A crypto mining company is currently making news as reportedly being the first crypto firm of its kind to join the London Stock Exchange. Argo Blockchain PLC has raised approximately USD 32 million, reported The Telegraph newspaper, and is changing the game for crypto miners.
The crypto mining company, Argo Blockchain, has joined the London Stock Exchange, attracting a multitude of high-end investors since its inception at the back-end of 2017.
London-based crypto mining company raising its game
A document was released by the London Stock Exchange (LSE) that a grand total of 156,250,000 standard shares in Argo, which is over 50% of the company’s total, have been launched at 16 pence per share. Argo will now have a market capitalization of GBP 47 million, which breaks down to approximately USD 61 million.
Argo Blockchain already offers its customers the opportunity to mine four of the main cryptocurrencies through their own computers or devices by simply paying a monthly subscription fee. The four main minable currencies at Argo are
Bitcoin (Ƀ, BTC) is one of the most famous cryptocurrencies and the world’s first decentralized digital currency. Launched in 2009, it is known as the forerunner to all other cryptocurrencies and a key influence in the mass popularization of cryptocurrency trading.
As of July 2018, Bitcoin is the most used alternative currency, with a market cap of over $114 trillion, twice as much as the second-place contender, Ethereum.
Bitcoin’s open-source software — outlined in the Bitcoin Whitepaper, credited to the pseudonymous founder Satoshi Nakamoto — was the first occurrence of blockchain technology, which has since been adopted by over 1,600 individual cryptocurrencies.
There are around 28.5 million bitcoin wallets as of January 2018, although some users may own more than one wallet. As of February 11, 2018, there are 16,858,762 units in circulation.
Changing times for crypto miners
Crypto mining has long been an industry that is dominated by tech-experts and is something that the general public is only just beginning to understand. More people than ever before want to get into crypto mining, and this is where Argo’s mining system with a monthly subscription is the way forward for the masses.
The co-founder of Argo told The Telegraph that their subscription system was geared to “take the pain and heartache out of participating in the biggest new technology breakthrough since the launch of the internet.”
The crypto mining company were founded at the back-end of 2017 in a bid to create an international data center business for helping crypto mining to reach a larger market. The plan was that their mining service would be available to anyone, not just techies, said the LSE document.
Argo launched their platform on June 11, 2018, and at the moment of writing has a full subscription that is sold out at present. The popularity of the platform is already apparent and with Argo’s admission that the firm will be able to add and remove many different cryptocurrencies in the future, this is a dynamic crypto mining model that has a very bright future.
One of the main problems with the integration of crypto mining is that the services are not easily accessed by the masses, but with Argo’s platform, the game is changing. With Argo being the first ever crypto mining company to join the London Stock Exchange, it is a very positive move for the industry as a whole heading towards mass adoption of crypto.