Argo Blockchain, a crypto miner whose shares trade on the London Stock Exchange (ARB) and Nasdaq (ARBK), said it requested a 24-hour suspension of U.S. trading. U.K. markets are closed Tuesday.
The London-based company, which has been in talks to secure financing, said it intends to make a statement before the start of trading on Wednesday.
The company said Dec. 12 it’s close to restructuring without having to declare bankruptcy. It is in advanced negotiations to sell some of its assets and carry out an equipment financing transaction to strengthen its balance sheet and improve its liquidity, it said at the time.