Mining company raises 28 million euros on IPO

The mining company Argo Blockchain officially became the first company in this sector to be listed on the London Stock Exchange (LSE), which allowed it to raise 25 million pounds (28 million euros) through an initial public offering (IPO).

Argo Blockchain has just placed 156,250,000 common shares in the market, via the London Stock Exchange, which represents 53.2% of its issued capital. The stock is currently valued at £ 0.16, which still represents £ 25 million. (28 million euros).

Argo’s initial plan revealed last month, was to raise 20 million pounds and reach a valuation of 40 million pounds. The objectives have been largely achieved since the company today reaches a valuation of nearly 53 million euros. The objective of this IPO was to enhance the company’s image and provide new funds for Argo’s long-term expansion and growth. The executive chairman of the company, Jonathan Bixby, 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 allow us to expand our business in several countries. »

According to Bixby, Argo exists to eliminate any operational stress and difficulty for ordinary people who want to enter the mining market, allowing them to participate financially in what some call the “fifth industrial revolution”.

Le minage étant essentiel au bon fonctionnement du Bitcoin et des autres cryptomonnaies, il a attiré l’attention de bon nombre d’investisseurs qui installent leurs fermes de minage là où ils peuvent tirer parti des faibles coûts électriques.

Argo exploite une immense ferme de minage dans un centre de données au Canada. La société fournit une plate-forme permettant aux personnes intéressées par le minage d’entrer sur le marché via un abonnement sur le site Web ou une application pour smartphone.

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