Mining company Argo Blockchain faces the risk of delisting from Nasdaq due to a prolonged slump in its stock price.

PANews, July 30 - According to The Block, London-based Bitcoin mining company Argo Blockchain (NASDAQ: ARBK) has received a delisting notice from NASDAQ due to its stock price remaining below $1. The company was granted a 180-day "cure period" to increase its stock price but failed to meet the requirement of being above $1 for 30 consecutive days, triggering a delisting warning. Currently, ARBK's stock price is $0.31, down about 4% since the announcement. Argo has stated that it will apply for a hearing with the NASDAQ hearing panel, during which its stock will continue to trade on NASDAQ. The company has not announced any plans to increase its stock price or conduct a reverse stock split, and stated that it cannot guarantee compliance will be restored or successfully avoid delisting.