Argo Blockchain, the only U.K.-listed cryptocurrency miner, reported a net loss of £194.2 million ($240 million) for 2022 due to the falling price of bitcoin and increased mining difficulty, which drove up costs. The company avoided bankruptcy by selling its Helios mining facility in Texas to Galaxy Digital for $65 million and securing a new $35 million loan from Michael Novogratz’s crypto-focused financial-services firm, secured by its mining equipment. Argo Blockchain's interim CEO said the company has emerged stronger and in a more solid financial position. The news caused shares of the company to fall 3% in early trading in London.

(By Sheldon Reback)