The news has come out mentioning a Cryptocurrency mining company has managed to raise 25 million pounds or Rs 224 crore through the ICO that is Initial public offering at a London Stock Exchange.
Argo Mining, a UK based mining service company becomes the 1st company to make it to LSE list
After raising 5 million pounds in the stock pounds, the UK based mining service provider, Argo Mining has managed to become the first cryptocurrency company to get listed on the LSE. This step of getting admitted to the London main market is one of the major steps towards the development of the company. This step can actually put this company on the track of long-term growth.
Jonathan Bixby, executive chairman of the company said and we state –
” We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”
In total 156,250,000 ordinary shares were places at 16 pence per share valuing Argo at the market capitalization of 47 million pounds. As per the latest update on admission, the company will have around 293, 750,000 ordinary shares per issue. It was in December last year when the company was incorporated while it started its services on 11th June 2018. This company provides Cryptocurrency mining services anywhere around the world. ‘
Services provided by this Argo Mining Company
Presently, this company deals with the four cryptocurrencies including Bitcoin, Gold, Ethereum Classic, Ethereum, and Zcash. This company provides the system that allows the users to configure and managed the cryptocurrency they wish to mine. Also, they provide a mining pool for the users to pick from to contribute to and how they would like to store the generated coins through mining.
However, the company has no plan or intention to offer any form of the cryptocurrency custody service and therefore, all the users are will be responsible for the storage and security of their cryptocurrency.