London Stock Exchange welcomes Argo Blockchain plc to the main market
Argo Blockchain plc is the first crypto-mining service provider to gain admission to the main market of London Stock Exchange through a standard listing.
The Company, based in the UK, operates a global data centre providing a low-cost and consumer-friendly service for the mining of leading crypto-currencies. 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.
The Company has raised £25 million before expenses via a placing of 156,250,000 ordinary shares at 16p each, valuing the Company at market capitalisation of £47 million on flotation. Mirabaud Securities acted as sole booker runner and corporate broker for the Company. The enlarged share capital in issue following the placing is 293,750,000 ordinary shares. Proceed of the placing will be used by Argo to expand its services and fund its growth.