50 British Pounds Sterling
Image Source: deg.io
Nick Hill

Vela Technologies invests £200k to acquire minority equity stake in Argo Blockchain

Vela Technologies plc has invested £200k to acquire a minority equity stake in Argo Blockchain plc.

The London-based technology investment company has subscribed for 2,500,000 shares in Argo Blockchain, at a price of 8 pence per share.

The Investment has been funded from Vela’s existing cash resources.

Vela also noted that the investment is also part of a larger fundraise, which was completed by Argo Blockchain on 2 February, raising £2.5m on a pre-money valuation of £8m.

Following completion of the Fundraise, Vela is interested in approximately 1.9% of Argo Blockchain’s share capital.

Argo Blockchain is a recently incorporated private company whose business activities will be focused on Mining as a Service (MaaS) which enables its users to access blockchain mining rigs and carry out cryptocurrency mining without the need to acquire, configure and maintain mining hardware.

Our Partners

Join the discussion as a guest or using , or Google

Top Ten Most Read