A crypto mining company has earned £ 25 million (approximately $ 32.5 million) through the IPO on the London Stock Exchange (LSE).
UK based Argo Mining (Ticker: ARB), which provides “accessible” crypto mining through a subscription service, is the first crypto company registered on LSE. The company raised £ 5 million (approximately $ 6.5 million) more than the initial target of £ 20 million through the IPO.
Argos issued 156 million shares on the exchange, accounting for 53.2% of the share capital issued, the share price was at 16 pence, from which the turnover was a total market valuation of 47 million pounds (approximately $ 61.2 million), according to the company documents.
In May, the company got approval for listing on the UK listing authority. In June they provide its crypto mining subscription service. In website of Argo they mentioned that they are offering to customer three packages different from the capacity of mining power to be provided, ETH, ZEC and ETC are currently supported. All of its packages are sold out.