Argo Blockchain, a global leader in cryptocurrency mining, announced the appointment ofThomas Chippas as its new Chief Executive Officer (CEO) and Director, effective immediately.

Chippas brings nearly 30 years of experience working for some of the world's leading banksand financial technology businesses. Prior to Argo Blockchain, he served as CEO at CboeDigital as well as a member of its Board of Directors. Also, Chippas has previously held leadingroles in a number of wel-known financial firms, including Chief Operating Officer at Axoni, CEOat Citadel Technology, and Managing Director at Citi, Barclays and Deutsche Bank.

ln addition, Chippas has been a member of Ts lmagine's Board of Directors since October2021.

Thomas Chippas, CEO of Argo Blockchain, commented on the appointment: "l am honored andexcited to join Argo. The pace of innovation in the Bitcoin mining industry continues to increaseas miners seek ever greater efficiency and capacity in preparation for the Bitcoin halving andbeyond. Together with the Argo team, I look forward to pursuing the opportunities ahead.

According to the terms of hiring, Argo Blockchain will grant Thomas Chippas 2.85 millionperformance share units relating to the Company's American Depositary Shares ("PSUs") inthree installments within three years, subject to the continued employment of Chippas andsatisfaction of the performance conditions

Earlier this year, Argo Blockchain released its financial results for the full year 2022, showingthe total number of Bitcoin or Bitcoin Equivalent mined of 2156, an increase of 5% from 2021ts net loss reached 5194.2 million ($240.2 milion) during the period, driven primarily by thechange in fair value of digital assets, impairment of assets, and losses associated with thefirm's divestitures.