Crypto mining firm Argo Blockchain eyes secondary Nasdaq listing

The Argo Blockchain is an up-and-comer in the Blockchain space and has primary listing on the Nasdaq. The company has already raised $100 million and is busy gearing up for its next financing round, which is expected to be up to $50 million.

Argo Blockchain, the company behind the crypto-mining venture Argo, has filed plans for a secondary listing on the Nasdaq Stock Market. This follows a first attempted share offering last month, which was cancelled due to poor market conditions. Argo Blockchain intends to raise $15m through the listing. Argo Blockchain CEO, John Bolen, said: “We believe this is the optimal market to list Argo, as it has been the leading exchange in North America for over a decade.”

A crypto mining firm that specialises in mining bitcoin and ethereum is seeking a secondary listing on the Nasdaq stock exchange.

Argo Blockchain, a publicly traded company specializing in blockchain technology and cryptocurrency mining, is considering a secondary listing on the Nasdaq Stock Market.

The company announced Tuesday that it is now exploring a secondary listing on Nasdaq as part of its June 2021 operational and strategic update.

Argo Blockchain said it has not yet made a decision on the timing of the secondary listing, noting that there is no guarantee that the listing will be completed. Any listing proposal is subject to market and other conditions and there is no certainty that the proposal will be implemented, the company said.

In its latest update, Argo Blockchain said it has mined a total of 167 bitcoins (BTC) with mining revenues of 4.4 million pounds ($6 million) and a mining profit of 78%. According to the announcement, Argo Blockchain’s total mining revenue to date is 883 BTC, and the company expects it to reach 1,286 BTC or equivalent by the end of the month.

Peter Wall, CEO of Argo Blockchain, said the cryptocurrency industry faced major changes in June, referring to a significant drop in global hashrate and mining complexity amid Chinese restrictions on mining cryptocurrencies. Argo has benefited from these changes and continues to generate strong sales with impressive margins, the company said.

Related: China’s ban on crypto-currency is a big opportunity for Canada, says head of mining group

As previously reported, Argo Blockchain was the first cryptocurrency mining company to list on the London Stock Exchange in 2018, offering over 159 million common shares at a price of £16 ($22). The stock has risen significantly since its listing, reaching a record high of £280 ($387) in February this year, according to TradingView.

At the time of writing, ARB shares are trading at 125 pounds ($173), down about 2 percent in the past 24 hours.

Source: TradingView

Cryptocurrency mining firm Argo Blockchain Corp. (ARGO) announced that it has applied to list its common stock on the Nasdaq Global Select Market (QGSX). Argo Blockchain is seeking to list its stock on the Nasdaq Global Select Market (QGSX), an electronic market for the trading of securities that is owned and operated by the Nasdaq Stock Market.. Read more about when will argo blockchain list on nasdaq and let us know what you think.

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