Crypto mining company Argo Blockchain successfully lists on London Stock Exchange

05 Aug, 2018
by Richard Allen
News
Crypto mining company Argo Blockchain successfully lists on London Stock Exchange

As Chepicap reported at the time, cryptocurrency mining firm Argo Blockchain was hoping to make history by being the first blockchain company to list on the London Stock Exchange (LSE). Their efforts have paid off as the Telegraph reports.

Headquartered in London, Argo Blockchain runs its services from a data-center in Canada. The company managed to raise £25 million (around $32.5 million) following its listing for a total valuation of £47 million (about $61 million).

Subscriberhs have a choice of four cryptocurrencies: bitcoin gold, Ethereum, Ethereum classic, and zcash which Argo mines on behalf of monthly subscribers, employing a similar model to that of Netflix. It provides the opportunity for people without the tools or knowledge to benefit from cryptocurrency mining.

According the LSE’s admission document, a total of 156,250,000 ordinary shares, representing 53.2% of the company’s issued share capital, were placed at 16 pence, or $0.21 per share.

Jonathan Bixby, co-founder and executive chairman of Argo told the Telegraph that the business model for his company was designed to “take the pain and heartache out of participating in the biggest new technology breakthrough since the launch of the internet.”

If you’re interested in subscribing it costs £18 (about $24) a month.

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