{"id":853871,"date":"2025-06-07T00:12:30","date_gmt":"2025-06-07T05:12:30","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/07\/argo-blockchain-shares-suspended-after-accounting-issues\/"},"modified":"2025-06-07T00:12:30","modified_gmt":"2025-06-07T05:12:30","slug":"argo-blockchain-shares-suspended-after-accounting-issues","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/06\/07\/argo-blockchain-shares-suspended-after-accounting-issues\/","title":{"rendered":"Argo Blockchain Shares Suspended After Accounting Issues"},"content":{"rendered":"<p>Bitcoins <\/p>\n<div id=\"page\">\n<div id=\"content_box\">\n<header>\n<div>\n<p><img loading=\"lazy\" alt src=\"https:\/\/secure.gravatar.com\/avatar\/2b5363381b9fb67e5d83a7331644feccb6ac7671ad22cc5b5555df342567c3bb?s=32&#038;d=mm&#038;r=g\"  height=\"32\" width=\"32\" decoding=\"async\"><\/p>\n<p><span><span>By <a href=\"https:\/\/fullycrypto.com\/author\/mahu_bs\" title=\"Posts by Mark Hunter\" rel=\"author\">Mark Hunter<\/a><\/span><\/span><\/p>\n<p><span><\/p>\n<p>1 month ago<span>Fri May 02 2025 05:38:57<\/span><\/p>\n<p><\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n<\/header>\n<p><img width=\"1300\" height=\"890\" src=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2025\/04\/Argo-Blockchain-Shares-Suspended-After-Accounting-Issues.png\" alt=\"bitcoins Argo-Blockchain-Shares-Suspended-After-Accounting-Issues\" title decoding=\"async\" fetchpriority=\"high\" data-layzr=\"https:\/\/fullycrypto.com\/wp-content\/uploads\/2025\/04\/Argo-Blockchain-Shares-Suspended-After-Accounting-Issues.png\">\t\t\t\t\t\t\t\t\t\t\t<\/p>\n<div>\n<p><span><span>Reading Time: <\/span> <span> 2<\/span> <span>minutes<\/span><\/span><\/p>\n<ul>\n<li aria-level=\"1\"><span>Argo Blockchain has delayed its 2024 financial report due to Securities and Exchange Commission-mandated restatements<\/span><\/li>\n<li aria-level=\"1\"><span>The company has requested a temporary suspension of its shares on the London Stock Exchange starting May 1, 2025<\/span><\/li>\n<li aria-level=\"1\"><span>Preliminary results indicate a widened net loss of $54.4 million for 2024<\/span><\/li>\n<\/ul>\n<p><span>UK <\/span><a href=\"https:\/\/fullycrypto.com\/crypto-guides\/how-to-mine-btc\/an-introduction-to-bitcoin-mining\"><span>Bitcoin mining<\/span><\/a><span> firm Argo Blockchain has postponed the release of its 2024 financial statements, citing the need to restate previous reports following Securities and Exchange Commission (SEC) feedback. Consequently, the company has requested a temporary suspension of its shares on the London Stock Exchange, effective May 1, 2025. This move follows financial strife in late 2022 when its shares were also suspended pending an anticipated bankruptcy.<\/span><\/p>\n<h2>Bitcoins <span>Financial Report Delayed<\/span><\/h2>\n<p><span>Argo Blockchain\u2019s financial statements were originally due by April 30, 2025, but are now expected around May 9, with the postponement attributed to the time and resources needed to amend the company\u2019s 2023 annual report following feedback from the SEC regarding the accounting treatment of digital assets. As a result of the delay, Argo has requested a temporary suspension of its ordinary shares from the Official List of the UK\u2019s Financial Conduct Authority and from trading on the London Stock Exchange\u2019s Main Market, effective from May 1, 2025. The company plans to seek reinstatement of its share listing following the publication of the 2024 financial statements.<\/span><\/p>\n<p><span>The SEC\u2019s review of Argo\u2019s Form 20-F for the year ended December 31, 2023, necessitated clarification of the accounting treatment for the company\u2019s digital assets. Argo filed the restated accounts on April 22, 2025, with the SEC completing its review by April 25, 2025. The restatement resulted in a reduced net loss for 2023 and 2022 and a lowered net income for 2021, alongside a reclassification of cash flows between operating and investing activities. Importantly, there was no change to the reported revenue or cash.<\/span><\/p>\n<h2>Bitcoins <span>Preliminary Reports Show $54.4 Million Loss<\/span><\/h2>\n<p><span>2022 and 2023 were difficult years for Argo, with the dwindling Bitcoin price and increasing energy costs seeing it <\/span><a href=\"https:\/\/fullycrypto.com\/argo-blockchain-bankruptcy-announcement-anticipated\"><span>flirting with bankruptcy<\/span><\/a><span>. As a result, trading of shares was suspended, with the company only surviving after <\/span><a href=\"https:\/\/fullycrypto.com\/argo-blockchain-staves-off-bankruptcyfor-now\"><span>selling off a newly opened U.S. arm<\/span><\/a><span>.<\/span><\/p>\n<p><span>In the interim, Argo has provided unaudited preliminary financial highlights for 2024, which indicate a total revenue of $47.0 million and a net loss of $54.4 million. The cash balance as of December 31, 2024, stood at $8.6 million.<\/span><\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p> Mark Hunter <a href=\"https:\/\/fullycrypto.com\/argo-blockchain-shares-suspended-after-accounting-issues?utm_source=rss&#038;utm_medium=rss&#038;utm_campaign=argo-blockchain-shares-suspended-after-accounting-issues\" class=\"button purchase\" rel=\"nofollow noopener\" target=\"_blank\">Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Mark Hunter 1 month agoFri May 02 2025 05:38:57 Reading Time: 2 minutes Argo Blockchain has delayed its 2024 financial report due to Securities and Exchange Commission-mandated restatements The company has requested a temporary suspension of its shares on the London Stock Exchange starting May 1, 2025 Preliminary results indicate a widened net loss<\/p>\n","protected":false},"author":1,"featured_media":853872,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4644,702],"tags":[11476],"class_list":{"0":"post-853871","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-blockchain","8":"category-shares","9":"tag-bitcoins"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/853871","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=853871"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/853871\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/853872"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=853871"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=853871"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=853871"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}