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LONDON – As part of a strategic move to strengthen its finances, Argo Blockchain PLC has successfully raised £7.8 million (approximately $9.9 million) from institutional investors. This new capital injection is being made through the issue of new ordinary shares, which are expected to join the main market of the London Stock Exchange on January 11, 2024.
The newly raised funds are earmarked for various corporate purposes. Specifically, Argo Blockchain intends to allocate the funds to improve its working capital, reduce outstanding debts, and support other corporate projects. With the admission of the new shares to the market, the total number of shares of the company will increase to 577,001,363.
Argo Blockchain, known for its commitment to environmental sustainability, is participating in the Crypto Climate Accord. The company maintains its eco-friendly approach by continuing to power its cryptocurrency mining operations using renewable energy sources.
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