Argo Blockchain Raises $112.5M in US Share Sale

Argo Blockchain, the only U.K.-listed cryptocurrency miner, said it raised $112.5 million in a U.S. share sale.

The London-based company is selling 7.5 million American Depositary Shares, each equivalent to 10 of its U.K.-traded stock.The shares are priced at $15 each, the company said in a statement Thursday. In its prospectus filed with the U.S. Securities and Exchange Commission Sept. 14, Argo said it expected an initial offering price of $18.40, based on the value of its London-traded shares at the time.The shares are due to start trading today on the Nasdaq Global Market and will be listed under the ticker “ARBK.”The company owns land in West Texas for the construction of a new cryptocurrency mining facility, and has been raising funds in recent months. Since June it has borrowed £32 million ($44 million) from Galaxy Digital.

See also: Argo Blockchain First-Half Revenue Surges on Bitcoin Production, Price

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