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.”
“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.”
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