Argo Blockchain IPO

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Argo Blockchain is currently planning to issue its initial public offering on the Nasdaq. The company is also planning to open a new mining facility in Texas. The company is hoping to raise over $138 million from the IPO. The company is a group of blockchain and mining experts specializing in large-scale cryptocurrency mining. They utilize purpose-built computers to solve cryptographic algorithms. Their mission is to provide a green and efficient mining infrastructure and support the continued growth of blockchain networks.

Argo has already taken on some debt to endorse its expansion plans. The company plans to use the new debt to build a new facility in Texas that will run on renewable energy. The company also plans to accept Bitcoin as payment for Tesla cars in the future. These investments should improve the company’s overall financial profile. The company has already mined 206 Bitcoin and made PS6.8 million profit during the month of August.

The company was founded in 2017, and has raked in more than $54 million in revenue over the last twelve months. It plans to list on the Nasdaq under the symbol ARBK. Jefferies and Barclays are joint bookrunners on the deal, and the offering is expected to price in the week of September 20, 2023.

 

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