{"id":15895,"date":"2022-12-28T00:01:02","date_gmt":"2022-12-28T00:01:02","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/publicly-listed-bitcoin-miner-argo-blockchain-suspends-nasdaq-trading-mining-bitcoin-news\/"},"modified":"2022-12-28T00:01:02","modified_gmt":"2022-12-28T00:01:02","slug":"publicly-listed-bitcoin-miner-argo-blockchain-suspends-nasdaq-trading-mining-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/publicly-listed-bitcoin-miner-argo-blockchain-suspends-nasdaq-trading-mining-bitcoin-news\/","title":{"rendered":"Publicly-Listed Bitcoin Miner Argo Blockchain Suspends Nasdaq Trading \u2013 Mining Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Bitcoin miner Argo Blockchain announced that it requested the suspension of trading its company shares on Dec. 27, as the company expects to make an announcement on Wednesday, Dec. 28, 2022. The company\u2019s stock has lost 96.34% year-to-date and on Dec. 12, the bitcoin miner \u201cadvanced negotiations with a third party to sell certain assets\u201d in order to \u201cstrengthen its balance sheet and improve its liquidity.\u201d<\/strong><\/p>\n

Argo Blockchain Requested a Suspension of Stock Trading Pending an Official Announcement<\/h2>\n

On Tuesday, Dec. 27, 2022, the publicly-listed bitcoin miner Argo Blockchain (Nasdaq: ARBK<\/a>) announced that it has requested the suspension of trading its shares via Nasdaq and the London Stock Exchange as well.<\/p>\n

Argo detailed that it believes trading will resume after the company makes an important announcement on Dec. 28. Argo disclosed that the announcement is \u201cexpected to be released before [the] opening of trading on Wednesday.\u201d<\/p>\n

Argo is one of many bitcoin mining operations that has suffered a great deal financially from the crypto winter. During the first week of Nov. 2022, Argo\u2019s stock was downgraded<\/a> by the financial institution Canaccord Genuity and Jefferies analysts.<\/p>\n

Another publicly-listed bitcoin mining competitor Core Scientific filed<\/a> for Chapter 11 bankruptcy protection last week, and in late Sept. 2022, Compute North filed<\/a> for Chapter 11 bankruptcy protection. Stats show<\/a> that publicly traded mining firms collectively have debts of more than $4 billion.<\/p>\n

Furthermore, Argo accidentally published<\/a> documentation that said it was voluntarily filing for Chapter 11 bankruptcy protection. However, documents<\/a> from Dec. 12, 2022, indicate the miner is in \u201cadvanced negotiations with a third party to sell certain assets.\u201d<\/p>\n

The company further said Argo \u201cis hopeful that it will be able to consummate the transaction outside of a voluntary Chapter 11 bankruptcy filing in the United States, although there is no assurance that the company can avoid such a filing.\u201d<\/p>\n

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Argo<\/a>, Argo Blockchain<\/a>, Argo shares<\/a>, Argo stock<\/a>, Bankruptcy<\/a>, Bitcoin Miners<\/a>, Bitcoin mining business<\/a>, BTC Mining<\/a>, Chapter 11<\/a>, Downgrade<\/a>, London Stock Exchange<\/a>, mining<\/a>, Mining Bitcoins<\/a>, nasdaq<\/a>, Nasdaq: ARBK<\/a>, Publicly Listed Bitcoin Miners<\/a>, Share Downgrade<\/a>, shares<\/a>, Stock<\/a>, Suspension of shares<\/a>, Suspension of trading<\/a><\/div>\n<\/div>\n

What do you think about Argo Blockchain suspending trading in order to make an announcement on Wednesday? Let us know what you think about this subject in the comments section below. <\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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Disclaimer<\/strong>: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com<\/a> does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.<\/p>\n<\/div>\n

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