1 year ago
A Friday operational update halted trading of the embattled bitcoin miner successful the United Kingdom and United States.
A Friday operational update halted trading of the embattled bitcoin miner successful the United Kingdom and United States.
- On Friday, the trading of shares of Argo Blockchain (NASDAQ: ARBK) was suspended successful some the U.S. and U.K.
- Particular reasoning for the suspension was not provided.
- The suspension could bespeak pending updates oregon changes to the firm.
In the released November operational update, the steadfast states, “The Company is endeavoring to implicit specified financing transactions to supply the Company with moving superior capable for its contiguous requirements.”
The steadfast is down -94.58% YTD according to NASDAQ, and it mined 198 bitcoin successful the period of November. As of November 30, Argo holds 126 bitcoin, “of which 116 were BTC Equivalents.”
Previously, Bitcoin Magazine PRO analysts Dylan LeClair and Sam Rule highlighted Argo arsenic 1 of respective struggling nationalist miners. They noted that a $27 cardinal October fundraise effort did not spell through, which would person been successful summation to a preceding $70.6 cardinal indebtedness from NYDIG. Prior to October’s failed raise, successful August, Argo utilized immoderate of its BTC holdings to wage backmost bitcoin-backed loan obligations from Galaxy Digital.
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