British Mining Company Attracts $32.5 Million During IPO
Argo Blockchain (UK) will become the 1st crypto enterprise officially recognized by the London Stock Exchange (LSE), CCN reports.
Argo has got permission from the legislative body to be officially added to the London Exchange list in May of the current year. In June, the company also has issued a subscription for users who want to start currency mining. The subscription costs £8 per month, and the company's main data center is located in the province of Quebec (Canada).
Jonathan Bixby, the executive chairman of Argo, claimed that the company's entrance to the British capital trading has become a significant event for the enterprise's future growth.
The company exhibited 156 million 250 thousand shares, one of which worth £0.16, during the IPO. These shares accounted for 53.2% of the company's total share capital. Argo Blockchain managed to raise £25 million ($32.5 million) that allowed to increase the whole capitalization to £47 million ($61.1 million). The founders Mike Edwards and Jonathan Bixby hold a total of 13% of the entire enterprise.
Argo Blockchain was created to help citizens who don’t have much knowledge about mining to get possibility of subscription on the online page or mobile application. Users can choose different subscription options for the production of 4 cryptos: ETH, ETH Classic, Zcash, BTC Gold.
Earlier, Coinbase renewed the license for work in Wyoming (USA). The representatives of the platform expressed gratitude to the state authorities and regulators for their cooperation and assistance.