TechFlow news — Cryptocurrency miner Argo Blockchain has raised £5.7 million (approximately $7.5 million) through a new share issuance.
The London Stock Exchange-listed company said on Wednesday that the offering consisted of a private placement raising £5.134 million and a public offering raising £616,000. The proceeds will be used to reduce the company's outstanding debt.
The number of shares sold represents approximately 12% of the company's pre-offering market value, priced at a discount of about 14% to the 30-day volume-weighted average price (VWAP) of Argo's stock.
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