Argo Mining has been floated on the London Stock Exchange(LSE), attracting a strong response from investors. 156,250,000 shares were accepted onto the LSE’s main market at a price of 16p per share, giving the company a market capitalisation of £47 million.
The flotation is part of a wider strategy on the part of the new crypto mining service to raise its public profile and generate funds for long-term expansion.
Said co-founder and executive chairman, Jonathan Bixby:
“Argo’s admission to the London main market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”
Argo was launched on June 11th 2018 with the aim of ‘democratizing’ the mining process by leasing out specialist mining hardware to individuals for a monthly fee. The ‘Mining as a Service (MaaS)’ venture is aimed at anyone interesting in mining for cryptocurrencies and can be scaled according to individual budgets.
Visit Argo’s official website for more information.