Agro Blockchain is the first cryptocurrency company that has found a place in the listing of London Stock Exchange. Based in the UK, the digital coin mining venture successfully accomplished an Initial Public Offering (IPO). Through the IPO the company raised $32.5 million, which in turn increased the total market valuation of the company to $61.1 million.
Agro Blockchain offers investors the option to mine four most popular cryptocurrencies through their personal computer or mobile devices on a monthly subscription fee. As of now, investors can mine Ethereum Classic (ETC), Bitcoin Gold (BTG), Etherum (ETH), and Zcash. Customers can gain direct access to the rings of mining firm after they have paid for the monthly subscription and it will also enable them deposit the entire coins they have mined in their virtual wallets.
Admission to LSE is a major step, says Executive Chairman, Bixby
The Executive Chairman of Agro Blockchain, Jonathan Bixby said, “Argo’s admission to the London main market is a major step in the company’s development and will put us in a strong position to execute our long-term growth strategy. We are delighted with the strong response from investors which will enable us to grow our business in multiple jurisdictions.”
Among the leading shareholders of the company include Henderson Global Investors, Jupiter Asset Management, and Miton Capital, as well as its founders Mike Edwards and Jonathan Bixby who jointly own around 13% of the shares of the company. The UK Listing Authority gave approval to Agro Blockchain in May this year. Within a month, the company issued a subscription for mining digital coin. As per a report, the company will use the proceeds that will come from the listing for its expansion.
Agro makes participation easier for investors
The co-founder of the company, Bixby stated that the mining subscription system of the company was specially designed to make sure that investors find it easier to take part in the biggest breakthrough in technology ever since the launch of the internet. Established in 2017, Agro Blockchain intends to develop a center for international data management business for the development of crypto mining in the form of a service (MaaS).
Agro Blockchain has attracted interest of different mining farm investors who carry out their mining operations wherever and whenever the electricity costs are low. Since carrying operations of Bitcoin (BTC) as well as other virtual currencies is difficult without mining, investors were immediately attracted to Agro Blockchain.