On June 11 it became known that the company Argo Blockchain, specializing in mining, plans to become the first blockchain-a company registered on the London stock exchange (LSE).
On the same day the company launched its own cloud service for mining contracts, access to which will be by subscription. Representatives of Argo Blockchain also announced plans to hold an initial public sale of stock (IPO). Recall that in January, the latest cycle of funding, the company raised $2.5 million.
Argo want to make mining alithinou four – Gold, Bitcoin, Ethereum, Ethereum Classic and zcash for – more accessible to ordinary users. To do this, the company will use its cloud platform and compute power of the server that is located in Quebec.
“More than 90% of cryptocurrency mining is a privileged populations in industrial scale, because it is a very complicated process,” explained Jonathan Bixby, one of the founders of Argo. — “It’s incredibly expensive. One farm for mining costs $5000. We want to become the Amazon Web Services (approx. services of cloud computing from Amazon) for crypto-currencies”.
Despite the fact that Argo is environmentally friendly farm in Quebec, the provincial government are ambivalent about the miners. So the canadian company, manufacturer and Transporter of electricity Hydro-Quebec has recently suspended consideration of applications from new farms. The fact that the electricity demand from miners in the province is extremely high due to low tariffs. Over time, suppliers were forced to reduce the volume of supplies to avoid shortage of resources for the population. The government of Quebec plan to prepare new restrictions for miners and, possibly, increase the price of electricity.
Returning to the London stock exchange, it is worth mentioning that it is a very conservative organization, especially when it comes to the cryptocurrency sphere. Previously, only the blockchain Coinsilium company launched an IPO on the alternative market of the stock exchange (AIM).
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