Argo Blockchain Provides Update on Argo Labs
19 Janvier 2022 - 2:59PM
Business Wire
Division focused on investing in and supporting
the disruptive and innovative sectors of the crypto ecosystem
Argo Blockchain Plc (LSE: ARB; NASDAQ: ARBK), (“Argo” or the
“Company”), a global leader in cryptocurrency mining, is pleased to
announce an update on Argo Labs, its in-house innovation arm
participating in the disruptive and innovative sectors of the
crypto ecosystem while supporting the decentralization of various
blockchain protocols. Argo has allocated approximately 10% of the
Company's crypto assets in its “HODL" to Argo Labs.
Coinciding with this update, the Company is pleased to announce
the appointment of Vakeesan Mahalingam, CFA, as Head of Argo
Labs.
Peter Wall, Chief Executive of Argo Blockchain, said: “Argo
Blockchain has long been a supporter of the proliferation of crypto
and blockchain technology – not just through mining. As blockchain
technologies continue to see rising adoption rates, this extension
of our business gives us an important opportunity to integrate
cryptocurrencies into existing financial infrastructure, support
and participate in the wider digital asset ecosystem, and continue
to spur this proliferation to ultimately change our world for the
better.”
Argo Labs will primarily be focused on two key areas: network
participation and strategic diversification through the efficient
deployment of the Company’s crypto treasury assets. Network
participation consists of providing infrastructure support, running
nodes and validators, and staking in innovative projects. Efficient
deployment of the Company’s crypto treasury assets includes, among
other things, supporting early-stage projects and participating in
decentralized finance (DeFi), as well as the NFT & metaverse
ecosystem, in each case in furtherance of the Company’s general
business operations.
Mahalingam commented: “Our vision at Argo Labs is to support the
Company’s mining efforts by engaging with the disruptive and
innovative sectors of the crypto ecosystem. We are committed to
growing all facets of this industry, and look forward to
spearheading this effort alongside my talented colleagues.”
Mahalingam joined Argo to specifically work on this aspect of
the business. He is overseeing a multi-talented, dynamic team of
blockchain network experts and technologists and is actively
building this division.
To learn more about Argo Labs, please visit
https://youtu.be/Gaj-qHO5c_I.
About Argo
Argo Blockchain plc is a global leader in cryptocurrency mining
with one of the largest and most efficient operations powered by
clean energy. The Company is headquartered in London, UK and its
shares are listed on the Main Market of the London Stock Exchange
under the ticker: ARB and on the NASDAQ Global Select Market in the
United States under the ticker: ARBK.
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version on businesswire.com: https://www.businesswire.com/news/home/20220118006306/en/
Carissa Felger/Genevieve Pirrong Gasthalter & Co. (212)
257-4170
Argo Blockchain (LSE:ARB)
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