By Michael Susin
Argo Blockchain said it has raised 7.8 million pounds ($9.9 million) through a discounted shared placing, and that proceeds will be used for working capital purposes.
The London-listed cryptocurrency miner on Monday said that it has issued 38 million news shares at a price per share of 20.5 pence to institutional investors. This represents a discount of around 24% to the latest closing price on Jan. 5 prior to the announcement.
Proceeds will be used for the repayment of indebtedness, and for general corporate purposes, it added.
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