Argo Blockchain makes LSE history

City heavyweights throw weight behind crypto-mining startup

Argo Blockchain has become the first crypto-mining service provider to gain admission to the main market of London Stock Exchange through a standard listing.

The venture, which is headquartered in London and runs a datacentre based in Quebec, Canada, has raised £25 million following its debut, giving it a valuation of £47 million.

On the shareholder register are Miton Capital, Henderson Global Investors and Jupiter Asset Management, while founders Jonathan Bixby and Mike Edwards own around 13% of the company.

In an initial admission document, Bixby says: “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.”

MaaS platform

“The company, based in the UK, operates a global datacentre providing a low-cost and consumer-friendly service for the mining of leading cryptocurrencies,” notes the LSE.

“Argo’s cloud-based Mining as a Service (Maas) platform is available at scale to anyone, anywhere in the world on a monthly subscription. It empowers consumers with little or no technical knowledge of crypto-mining, computing expertise or the required complex hardware with the opportunity to mine Bitcoin Gold, Ethereum, Ethereum Classic and Zcash.”

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.


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