Bitcoin mining company Argo Blockchain (ARBK) has requested Nasdaq to temporarily suspend trading of its unsecured notes until Dec. 28, citing an upcoming announcement.
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The company declined to go into details, but said in a press release that the information includes "forward-looking statements" which reflect the Argo's expectations regarding its financial performance.
In late October, Argo Blockchain said it had failed to raise $27 million from a strategic shareholder, sending its shares losing over 56%.
The London-headquartered company wrote in an open statement to shareholders that it would explore new options for funding. If Argo fails to find any further financing, it would become "cash flow negative" in the near term and would need to "curtail or cease operations," the company noted.
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