Crypto Miner Argo Blockchain to become the First Blockchain Firm Listed on LSE
Argo Blockchain, a crypto mining company, is likely to become the first blockchain firm to be listed on the LSE (London Stock Exchange). LSE, one of the world’s oldest stock exchanges, has supported this claim by approving Argo’s listing.
Argo Blockchain enters LSE’s list
Argo Blockchain released a statement this Monday putting forward their intention to raise around $26.8 million (£20 million) via IPO (Initial Product Offering). The IPO is scheduled to come after the company has been listed on LSE, and it is expected that Argo’s value will go to $53.3 million, or £40 million.
Argo Blockchain received a significant investment from private investors earlier this year, valued at around £1.9 million, or $2.5 million.
The UK’s Listing Authority allowed the company to go public about this two weeks ago. Jonathan Bixby, the company’s executive and co-founder, stated that the company chose London’s exchange because of the city’s reputation when it comes to financial technology. By being listed on the LSE, Argo will gain credibility, profile, and access to one of the biggest global hubs for financial tech, which will help with the company’s growth.
The company’s computing power will be charged at around $25 per month, and it will allow the company’s subscribers to remotely mine four different altcoins, to include Bitcoin Gold, Ethereum Classic, Zcash, and Ethereum.