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.