Argo Blockchain – pressnews

[ad_1] The London-based company’s stock has already tumbled more than 90% this year. The American depository receipts are down a similar amount. Shares of Argo Blockchain Plc were temporarily suspended by the UK's Financial Conduct Authority after the beleaguered Bitcoin miner disclosed a November decline in revenue. The London-based company's stock has already tumbled more than 90% this year. The American depository receipts are down a similar amount. In October, the mining firm was warned that it could be forced to shut down after a $27 million share sale appeared to have collapsed. In November, Argo said in a statement Friday that it had mined 198 Bitcoin, compared to 204 in October. Argo Blockchain said it continues to engage in financing discussions to provide the firm wit...

[ad_1] Bitcoin miner Argo Blockchain Pls tumbled the most since its 2018 initial public offering in London. Bitcoin miner Argo Blockchain Pls tumbled the most since its 2018 initial public offering in London after a $27 million share sale appeared to have collapsed, prompting the company to warn that it might have to shut down. The stock dropped as much as 73% and traded at £9.375 at 10:15 a.m. in London on Monday, down 40%. Argo has fallen 90% this year, as a slump in cryptocurrency prices roiled the mining industry. Argo said in a statement on Monday that it raised about $5.6 million by selling almost 4,000 new Bitmain mining machines and is exploring other funding avenues. “Should Argo be unsuccessful in completing any further financing, Argo would become cash flow negative ...

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Bitcoin Miner Argo’s Shares Suspended in UK as Revenue Declines

Bitcoin Miner Argo Shares Drop After Fundraising Fails