Struggling crypto firm seeks restructuring to avoid ‘liquidation’
Argo Blockchain, a London-listed cryptocurrency mining company, has secured a loan to finance a restructuring that is “necessary to avoid an uncontrolled insolvency and liquidation”.
The Bitcoin miner announced in its delayed 2024 financial results back in May that there was a “significant doubt” over its continued operations, with its shares briefly being suspended from trading for not meeting financial reporting requirements.
In an effort to avoid liquidation, Argo Blockchain has proposed a restructuring plan that has seen chairman and director Matthew Shaw resign and a significant capital injection from American group Growler Mining.
Growler will provide a loan of up to $7.5m (£5.5m) to facilitate the restructuring as…
