Crypto mining firm Argo Blockchain files filing for US IPO

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Argo Blockchain, a British listed company specializing in crypto mining, has started the process of applying for an initial public offering in the United States.

According to a draft confidential registration statement filed Tuesday with the United States Securities and Exchange Commission, or SEC, Argo has proposed a dual listing and an initial public offering of US depository shares, which is expected to take place in the third quarter of 2021. The company said the timing may depend on the completion of the SEC review process and other market conditions.

Argo said the number of shares that are expected to be offered as well as the price have not yet been determined. According to an update on the company’s Twitter account, he mined 883 Bitcoin (BTC) until July 6 and held 1,268 BTC as of June 30.

The IPO announcement comes two weeks after the announcement of a possible secondary listing on the Nasdaq, which has been listed on the London Stock Exchange since 2018. According to data from TradingView, the Argos ARB share is now trading at 111 pence sterling, having increased by around 30% in the past 24 hours.

Related: Argo Blockchain To Launch Clean Energy Bitcoin Mining Pool

The crypto mining company also recently received a $ 20 million loan from Galaxy Digital to help it build a data center in West Texas. Argo announced in March that it had secured 320 acres of land that it planned to use for the construction of a 200 megawatt crypto mining facility. The company cited inexpensive Texas renewables and its openness to innovation in new technologies as some of the reasons for the move.

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