Trading Shares of Bitcoin Miner Argo Blockchain Suspended

A Friday operational update halted trading of the embattled bitcoin miner in the United Kingdom and United States.Author:BtcCaseyPublish date:Dec 9, 2022A Friday operational update halted trading of the embattled bitcoin miner in the United Kingdom and United States.On Friday, the trading of shares of Argo Blockchain (NASDAQ: ARBK) was suspended in both the U.S. and U.K.Particular reasoning for the suspension was not provided.The suspension could indicate pending updates or changes to the firm.In the released November operational update, the firm states, “The Company is endeavoring to complete such financing transactions to provide the Company with working capital sufficient for its present requirements. According to NASDAQ, the firm is at -94.58% YTD and has mined 198 bitcoin during November. Argo currently holds 126 bitcoin as of November 30, “of which 116 were BTC equivalents. “Previously, Bitcoin Magazine PRO analysts Dylan LeClair & Sam Rule highlighted Argo among many struggling public miners. They also noted that the October fundraise attempt to raise $27 million was unsuccessful. This would have been in addition of a $70.6 million NYDIG loan. Before October’s failed raise Argo used some BTC to repay its Galaxy Digital-backed loan obligations in August. Tagsterms :Argo BlockchainPublic MinersMining

 

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