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NewsBTC 2022-11-01 21:57:10

Bitcoin Mining Giant Argo Blockchain Gets Negative Cash Flows And Stock Price Dips

Though the crypto winter seems to be over, its impact on Bitcoin and the crypto market still lingers. Several crypto-related firms have gone down the drain over the pressure in the market. Some are still battling to stay afloat despite the forces’ influence while managing their operations. Most companies related to Bitcoin mining are getting more heat from the fluctuating market trend. Most Bitcoin miners have shut down businesses, but some filed for bankruptcy as they couldn’t weather the storm. Related Reading: Bitcoin Miner Selling Power At Lowest For 2022, Green Sign For Market? Argo Blockchain is reportedly facing a negative cash flow, with the value of its shares declining. The pressure is getting more intense for the crypto mining giant in financing its continuous operation. More failures in such financing quests could lead to a halt in its process or a drastic cash drop in the future. Bitcoin Mining Giant Argo Blockchain With No Adequate Sources To Fight Insolvency The BTC miner released a press statement disclosing its previous financial plans. It noted how the firm has been exploring diverse economic opportunities. However, it has no concrete assurance in signing such agreements or completing fruitful transactions. It revealed that the company needs to consummate financial activities offering enough working capital for its operational requirements. Such economic growth is necessary for its sustainability ...