According to reports on October 25, Block had tapped Perry Hothi, former chief technology officer for Argo Blockchain PLC, to help spur Block’s BTC mining ambitions.
In its filing with the U.S. securities regulator, Argo confirmed that its wholly-owned subsidiary Argo Helios had entered into additional loans under the company’s equipment financing agreement.
Argo will offer senior unsecured notes to raise $58 million, which it will use to finance its Texas mining site that’s set to generate 800MW of electrical power.
In its filing with the London market regulator, Argo said its representatives disclosed some internal information that wasn’t meant to go public yet in a meeting with an equity portfolio manager.
Argo Blockchain’s IPO for its American Depository Shares will be on the Nasdaq Global Market, with the company intending to use the funds for diversification.
The London Stock Exchange-listed company shares rose this week after reporting first-half revenue stronger than many had expected.
Argo Blockchain PLC is planning to explore a secondary listing on the NASDAQ exchange as it looks to take advantage of the soaring investor interest in the blockchain sector.
U.K.-based blockchain company Argo Blockchain has secured a £14 million (US$20 million) loan agreement to continue the build-out of its West Texas data center.
The block reward miner has completed the purchase of two data centers in Quebec, Canada. This follows an earlier announcement this year that the firm purchased land in Texas.
For 2020, London-based Argo Blockchain reported increased revenue by 120% to £19.0 million, compared to £8.6 million the prior year.
Argo Blockchain is partnering with Canada-based DMG Blockchain Solutions to launch Terra Pool, an alleged environmentally friendly BTC mining pool powered by sustainable clean energy.