Cryptocurrency

Argo

<a href="https://ultramining.com/news/en/argo-blockchains-struggles-continue-with-a-17-drop-in-bitcoin-production/" rel="noopener noreferrer nofollow">Argo Blockchain</a> PLC, a major player in the global cryptocurrency <a href="https://ultramining.com/news/en/texas-residents-challenge-bitcoin-mining-industrys-impact-on-power-grid-and-communities/" rel="noopener noreferrer nofollow">mining industry</a>, successfully raised £7.8 million ($9.9 million) by issuing 38,064,000 new ordinary shares. The placement occurred at a rate of £0.205 per share, notably at a 1% discount from the 30-day average and a 24% discount from the closing price as of January 5, 2024. These new shares account for approximately 7.06% of the pre-placement share capital, according to <a href="https://www.accesswire.com/822670/argo-blockchain-plc-announces-78-million-99-million-placing" rel="noopener noreferrer nofollow">Accesswire</a>.
The company, listed on both the London Stock Exchange and NASDAQ, aims to allocate the raised funds for working capital, debt repayment, and general corporate purposes. This move highlights <a href="https://ultramining.com/news/en/argo-blockchains-struggles-continue-with-a-17-drop-in-bitcoin-production/" rel="noopener noreferrer nofollow">Argo Blockchain</a>'s strategy in a dynamic market, emphasizing their focus on financial stability and growth amidst the volatile cryptocurrency landscape.
The shares are expected to be on par with existing shares, with trading set to commence on January 11, 2024. Tennyson Securities facilitated the placement, emphasizing the company's appeal to institutional investors. Post-placement, the company's total share count will reach 577,001,363, with no shares held in treasury. This development is significant for shareholders, providing a new base for calculating ownership stakes under the FCA Disclosure Guidance and Transparency Rules.

Cryptocurrency Miner Argo Blockchain Raises Nearly $10M in Share Sale

Ultramining_Eng

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