Shares of London-listed Argo Blockchain soared as the cryptocurrency miner tried to avoid bankruptcy by selling its mining facility and refinancing a new asset-based loan.
Argo said the deal would allow the company to continue operations after it warned earlier this month that it would file for Chapter 11 bankruptcy due to lack of funds.
Cryptocurrency miners have struggled due to rising fees and margin pressure from a drop in bitcoin prices and rising electricity rates.
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