Argo Blockchain Suspends Trading in US Shares for 24 Hours
The company said earlier this month it was close to restructuring without having to declare bankruptcy.
Dec 27, 2022 at 12:06 p.m. UTC:format(webp)/cloudfront-us-east-1.images.arcpublishing.com/coindesk/3OS3GLJAEFEBXPPQYV26CESOJQ.JPG)
Argo Blockchain's Helios facility in Dickens County, Texas. (Argo Blockchain)
Argo Blockchain, a crypto miner whose shares trade on the London Stock Exchange (ARB) and Nasdaq (ARBK), said it requested a 24-hour suspension of U.S. trading. U.K. markets are closed Tuesday.
The London-based company, which has been in talks to secure financing, said it intends to make a statement before the start of trading on Wednesday.
On Dec. 12, the company said it was close to restructuring without having to declare bankruptcy. At that time, it said it was in advanced negotiations to sell some of its assets and carry out an equipment financing transaction to strengthen its balance sheet and improve its liquidity.
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Sheldon Reback is a CoinDesk news editor based in London. He owns a small amount of ether.
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