Argo Blockchain, a publicly traded UK company focused on crypto mining, has started the application process for an IPO in the United States.
According to a confidential draft registration statement filed with the U.S. Securities and Exchange Commission (SEC) on Tuesday, Argo has proposed a double listing and initial public offering of American Depositary Shares, which is expected to occur in the third quarter of 2021, the timing of which could depend on the SEC has completed their review process and other market conditions.
Argo said the number of shares expected to be offered and the price have not yet been determined. According to an update on the company’s Twitter account, it mined 883 bitcoin (BTC) by July 6 and held 1268 BTC by June 30.
The IPO is announced two weeks after the announcement of a possible secondary listing on the Nasdaq, which has been listed on the London Stock Exchange since 2018. According to data from TradingView, Argo’s ARB stock is now trading at 111 pence sterling, after having risen about 30% in the past 24 hours.
Related: Argo Blockchain Launches Bitcoin Mining Pool for Clean Energy
The crypto mining company recently received a $ 20 million loan from Galaxy Digital to help build a data center in West Texas. Argo announced in March that it had secured 320 acres of land to use to build a 200-megawatt crypto mining facility. The company cited Texas’s cheap renewable energies and its openness to innovation in new technologies as the reason for the move.