The London-listed Bitcoin mining company Argo Blockchain (LSE: ARB) has filed a declaration of registration for an initial public offering (IPO) in the US market.
The filing with the SEC, announced Wednesday, shows that Argo is seeking listing on American Depository Shares, a commonly used mechanism that public companies can use to expand to reach US investors.
The number of shares to be issued and their price have not yet been determined. Trading is slated to begin in the third quarter of the year. All IPOs must be reviewed and approved by the SEC.
Argo was founded in 2018 and has since grown into one of the largest and most efficient bitcoin mining companies with clean energy.
Just last month, Argo announced that it had secured a $ 20 million loan from Galaxy Digital and deposited bitcoin as collateral. The loan was granted to Argo to expand its facilities while keeping Bitcoin on balance.
In addition, following the initial public offering of Greenridge Generation Holdings Inc. in March, it will go public through a merger with Support.com (Nasdaq: SPRT).
On March 5, Cipher Mining (founded as a subsidiary of the Dutch bitcoin mining company Bitfury) also announced that through a merger with Good Work Acquisition Corp. will go public.
Still, Argo is the largest among the mining companies to try to go public in the U.S. since then, a group that includes Riot Blockchain (NASDAQ: RIOT) and the Marathon Patent Group (NASDAQ: MARA).