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Argo Blockchain PLC listed on the London Stock Exchange

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This may be of interest to some of you who are interested in the Blockchain space.

You can either invest directly in the company or do so via Vela Technologies PLC who have invested around £200,000.00 into Argo Blockchain PLC but they also have other Crypto/Blockchain investments like BTL Group, K2 Blockchain, etc. 

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For those who may be interested then Argo Blockchain PLC is looking to raise around £20m at a valuation of £40m. 

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Argo Blockchain PLC is an interesting one.

Is there the demand or enough demand for people to open accounts, pay monthly subscriptions for mining cryptocurrencies? I am not sure at this moment. 

I am not sure whether I would invest at IPO stage in this company but I have indirect exposure via an investment in Vela Technologies PLC which has invested in Argo Blockchain PLC. 

This is a very interesting one on two levels. One is whether it can grow as a business, scale up using capital acquired and gain serious revenue growth going forwards. The other level is whether there will be enough investment demand in such a company?

Time will tell.

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As an investor in Vela Technologies PLC, I am hearing that Argo Blockchain PLC's IPO listing is this Friday. However, I cannot see any information in relation to that anywhere on the internet. 

However, if it does list this Friday then next week will be interesting to see 1) the interest and demand for the shares and 2) the price and volume performance data for the shares.

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For those that are interested:

https://www.argomining.co

The packages are all showing as sold out but are they really? I don't know the answer to my question but if they are then this will be reflected in the financials in terms of revenues the company initially earns. 

You need to have a cryptocurrency wallet so that the mined coins can be sent to you in your wallet.

It does not offer mining Bitcoin but it does offer the mining of Ethereum which has the second largest market cap of all the cryptocurrencies.

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What are your thoughts on the minable products they offer? Bitcoin Gold seems a bit ... odd?

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@JamesIG, My thoughts are that I am a bit disappointed.

Bitcoin Gold is not even in the top 20 in terms of market cap. If they had offered Bitcoin Cash then it would have been very interesting.

Ethereum is the only one that really interests me but is the demand there for Ether in terms of price appreciation of the coin itself?

It is all to do with algorithms to mine with. They offer two, Equihash and Ethash. Equihash is a memory orientated proof of work algorithm developed by Luxembourg University. Ethash is the proof of work function in Ethereum based blockchain currencies. It uses Keccak, a hash function which was later on standardised to SHA-3.

I am not yet convinced of the demand for this as for me this would only be of appeal to those who have truely embraced Blockchain and Cryptocurrencies and have spare money lying around to participate in such activity. Those who have embraced would need to have an interest in the mining side of things and a passion as well. I cannot see the demand for this right now though I accept I could be totally wrong. I am happy to keep an open mind and see how it plays out and let the revenue figures tell me how this is performing as well as updates as a shareholder from Vela Technologies PLC.

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Nice little mention - also worth noting it's above our (IG's) requirement of £10m market cap to offer on leverage for UK stock. We will keep an eye on this one. 

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The £20m raise could give an opportunity to the early investors to exit quickly with a profit. I am always weary of IPO's. As someone who invests in start up businesses, one of the main routes to exit for liquidity purposes is an IPO. That presents a liquidity event which enable investors like me to exit and for someone else to hold the shares and take on the risk. 

I cannot see institutional funds/money buying this stock so therefore it could get pumped up by speculators and then may present an excellent shorting opportunity. For example which investment trust, OEIC or unit trust would buy this stock? The obvious answer is technology funds but even they have strict criteria as they have performance targets to meet and strong risk management in place.

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Does anyone know when Argo Blockchain PLC IPO is listing?

There are rumours of by the end of July 2018 but I have checked the London Stock Exchange website and there is absolutely no mention of this which also includes any AIM listings too. 

I wonder if Argo Blockchain PLC lists on NEX to join Coinsilium and KR1 (formerly known as Kryptonite1 PLC) or whether it joins the company which has invested £200k in it (Vela Technologies PLC) on AIM. 

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I cannot see it having a problem listing on AIM but at present it is unclear as to whether it will list on the Main Market AIM or NEX?

One could argue that NEX is a London Stock Exchange! 

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I just checked the Argo Mining website. Its services are still all sold out. This is either fictional or we are about to see a major rise in the share price once IPO is completed.

https://www.argomining.co

If this 'SOLD OUT' is not true then we could see an initial move upwards to entice new investors and then BOOM! Down it will go.

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I have to admit that the valuation is of an extremely high premium in my opinion based on current fundamentals. This may explain the initial fall in share price from IPO starting level. 

It has some interesting institutional support in the likes of Miton and Henderson so one has to keep an open mind. Also, has it really sold out all of the subscriptions? The website has show nothing but sold out on all three au subscriptions on offer.

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This doesn't trade very much so the chart looks pretty bad ... but this is available to trade on the IG platform both leveraged and non-lev.

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I think Argo Blockchain was just over valued at IPO. There are lots of people siting on losses who invested at the IPO price. The price action is pretty negative.

The latest on Argo is below:

Argo Blockchain adds two new cryptocurrencies to its mining platform

http://www.proactiveinvestors.co.uk/companies/news/204621/argo-blockchain-adds-two-new-cryptocurrencies-to-its-mining-platform-204621.html

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