BTC mining at the bottom of the hole – While the price of Bitcoin continues to fall relentlessly and as the energy hit increases, many cryptocurrency miners go out of business. This week it’s the turn ofArgo Blockchain to be in trouble.
Another cryptocurrency miner on the brink
Argo Blockchain is a London-based cryptocurrency mining company whose shares are listed on the London Stock Exchange (ARB) as well as NASDAQ. Like most cryptocurrency miners, Argo has to deal with the difficulties of the market as well as the macro-economic context.
In this sense, the company communicated in the month of December. Faced with rumors of bankruptcy, Argo had then officially announced its wishes to restructure the company. Our colleagues from The Block explain to us that it was a question, for the cryptocurrency miner, of negotiating with a third party in order to sell the assets and once again avoid filing for bankruptcy.
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Argo: trading suspended on NASDAQ for 24 hours
It is therefore in this context that Argo announced today suspend for 24 hours his dealings with the NASDAQpending a new announcement tomorrow, Wednesday, December 28:
“Argo Blockchain (…) a world leader in cryptocurrency mining, announces that it has requested a trading halt for its ADSs and unsecured notes traded on the NASDAQ Global Select Market, while the London Stock Exchange is closed open for trading on Tuesday, December 27, 2022. The company expects trading on NASDAQ to resume on Wednesday, December 28, 2022, after the company made an announcement expected to be released before the opening of trading on Wednesday December 28, 2022.”
A few days ago, it was the core scientific bitcoin miner who saw himself filing for bankruptcy under the Chapter 11 of law in the United States. For the moment, this is not the case with Argo, who is still trying to save the furniture.
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