Publicly-Listed Bitcoin Miner Argo Blockchain’s Stock Gets Downgraded, Firm Offloads Close to 4,000 Bitmain Miners
On Oct. 31, 2022, the publicly-listed bitcoin miner Argo Blockchain revealed the firm’s attempt to obtain $27 million in a scheduled financing deal fell through. According to the company’s October update, Argo said it did not believe the deal “will be consummated” and now two market analysts have downgraded the company’s shares. Argo Blockchain’s $27 Million Financing Deal Falls Through, Stock Shudders, Wall Street Analysts Downgrade ARBK Shares Bitcoin miners have been facing significant pressures as a couple of publicly-listed mining firms have faced financial hardships and bankruptcies . The recent mining difficulty all-time high has not helped, and the fact that Bitcoin’s hashrate price reached an all-time low, it has crippled specific mining businesses. Following the speculation surrounding mining companies like Compute North and Core Scientific, Argo Blockchain (Nasdaq: ARBK ) has given investors an unsettling update concerning a $27 million financing deal that fell throu...