Bitcoin News Today: Nasdaq Delists Argo Blockchain After 61.8% Stock Decline Fails $1.00 Bid Price Requirement

Nasdaq has announced the delisting of Argo Blockchain PLC following its failure to maintain compliance with the exchange’s minimum $1.00 bid price requirement under Listing Rule 5505 [3]. The decision, formalized in a July 29, 2025, notice, follows 30 consecutive trading days with the company’s stock price below the threshold. As of July 24, 2025, Argo’s shares closed at $0.382, reflecting a 61.8% decline over the preceding months [2]. This marks a significant development for the UK-based cryptocurrency mining firm, which has struggled to stabilize its market position amid broader crypto sector volatility.

The delisting process grants Argo Blockchain a 30-day window to request a hearing before a Nasdaq Hearings Panel and propose a compliance plan. Potential corrective measures could include a reverse stock split, merger, or other restructuring actions. If unsuccessful, the company’s securities will be removed from Nasdaq’s trading system, prompting a likely shift to over-the-counter (OTC) markets. Such a transition would typically result in reduced liquidity, wider bid-ask spreads, and diminished investor visibility [1].

Argo’s stock performance has deteriorated sharply, with its share price dropping 48.3% by mid-June 2025 [4]. This decline has raised concerns about the firm’s ability to sustain market standards, particularly as it operates Bitcoin and Ethereum mining operations amid declining profitability and regulatory uncertainties. While the company has explored debt financing and cost optimization strategies, these efforts have not translated into consistent stock performance. The delisting underscores the fragility of crypto firms lacking diversified revenue streams or robust balance sheets.

The interim CEO, Seif El-Bakly, has signaled the company’s intent to challenge the decision, emphasizing that the outcome remains uncertain. Management has cautioned that there is no assurance the appeal will succeed or that future compliance with Nasdaq standards is guaranteed. The delisting, however, does not directly impact Argo’s cryptocurrency holdings, such as BTC or ETH, which remain unaffected [1].

The move reflects Nasdaq’s enforcement of listing standards to preserve the quality of its indices. While technical in nature, it highlights a broader trend of market consolidation in the crypto sector, where firms unable to demonstrate financial resilience face increasing scrutiny. Investors and analysts are closely monitoring Argo’s response, as the outcome could set a precedent for other crypto-related entities grappling with similar challenges.

Sources:

[1] https://m.economictimes.com/crypto-news-today-live-30-jul-2025/liveblog/122982426.cms

[2] https://www.ainvest.com/news/argo-blockchain-faces-nasdaq-delisting-adrs-drop-61-8-0-382-1-00-floor-2507/

[3] https://www.pr.com/press-release/944367

[4] https://www.ainvest.com/news/bitcoin-news-today-argo-blockchain-48-3-stock-price-drop-fails-meet-nasdaq-1-00-bid-requirement-2507/