Argo Blockchain, a publicly traded UK company focused on mining cryptocurrencies, has started the application process for an IPO in the United States.
According to a confidential draft registration statement filed Tuesday with the US Securities and Exchange Commission (SEC), Argo offer Double listing and initial public offering of custody shares in the US, which is expected to take place in the third quarter of 2021.
Argo said the number of shares expected to be offered and the price have not yet been determined. According to an update on the company’s Twitter account, 883 Bitcoin (BTC) had been mined by July 6 and 1268 BTC was held on June 30.
The IPO announcement comes two weeks after the company announced it was considering a potential secondary listing on the Nasdaq, which has been listed on the London Stock Exchange since 2018. According to data from TradingView, Argo’s ARB stock is currently trading at 111p, having gained 30% in the past 24 hours.
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The crypto mining company recently received a $ 20 million loan from Galaxy Digital to help build a data center in West Texas. Argo announced in March that it had secured 320 acres of land that it plans to use to build a 200-megawatt cryptocurrency mining facility. The company cited Texas’s cheap renewable energy and its openness to innovation in new technologies as the reason for the move.
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