Argo Blockchain reports insufficient funds, ‘no assurance’ it can avoid Chapter 11 bankruptcy By Cointelegraph
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Crypto mining firm Argo Blockchain has reported it had been negotiating to sell assets and “engage in an equipment financing transaction” in an effort to avoid filing for bankruptcy.
In a Dec. 12 announcement, Argo Blockchain said it was at risk of having insufficient funds to continue operating within a month, and was in the middle of “advanced negotiations” to sell certain assets. Though the mining firm said it had not filed for Chapter 11 bankruptcy in the United States, “inadvertently published materials” related to the company’s financial situation led to the suspension of trading on the London Stock Exchange, or LSE, and Nasdaq on Dec. 9.
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Crypto mining firm Argo Blockchain has reported it had been negotiating to sell assets and “engage in an equipment financing transaction” in an effort to avoid filing for bankruptcy.
In a Dec. 12 announcement, Argo Blockchain said it was at risk of having insufficient funds to continue operating within a month, and was in the middle of “advanced negotiations” to sell certain assets. Though the mining firm said it had not filed for Chapter 11 bankruptcy in the United States, “inadvertently published materials” related to the company’s financial situation led to the suspension of trading on the London Stock Exchange, or LSE, and Nasdaq on Dec. 9.
Continue Reading on Coin Telegraph
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