Argo Blockchain is a crypto mining company based in the UK, all will become the first ever cryptocurrency company to be listed on the London Stock Exchange after completing an initial public offering (IPO).
Argo blockchain raised £25 million (roughly $32.5 million) after issuing 156,250,000 shares at £0.16 each accounting for 53.2% of the overall company meaning the company is now valued at £47 million ($61.1 million).
Who are Argo?
Argo makes “cryptomining” easy and more accessible to the masses, offering a stress free way to participate in mining financially without needing the knowledge or physical software to take part in cryptocurrency mining.
Mining is essential to cryptocurrencies such as bitcoin, mining has become a huge industry and long gone are the days in which you can simply mine cryptocurrency its using a standard computer. Argo offers subscription services which allow you to invest in mining operations which in return will allow you to mine four crptocurrencies, Bitcoin Gold, Ethereum, Ethereum Classic and ZCash from just £8 per month.
Argo runs a mega coin-mining operation out of a data centre in Quebec, Canada. Mining generally uses too much electricity, can be very expensive to set up or can be far too technical for most people to understand. Therefore Argo is targeted at individuals who want to get into cryptocurrency mining but are restricted by the above constraints.
Argo Blockchain Executive Chairman Jonathan Bixby said
“Argo’s admission to the London main market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”
The company received approval from in May to be listed on the LSE and released their digital coin mining subscription service in June. The funds raised will be used to further expand their mining operation and while the subscription service is currently sold out you can join the waiting list once you have registered on their official website.
Follow the progress of our $10,000 Live crypto investment fund! – Follow on Telegram