UK-based cryptocurrency miner Argo Blockchain has appointed Justin Nolan as its new CEO.

Nolan, previously the company’s chief growth officer, was most recently the CEO of Arkon Energy. He succeeds Thomas Chippas, whose departure was announced in January.

This marks Argo’s second CEO change in just over a year.

Founded in 2017, Argo Blockchain has faced major challenges, including the 2022 sale of its Helios mining facility in Texas to avoid bankruptcy.

During his earlier tenure, Nolan helped expand the company’s operations, including the development of the Helios project.