LONDON – In a strategic move to bolster its finances, Argo Blockchain PLC has successfully raised £7.8 million (approximately $9.9 million) from institutional investors. This new capital injection comes through the issue of new ordinary shares, which are scheduled to be listed on the main market of the London Stock Exchange on January 11, 2024.
The newly raised funds are earmarked for a variety of corporate goals. Specifically, Argo Blockchain intends to use the proceeds to improve its working capital, reduce outstanding debts, and support other corporate efforts. With the admission of the new shares to the market, the total number of shares in the company will rise to 577,001,363.
Argo Blockchain, known for its commitment to environmental sustainability, participates in the Crypto Climate Accord. The company maintains its green approach by continuing to power its cryptocurrency mining operations with renewable energy sources.
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