Crypto Mining News! Crypto Mining Firm Argo Blockchain Heads to Nasdaq

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Crypto Mining Information!

Crypto Mining Information! Argo Blockchain is providing 7.5 million American Depositary Shares on the Nasdaq International Market.

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Argo Blockchain’s IPO might elevate over $145 million. 

Crypto Mining Information! Argo Blockchain Goes Reside on Nasdaq 

Argo Blockchain has launched an Preliminary Public Providing, the agency introduced at present. 

New RNS:

Argo is happy to announce that it has commenced an IPO of seven,500,000 American Depositary Shares (“ADSs”), representing an mixture of 75,000,000 peculiar shares. #ARB $ARBK$ARBKF


— Argo (@ArgoBlockchain) September 14, 2021

The crypto mining agency, which can be listed on the London Inventory Trade, is providing 7.5 million American Depositary Shares on the Nasdaq International Market beneath the image ARBK. American Depositary Shares are a kind of fairness share for a corporation based mostly abroad that lists on an American inventory change. They’re denominated in U.S. {dollars}; 7.5 million ADSs is the equal of 75 million of the agency’s widespread inventory. 

Argo’s shares are presently buying and selling at about £1.40 ($1.94) in London after a pointy rise early Tuesday. On the present costs, the Nasdaq IPO might elevate £105 million ($145.5 million).   

Earlier this 12 months, Argo acquired DPN LLC. The deal noticed Argo obtain a plot of land in West Texas, the place it’s presently constructing a mining facility. The agency has since been elevating funds to assemble the power, together with £32 million ($44 million) in loans from Galaxy Digital, the property agency run by Mike Novogratz. 

Argo’s market capitalization is presently £533.4 million ($739 million). The agency has been exploring the potential for a U.S. itemizing since July. 

Argo isn’t the one mining agency to look to the U.S. this 12 months: in June, the Canadian corporations Hive Blockchain and Bitfarms each listed on Nasdaq, whereas many different corporations have relocated to Texas amid a crackdown on the sector in China. 

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