‘Netflix for cryptomining’ worth £47m after London stock exchange debut

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A cryptocurrency company has made history after becoming the first digital coin mining firm to be listed on the London Stock Exchange. 

Argo Blockchain, which is headquartered in London but runs its service from a data-centre in Canada, has raised £25m following its debut, giving it a valuation of £47m.

The company mines digital currencies on behalf of monthly subscribers using a similar model to Spotify or Netflix. This means people with little technical prowess and lacking the right tools to set up a mining rig can still make money from the Bitcoin craze by creating an account on Argo’s website or smartphone app.

Bitcoin mining essentially keeps the digital ledger necessary to keep Bitcoin…

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