London Stock Exchange Lists First Crypto Company
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5 August
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Argo Blockchain PLC, a mining company startup boasts first to be listed on the London Stock Exchange (LSE). The startup raised a staggering $32 million in its initial day of trading, bringing its valuation sum up to $61 million.

Argo began its existence in December of 2017, with the intention of creating a business that manages international data to facilitate anyone in the world in crypto Mining as a Service (MaaS). Subscriptions are already unavailable, even though the platform has only been functioning since June.

With quite a modest $0.21 per share, Argo sold 156,250,000 shares, amounting to $32 million, and after being listed on LSE the baseline valuation of Argo is now $61 million.

The co-founder and executive chairman Jonathan Bixby commented in the LSE document:

"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."

WHY IS THIS IMPORTANT?

  1. Argo is the first crypto-related company on the London Stock Exchange, paving the way for other crypto firms to follow.
  2. If the startup is successful, it could bring more investors to the still underinvested world of crypto.
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