Argo Blockchain (ARB) announced that a deal to raise 24 million British pounds ($27 million) from a strategic investor has fallen through, sending the bitcoin mining company’s shares down 72%The London-based firm, which signed a letter of intent earlier this month to sell 87 million shares to the investor in order to relieve liquidity pressures, did not explain why the agreement had been called off. It is negotiating additional transactions to provide working capital for the next 12 months. Argo shares have dropped as low as 4.25 pence and are currently trading around 7 pence. This year, they have lost 92% of their value.
