Last week, Argo Blockchain published its new developments: launch of the new IPO and the start of construction work on the new mining site powered by renewable energy.
In the first tweet , Argo Blockchain describes the current situation of the new IPO of American Depositary Shares (ADS), its common stock in the United States. Here it is in detail:
“Argo announces that it has previously confidentially submitted a draft registration statement on Form F-1 to the SEC relating to a proposed double listing and IPO of American Depositary Shares (ADS) representing its common stock in the United States. The number of ADSs to be offered and the price range for the IPO proposal have not yet been determined. The IPO is expected to begin in the third quarter of 2021 after the SEC completes its review process, subject to market and other conditions. “
Soon after, the same company, known for its innovative green mining project, announced the start of construction in Texas and the expected completion of the mining farm by the first half of 2022.
“Argo is pleased to announce that it has broken ground for its 200MW crypto mining facility in Dickens County, TX, which will be powered primarily by renewable energy. The new plant is expected to be completed in the first half of 2022. “
In this regard, Kevin Brendle , Dickens County Judge said:
“I am thrilled to welcome Argo to Dickens County. The Argo team’s commitment to sustainability and to reinvigorating our local economy is exciting. We can’t wait to see the positive impact they will bring to our community ”.
Argo Blockchain news but the price of ARB falls by 3.83%
Argo Blockchain’s latest green mining farm news in Dickens has not been backed up enough by its investors. In fact, ARB recorded a 3.83% decline , right after the latest announcements described.
Overall, the price of ARB had soared to GBP 282 at the end of 2020 , but this year they continue to see lower, albeit higher than last year’s, closings this year. In this week alone, ARB lost 4.4 GBP, at a price today of 110.6 GBP.
Yet the enthusiasm in the Argo Blockchain house does not seem to be lacking, indeed. The development of its climate-friendly mining farm in Texas also plans to add 20 new jobs . Not only that, it was also announced that Argo will have access to a maximum of 800MW of electricity at the site.
Peter Wall , CEO of Argo Blockchain, said:
“Breaking the ground marks an exciting chapter as we continue to gain greater control of our mining operations and strengthen our position as a global leader in sustainable blockchain infrastructure and mining, and look forward to getting up and running.”
The company’s performance also appears not to be supported by investors. Last month, in fact, Argo Blockchain had also declared that it had mined more Bitcoin in May than in April , and that it had entered into collaboration with WonderFi to extend DeFi to the masses.