Argo Blockchain, the only cryptocurrency mining company listed on the London Stock Exchange, has announced that it has started selling American Deposit Stocks (ADSs) on the Nasdqq Global Markets Exchange. While the company informed that it offered 7.5 million ADS for sale, it was stated that each of them was equal to 10 main shares.
The abbreviation for the shares of the company, which announced this sale for the first time last month, is defined as “ARBK”.
They went to Texas, the mining region of the USA
Argo, which bought the New York-based DPN firm in March, a period when the crypto money industry was heading towards a new peak, also owned a land in the West Texas region after this purchase. The company started to build a new cryptocurrency mining facility on this land and went on the path of raising funds due to the expenses. As it is known, the state of Texas is known as one of the regions where crypto money miners have started to establish the most facilities recently.
Argo, which received a loan of $ 20 million from the Galaxy Digital company in June, received a loan of $ 25 million from Galaxy again last week.
Record of the last years
With the announcement of the news, Argo’s share price on the London Stock Exchange also increased by about 10%. The company’s share prices have hit record highs with the massive amount of money entering the cryptocurrency industry this year. The price had risen from 0.10 cents (US dollar) at the beginning of December to 0.50 cents at the end of December. The price, which increased 5 times in 1 month at that time, is now about 2 dollars.
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