London Stock Exchange Lists Its First Crypto Mining Company

Argo Blockchain PLC is making waves with its entry into the London Stock Exchange (LSE). This is because it is the first cryptocurrency mining company to be officially listed on the LSE. The move to take the company public and list on the LSE has helped the company raise £25 million in investments.

As a crypto-miner, Argo is pretty new to the market. The company has operated for less than a year but has achieved a lot in that short period of time. Argo gives its customers the option to utilize its mining equipment and mine from a list of cryptocurrencies which include Ethereum, Ethereum Classic, Zcash and Bitcoin Gold. Customers pay a set fee every month and they receive rewards equal to the amount they invest.

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The service offers three payment tiers: large, medium, and small. The cheapest option starts out at £18. This is an affordable choice for those who don't want to build their own mining machines but want to start mining for cryptocurrencies and be part of this new technological and financial trend. Users will be able to get direct deposits of their chosen cryptocurrency by simply accessing the company's mining rigs.

In a statement, Jonathan Bixby, Executive Chairman of the company said

We have launched this service to take the pain and heartache out of participating in the biggest new technology breakthrough since the launch of the internet. More than 90 percent of crypto-mining is done by elites on industrial scale because it is technically very difficult to do. We want to be the Amazon Web Services of crypto

More Crypto Companies Will List

The £25 million that has now been raised started out in January 2018 when £2.5 million was raised from registered shareholders. Since then, the company's value has just shot up. In its recent report to the LSE, the valuation of the shares puts the company’s estimate at £47 million, with 53.2 of the shares listed on the market. Some of the shareholders are big names in the finance industry like Jupiter Asset Management and Henderson Global Investors.

Argo is blazing a trail for crypto miners everywhere by offering shares on a public stock exchange. There are many more cryptocurrency companies who plan to go public on a major stock exchange. Bitmain, the Chinese crypto mining giant that controls 50 percent of the world's bitcoin mining has plans for an initial public offering (IPO) on the Hong Kong Stock Exchange. It recently received a billion-dollar investment to go along with its coming IPO.

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