Within the launched November operational replace, the agency states, “The Firm is endeavoring to finish such financing transactions to offer the Firm with working capital adequate for its current necessities.”
The agency is down -94.58% YTD in accordance with NASDAQ, and it mined 198 bitcoin within the month of November. As of November 30, Argo holds 126 bitcoin, “of which 116 have been BTC Equivalents.”
Beforehand, Bitcoin Journal PRO analysts Dylan LeClair and Sam Rule highlighted Argo as one in every of a number of struggling public miners. They famous {that a} $27 million October fundraise try didn’t undergo, which might have been along with a previous $70.6 million mortgage from NYDIG. Previous to October’s failed elevate, in August, Argo used a few of its BTC holdings to pay again bitcoin-backed mortgage obligations from Galaxy Digital.
