– Argo Blockchain has regained compliance with Nasdaq Listing Rules after fulfilling the minimum bid price requirement of $1.00 per share for ten consecutive trading days.
– The cryptocurrency miner received a notice from Nasdaq on Dec. 16, 2022, stating that the firm’s stock closed below the minimum $1.00 for 30 consecutive trading days.
– Nasdaq confirmed the matter to be closed after Argo Blockchain fulfilled the requirement.
Major cryptocurrency mining company Argo Blockchain has recently won back compliance with Nasdaq Listing Rules, after fulfilling the minimum bid price required by Nasdaq. On Jan. 23, 2023, Argo Blockchain announced that the firm got a notification from Nasdaq’s Listing Qualifications Department stating that the crypto miner regained compliance with the listing rule of the American stock exchange giant.
It all started when Argo Blockchain received a notice from Nasdaq on Dec. 16, 2022, stating that the company’s stock closed below the minimum $1.00 for 30 consecutive trading days. The company was expected to rectify the situation by June 12, 2023. To that end, Argo Blockchain was working diligently to maintain the required minimum bid price of $1.00 per share for ten consecutive trading days, which was finally achieved on Jan. 13, 2023.
Having fulfilled the requirement, Argo Blockchain stated that Nasdaq confirmed the matter to be closed. Before the latest announcement, Argo faced liquidity issues and was making efforts to avoid filing for bankruptcy. As reported by crypto.news, the crypto miner asked the UK Financial Conduct Authority (FCA) to restore trading of its ordinary shares on the London Stock Exchange.
Now, with the situation rectified, Argo Blockchain will continue to focus on its core activities and mission of providing crypto miners with the highest quality and most secure mining services in the world. The company is looking to expand its operations in the near future and is confident that the regained compliance with Nasdaq’s Listing Rules will help it achieve its goals.