Mining Firm Argo Blockchain Manages to Remain Listed on the Nasdaq
British cryptocurrency mining company Argo Blockchain has just announced it has been able to successfully meet Nasdaq’s requirements to keep its shares on the exchange.
Recall that the exchange warned the company in December that it could remove its shares from the platform because they had been trading below $1 for 30 days, which violates exchange rules. Argo Blockchain applied to suspend its trading shortly thereafter.
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According to the announcement:
“To regain compliance, the Company was required to maintain a minimum closing bid price of $1.00 for ten consecutive trading days. This requirement was met on 13 January 2023. Accordingly, the Company has regained compliance with Listing Rule 5450(a)(1), and Nasdaq has confirmed to the Company that it considers this matter closed.”
Recall that the London and New York stock exchanges announced last month the termination of trading in Argo Blockchain shares without giving reasons.
The same month, the company decided to sell its flagship data center in Texas to Galaxy Digital for $65 million.
Argo Blockchain mined 147 BTC in December.