Argo Blockchain (NASDAQ: ARBK), a London-based bitcoin miner, was notified by Nasdaq of its intention to delist after its share price fell below $1 for a long time. The company has failed to maintain the minimum bid requirement since the beginning of the year, triggering a delisting defect notice on July 15. The current share price is $0.31, a sharp drop from $16.60 when it went public in 2021.
Argo said it would file a complaint with the Nasdaq hearing committee, and its shares could continue to trade during the hearing. The company has not announced any plans to boost its share price, such as a partnership restructuring, and has admitted that there is no guarantee that the complaint will be successful or return to compliance. The miner, which sold Helios, Texas' largest mine, in 2022 to avoid bankruptcy, now operates a hydroelectric mining facility in Quebec, Canada.
Nasdaq plans to delist bitcoin miner Argo Blockchain due to depressed stock prices, and the company applies for a hearing defense
2025-07-29 22:55:33
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