A Friday operational update halted trading of the embattled bitcoin miner within the United Kingdom and United States.
A Friday operational update halted trading of the embattled bitcoin miner within the United Kingdom and United States.
- On Friday, the trading of shares of Argo Blockchain (NASDAQ: ARBK) was once suspended in both the U.S. and U.K.
- Specific reasoning for the suspension was once now not equipped.
- The suspension would perhaps demonstrate pending updates or adjustments to the company.
In the released November operational update, the company states, “The Firm is endeavoring to total such financing transactions to compose the Firm with working capital adequate for its present requirements.”
The company is down -94.58% YTD in step with NASDAQ, and it mined 198 bitcoin within the month of November. As of November 30, Argo holds 126 bitcoin, “of which 116 had been BTC Equivalents.”
Beforehand, Bitcoin Journal PRO analysts Dylan LeClair and Sam Rule highlighted Argo as one of several struggling public miners. They authorized that a $27 million October fundraise strive didn’t undergo, which would perhaps possess been apart from to to a earlier $70.6 million loan from NYDIG. Before October’s failed elevate, in August, Argo long-established some of its BTC holdings to pay abet bitcoin-backed loan tasks from Galaxy Digital.
