Struggling Bitcoin miner Argo Blockchain (LON: ARB) reported that it mined 198 Bitcoin or Bitcoin equivalent during November, but the company’s shares were suspended from trading on the London Stock Exchange Friday morning.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.
Argo has run into a number of difficulties this year. In October, it reported that its plans to raise £24 million ($27 million) via a subscription for ordinary shares failed, resulting in the company warning about its future.
WELCOME BONUS - Free Share Bundle When You Invest £50!
Open a UK Investment Account: Shares, ISAs, Managed Portfolio
Invest in 15,000+ shares and ETFs. Open an account now, invest at least £50, and you’ll get a free share bundle worth between £40 and £200. T&Cs apply.
IG
View Offers
Empfohlener Broker
Multi Asset Platform
Top Broker Recommendation
- IG Top-tier regulation – Read our Review
- eToro Wide range of instruments available to trade – Read our Review
YOUR CAPITAL IS AT RISK. 76% OF RETAIL CFD ACCOUNTS LOSE MONEY
Now the Financial Conduct Authority has temporarily suspended the company’s ordinary shares. While there were no details provided on the reason for the suspension, the FCA’s website says it may take the decision to temporarily suspend shares for a number of reasons (Page 2).
In a release this morning the statement from the FCA just read: “The Financial Conduct Authority (“the FCA”) temporarily suspends the securities.”
November Update
Earlier this morning, Argo published its November update, stating it mined 198 Bitcoin or Bitcoin Equivalents compared to 204 BTC in October, with the decrease primarily due to an increase in the Bitcoin network difficulty in November. Argo’s total hashrate capacity continues to be 2.5 EH/s.
Based on daily foreign exchange rates and cryptocurrency prices during the month, Argo’s November mining revenue fell to £2.94 million ($3.46 million) from October’s £3.55 million ($4 million).
As of November 30, the company held 126 Bitcoin, of which 116 were BTC equivalents.
Argo added that it is continuing to engage in financing discussions to provide it with working capital sufficient for its present requirements.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.