Argo Blockchain Cryptocurrency Mining Company Gets $32.5 Million And LSE Listing
The cryptocurrency mining company known as Argo Blockchain PLC has been the first crypto firm that joins the London Stock Exchange (LSE). Argo was able to raise over $32 million dollars and reach a valuation of $61 million.
The information has been released by The Telegraph on August the 3rd and says the firm offers customers the ability to mine Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC), and Zcash (ZEC).
Users are able to mine virtual currencies using Argo’s computers or mobile devices for a monthly subscription fee. The company will be providing immediate access to the mining rigs. All the coins mined by customers will be immediately sent to their digital wallets.
As per an initial admission document that the LSE presented, 156,250,000 ordinary shares have bee placed at 16 pence per share. These shares represent 53.2 percent of the issued share capital and it has valued Argo at $61 million dollars.
Jonathan Bixby, Argo’s co-founder, explained that Argo’s mining subscription services have been created with the intention to help users be part of the revolution associated to virtual currencies and blockchain technology.
The company has been founded in 2017 with the intention to build an important international data center management business for assisting those in crypto mining as a service (MaaS). Furthermore, the company wants to be available for every person interested on the services all over the world.
It is important to mention that the company was launched on June the 11th and it has no more subscription packages available; they have all been sold out.
Bitmain Expands Its Operations
The crypto mining giant, Bitmain, has also revealed that it wants to conduct an overseas initial private offering (IPO). During the first quarter of 2018, the company announced that it registered earnings of about $1 billion dollars. Bitmain is now focusing in artificial intelligence and is trying to expand its business into other fields.