When the company accidentally published draft bankruptcy documents to its website, Argo Blockchain was forced to reveal that it is in last-ditch negotiations to raise capital. The company stated that they were still hoping to avoid a Chapter 11 filing, but that they were « at risk of having insufficient cash to support ongoing business operations within the next month ». The company has been trying to raise $25–35 million since late August, and when a $27 million equity deal fell through in early November, the miner acknowledged it might soon have negative cash flow.
As a result of the inadvertent publication of bankruptcy documents, the London Stock Exchange and Nasdaq paused trading on the company’s stock. The company published a statement saying they had requested trading be re-enabled, since they had not actually filed for bankruptcy (yet).