UK’s Argo Blockchain shares soar on deals to avoid bankruptcy

Published by
Reuters UK

By Sinchita Mitra and Anchal Rana (Reuters) -Crypto miner Argo Blockchain said on Wednesday it will sell its mining facility Helios for $65 million and refinance a new asset-backed loan as it seeks to avoid bankruptcy, sending its London-listed shares soaring. Argo, which earlier this month warned that it might have to file for Chapter 11 bankruptcy protection due to insufficient cash, said the deals will allow the company to continue its operations. London-listed shares of Argo, which have tumbled 92% so far this year, were up 120% to 8.5 pence in early trade, after the sale and refinancing a…

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