# Argo Blockchain

Argo Blockchain is an Asset Manager based in London, United Kingdom.

## Overview

- **Organization type:** Asset Manager
- **Headquarters:** London, United Kingdom
- **Region:** Europe
- **Address:** London, United Kingdom
- **Founded:** 2017
- **Assets under management:** Undisclosed
- **Website:** argoblockchain.com

## Regulatory record

- **Reports private funds:** No

## About

Argo Blockchain was founded in 2017 and listed on the London Stock Exchange the following year, with Peter Wall joining as Chief Operating Officer in 2019 before becoming CEO and later Chairman. The firm's wealth origin lies in public equity markets, not a single family fortune. Argo tapped retail and institutional investors to fund an aggressive expansion into large-scale cryptocurrency mining, initially deploying rigs in Quebec before pivoting heavily toward West Texas. Strategy and deployment center entirely on proof-of-work mining, specifically Bitcoin. Argo owns and operates the Helios facility in Dickens County, Texas—a 200-megawatt site designed to draw power directly from the ERCOT grid. The firm previously operated a campus in Quebec and later sold it to refocus capital on the Texas build. Beyond self-mining, Argo generates revenue from hosting third-party machines at Helios. In early 2023, the firm sold the Helios facility's power capacity to Galaxy Digital for $65 million, paying down debt and reshaping the balance sheet (per the firm, December 2022). Argo also holds a network infrastructure initiative through Argo Labs, a non-mining arm exploring Web3 protocols and decentralized finance. The company's footprint spans the United States and Canada, with the Texas site representing the bulk of current electrical load. Thomas Chippas took over as CEO in November 2023, succeeding Peter Wall (per the firm, November 2023). The firm maintains its headquarters in London alongside its North American operations in Texas and Quebec. Public filings peg the firm's total headcount at fewer than 30 employees, a lean structure for the scale of electrical infrastructure it controls. Argo's adjacent commitments are sparse; there is no disclosed family office structure, philanthropic vehicle, or club membership. The firm's sole focus is the publicly traded mining operation. Argo's structural differentiator is its status as a publicly listed pure-play Bitcoin miner on the London Stock Exchange, a market with few comparable crypto-native industrials. That listing creates liquid, transparent exposure to hashprice economics—distinct from private family offices that mine via bespoke vehicles or blind pools. The firm's reliance on public equity and debt markets for expansion capital, rather than private limited-partner commitments, ties its strategy directly to prevailing equity-market sentiment in a way most mining operators avoid.

## Sectors

- Digital Assets & Blockchain
- Energy Transition & Renewables

## Offices

- Dickinson, ND, United States
- Baie-Comeau, Quebec, Canada

## People

- Peter Wall — Chairman & Former CEO
- Thomas Chippas — CEO

## Questions

### Who runs Argo Blockchain's day-to-day operations?

Thomas Chippas became CEO in November 2023, taking over from Peter Wall, who had led the company since 2019 and remained as Chairman. Chippas previously held senior roles at Citadel Securities and Cboe Global Markets. The firm's operational mining activity is managed from its Texas and Quebec offices.

### How does Argo Blockchain fund its mining infrastructure?

Argo funds expansion through public equity offerings, debt, and asset sales. The firm listed on the London Stock Exchange in 2018 and has since raised capital from institutional and retail investors. In early 2023, the sale of the Helios facility's power capacity to Galaxy Digital for $65 million provided liquidity to reduce debt, restructuring the balance sheet (per the firm, December 2022).

### Does Argo mine any cryptocurrency other than Bitcoin?

Bitcoin mining drives virtually all of Argo's revenue. The company's Argo Labs division experiments with Web3 protocols and decentralized finance, but this non-mining initiative represents a tiny fraction of overall activity. The firm has not disclosed material revenue from any asset other than Bitcoin.

### Where does the electricity for Argo's mining operations come from?

The Helios facility in Dickens County, Texas, draws power from the ERCOT grid, which includes a high share of wind and solar generation. Argo previously operated a hydro-powered site in Quebec, which it sold in 2022. The firm has publicly stated an emphasis on sourcing low-cost, often curtailed, renewable electricity.

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Last updated: 2026-06-03T20:00:00.000Z

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