from year to year.
In December 2024, Argo raised $ 5.3 million via share membership. The fund will help transfer or sell mining devices with helios feature in Texas. It will also support maintaining operations in Quebec. Earlier, the company reported flat production as it mined only 39 BTCs in December, in November, a five -month low was marked.
