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https://www.marketwatch.com/story/argo-blockchain-assumes-ipo-price-of-18-40-per-ads-27163163339
The London, United Kingdom-based company plans to raise $138 million by offering 7.5 million ADSs at $18.40, the as-converted September 10 close of its shares on the LSE Main (ARB). At the proposed price, Argo Blockchain would command a fully diluted market value of $855 million.
Argo states that it is a leading blockchain technology company focused on large-scale mining of Bitcoin and other cryptocurrencies. The company mines using purpose-built computers (mining machines) to solve complex cryptographic algorithms in the blockchain in exchange for rewards and fees denominated in the native token of that blockchain network. Its mining strategy is to cost-effectively acquire the latest generation mining machines and install them in North American facilities that utilize predominantly renewable and inexpensive power. Argo has a fleet of more than 21,000 machines and can generate more than 1,075 petahash per second. The company operates its mining machines from two facilities that it owns in Canada and four hosted facilities in Canada and the US.
Argo Blockchain was founded in 2017 and booked $54 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol ARBK. Jefferies, and Barclays are the joint bookrunners on the deal. It is expected to price during the week of September 20, 2021.
https://www.proactiveinvestors.co.uk/LON:ARB/Argo-Blockchain-PLC
Software firm MicroStrategy has announced the acquisition of nearly a quarter of a billion dollars worth of bitcoin.
Chief executive Michael Saylor revealed that his company now holds more than $5 billion of bitcoin, making it by far the biggest corporate investor in cryptocurrency.
Software firm MicroStrategy has announced the acquisition of nearly a quarter of a billion dollars worth of bitcoin.
Chief executive Michael Saylor revealed that his company now holds more than $5 billion of bitcoin, making it by far the biggest corporate investor in cryptocurrency.
Argo Blockchain’s share price is now trading at 143p per share, a whopping discount to those recent all-time peaks. Still, it’s worth remembering that the company still trades well above the 5.2p it was just 12 months ago. Is the company now too cheap to miss?