Recent reports reveal that Argo Blockchain, a cryptocurrency mining firm, is planning to become the first ever blockchain company to get a listing on the London Stock Exchange (LSE).
The said mining firm is intending to hold an Initial Public Offering (IPO), the same day it launched its subscription service for mining contracts. In January, it was able to complete a $2.5 mln funding round, implying that the firm has a solid support base.
Argo explained of its desire to “democratize” the mining atmosphere for four notable altcoins, namely Ethereum (ETH), Bitcoin Gold (BTG), Ethereum Classic (ETC), and Zcash (ZEC) by leasing computer power from a facility in Quebec.
Jonathan Bixby, Argo’s co-founder explained that more than 90 percent of crypto mining is done by professionals on an industrial scale simply because the task is hard to accomplish.
Despite the ambition to get LSE’s approval, the firm has yet to see its dreams turned to fruition, as the LSE has not yet decided on the matter.
In 2015, Coinsilium launched the first cryptocurrency-oriented IPO on the country’s junior stock market AIM. However, the US market showed more enthusiasm, as the New York Stock Exchange’s (NYSE) own operator Intercontinental Exchange told of its intent to let clients purchase and even hold Bitcoin (BTC).