Miner Argo Blockchain suspended trading on Nasdaq

Bitcoin miner Argo Blockchain has demanded to temporarily suspend trading on Nasdaq in anticipation of an announcement to open on Wednesday, trading is expected to resume on Wednesday.

The UK-based company is also listed on the London Stock Exchange, which closed on Tuesday and trading on which was temporarily suspended earlier this month after the company accidentally published draft materials on its website stating that it voluntarily filed for Chapter 11 bankruptcy protection in US

Instead, the miner said it was in "preliminary talks with a third party" about selling certain assets and securing equipment financing.

"The company hopes to be able to complete the transaction outside of a voluntary Chapter 11 bankruptcy filing in the United States, although there is no guarantee that the company will be able to avoid filing such an application," the company said on December 12.
In October, Argo warned that cash flow would turn negative if it failed to raise money after the financing deal fell through. In this case, it would also have to cease operations, the company said at the time.

Last week, Rival Core Scientific filed for Chapter 11 bankruptcy.