A crypto-mining company named Argo Blockchain PLC has become the first crypto-purse to join London Stock Exchange (LSE). It has raised $ 32 million for a total valuation of about $ 61 million, according to a Telegraph report of August 3.
A cryptocurrency extraction via a subscription service
4 digital currencies are supported by Argo, sitting in London. These are Bitcoin Gold (BTG), Ethereum (ETH), Ethereum Classic (ETC) and Zcash (ZEC) . Argo’s services are available via computer and smartphones via a monthly subscription. The crypto-mining platforms of the company give immediate access to cryptocurrencies, and also allow their deposit. In addition, these mined funds are sent directly to users’ digital wallets.
The first LSE admission document states that Argo Blockchain placed 156 million shares, bringing the company’s valuation to £ 47 million (approximately $ 61.2 million).
An expansion in several countries
Argo provides mining services located in Quebec. Canada has become a destination of choice for cryptocurrency-related businesses because of the climate and optimal energy supply. Also, Argo is expected to expand its activities in Iceland and China in the near future.
Jonathan Bixby , executive chairman of the crypto-stock exchange said:
“Argo’s admission to London’s main market is a major step in the company’s development and will put us in a strong position to implement our long-term growth strategy. We are delighted by the strong investor response that will enable us to expand our business in several countries. “
Bixby hopes that the crypto-purse will become “an Amazon Web crypto-currency service”.
Argo was able to get the necessary authorization in hand to go public and launched into the mining subscription service in June. His approach has been successful and all subscription plans are currently sold.
The executive president added that most (90%) of the cryptocurrency mining sector is covered by the technical requirements of the industrial elites. Also, “the purchase of equipment worth $ 5,000 per machine is extremely expensive. “
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