Argo Blockchain: the situation is complicated, and the company may file for bankruptcy today

The financial situation of Argo Blockchain miner is difficult: the company is close to bankruptcy, and there is a possibility that it will file for bankruptcy today.

Will Foxley, Chief Content Officer, shared a screenshot from Twitter indicating that Argo Blockchain is about to file for bankruptcy. However, he noted that he probably got this information by mistake.

Souce: Twitter

Nevertheless, the screenshot is likely true, as the company’s financial situation is actually very dire. The reported drop in earnings led to the halting of Argo Blockchain securities trading by order of the U.K. Financial Services Authority. The lack of profitability was a result of the lingering crisis in the crypto market.

The mining company had previously said its operations could be discontinued. Two months ago, Argo was looking for an investor and was in the process of selling off previously purchased equipment. However, it seems that all the measures taken could not help it stay afloat.