LONDON (Alliance News) - Argo Blockchain PLC said Monday it plans to raise GBP20 million via initial public offering of its shares on the main market of the London Stock Exchange.
The UK-based provider of cryptocurrency mining services said the flotation is expected to attribute it a value of GBP40 million.
In a separate statement on Monday, the company said it launched a "low-cost, flexible and easy-to-use" crypto-mining service for mainstream consumers.
"The service is aimed at addressing pent-up demand from users who want to benefit from mining digital currencies but have been put-off by its complexity and significant up-front cost," Argo said.
The mining-as-a-service operates on Argo's website and is available to adults with a credit card for an introductory subscription fee of USD25 a month. Users can choose to mine either Bitcoin Gold, Ethereum, Ethereum Classic and Zcash.
AIM-listed Vela Technologies PLC in February subscribed for 2.5 million shares in Argo, at a price of 8 pence per share for a consideration of GBP200,000. Vela's current interest in Argo is around 1.9%.
Vela Technologies (VELA)