The London-listed Bitcoin mining firm, Argo Blockchain, has started the process of submitting a registration statement for IPO (initial public offering) in the US market. According to a sensitive document submitted to the U.S. Securities and Exchange Commission (SEC) on Tuesday, the firm proposed a dual listing and IPO of American Depositary Shares. It is expected to be conducted in the third quarter of 2021. Argo blockchain said that the timing completely depends on when the SEC will complete its review process. It also depends on several other conditions in the crypto market. Argo further said that it has not yet decided the number of shares to be issued and the price. The firm tweeted that it has till now mined 883 Bitcoin (BTC) up until July 6 and also held 1268 BTC by June 30.
The IPO was announced two weeks after it was announced that it was considering a second listing on the Nasdaq, as it has been trading on the London Stock Exchange since 2018. Now, according to the information received from TradingView, the current trading price of Argo ARB is 111p. This is an amazing increase of around 30% in just a day! Galaxy Digital recently gave a loan of $20M to the cryptocurrency mining company, Argo blockchain. This was given so that they could build a data center in West Texas. In March of this year, Argo announced that it had got a hold of 320 hectares of land. Argo Blockchain is planning to use it for building a 200 MW crypto mining facility. The company cited Texas’ cheap renewable energy and its openness to new technological innovation as one of the reasons.