The London Stock Exchange (LSE) has approved the listing of subscription-based mining company Argo Blockchain, Business Insider said.
According to experts, the listing of the first cryptocurrency company on one of the world’s oldest stock exchanges is a crucial event for the whole financial industry. The firm received approval to go public from the UK Listing Authority. Argo Blockchain plans to raise £20 million ($26.8 million) through an IPO on the LSE. Earlier in 2018, the company raised £1.9 million ($2.5 million) from private investors.
Argo Blockchain was founded last year. Its goal is to help users participate in cryptocurrency mining. The company believes that mining should be available as a mass market service, not only to a few ones with financial opportunities.
The firm’s operations are based in Canada’s Quebec province, a global hub for cryptocurrency mining firms due to its cheap electricity cost and cold climate.
Argo Blockchain charges customers about $25 for the mining activity, allowing users to mine Bitcoin Gold, Ethereum, Ethereum Classic, and Zcash.
