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Argo invests £1m in Pluto Digital Assets
StockMarketWire.com
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Cryptocurrency miner Argo acquired a 25% stake in Pluto Digital Assets for £1 million to become the lead investor in the company.
Pluto is a crypto venture capital and technology company that connects Web 3.0 decentralised technologies to the global economy.
Pluto invests in, incubates and advises digital asset projects based on decentralised technologies (DeTech), decentralised finance (DeFi) and networks such as Ethereum and Polkadot.
'Argo's management believes that this investment into a proof-of-stake focused digital assets company complements its position in the Bitcoin and proof-of-work consensus mechanism,' the company said.
This investment of approximately £1 million at 3p per share, as part of an investment round of £2.5 million, had been satisfied entirely by the contribution of the company's holding of 75,000 Polkadot, which were originally purchased in Q1 2019 at a cost of US$75,000. Argo's DOT contribution was valued at $19.43 per DOT.
At 8:45am: (LON:ARB) Argo Blockchain Plc Ord 0.1p share price was 0p at 8.18p
Story provided by StockMarketWire.com
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