outfit Argo Blockchain will likely become the first company to list on the London Stock Exchange (LSE), reported June 11.
After launching its subscription service for mining contracts the same day, the company says it plans to hold an IPO, following a $2.5 mln funding round it completed in January of this year.
The LSE has generally remained a more traditional environment when it comes to blockchain offerings.
While Coinsilium the UK’s first cryptocurrency-related IPO on London's junior stock market AIM in 2015, the U.S. has stolen the spotlight more recently. Last month, New York Stock Exchange (NYSE) operator Intercontinental Exchange its plans to allow clients to buy and hold (BTC).
Argo says it aspires to “democratize” the mining landscape for four altcoins – , , and – by renting computing power from an eco-friendly facility located in Quebec.
“More than 90 per cent of crypto-mining is done by elites on industrial scale because it is technically very difficult to do,” Argo co-founder Jonathan Bixby told June 9, adding:
“It is incredibly expensive to buy, up front, the hardware you need at $5,000 a machine. We want to be the Amazon Web Services of crypto.”
Cryptocurrency mining is facing mixed reviews from regulators in jurisdictions offering power cheap enough to sustain bitcoin-focused business models. Quebec is no exception, with authorities of plans for bitcoin mining businesses to set up shop and last week .
Published at Tue, 12 Jun 2018 15:34:10 +0000
Blockchain
