The 1st cryptocurrency group to list on the London Stock Exchange,

A company with zero revenues, a handful of staff and Canadian roots plans to become the first cryptocurrency group to list on the London Stock Exchange, seeking to cash in on surging demand for new virtual currencies. Argo, which won approval to go public from the UK Listing Authority two weeks ago, wants to “democratise” the crypto-mining process by which new virtual coins are created by renting out its specialist computing capacity for a monthly fee. The listing could be controversial because cryptocurrencies have been criticised over their links to crime and fraud, while the mining process has been accused of damaging the environment. Miners create new virtual coins by solving complex maths problems to validate new transactions. The reliance on raw computing power makes the energy-hungry process more akin to industrial manufacturing than traditional, high-technology businesses… Argo plans to charge $25 a month for the raw computing power to mine any one of four cryptocurrencies — Bitcoin Gold, Ethereum, Ethereum Classic and Zcash. But it will not hold virtual coins on behalf of its customers or arrange the mining pools that are typically used… Employing 20 people, it has a data centre in Vancouver and plans to establish others in places such as Iceland and China that both have cheap sources of renewable power and chillier climates to help cool the servers.
 
Martin Arnold

Food4Brains

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