- On Friday, the buying and selling of stocks of Argo Blockchain (NASDAQ: ARBK) was once suspended in each the U.S. and U.Okay.
- Specific reasoning for the suspension was once now not supplied.
- The suspension may just point out pending updates or adjustments to the company.
Within the launched November operational update, the company states, “The Corporate is endeavoring to finish such financing transactions to give you the Corporate with operating capital enough for its provide necessities.”
The company is down -94.58% YTD consistent 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.”
Prior to now, Bitcoin Mag PRO analysts Dylan LeClair and Sam Rule highlighted Argo as one in every of a number of struggling public miners. They famous {that a} $27 million October fundraise try didn’t undergo, which might were along with a previous $70.6 million mortgage from NYDIG. Previous to October’s failed elevate, in August, Argo used a few of its BTC holdings to pay again bitcoin-backed loan obligations from Galaxy Virtual.
