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UK set for first public blockchain listing

The London Stock Exchange could see its first listing from a blockchain firm this week.

UK-Canadian firm Argo Blockchain has announced plans to list on the LSE in what is thought to be a first.

The company, which offers cryptocurrency mining through a monthly subscription service, hopes to raise £20 million in the listing and expects to be valued at around £40 million.

Blockchain LSE launch

Argo only won approval from the UK Listing Authority to go public two weeks ago, and has only small global staff count of 20.

However founder Jonathan Bixby is hopeful that his firm can help popularise and democratise mining among the masses.

“More than 90 per cent of crypto-mining is done by elites on industrial scale because it is technically very difficult to do,” Bixby told the Financial Times

“It is incredibly expensive to buy, up front, the hardware you need at $5,000 a machine. We want to be the Amazon Web Services of crypto.”