Bitcoin (BTC) mining company Argo Blockchain has regained share listing compliance with Nasdaq, which coincides with the recent positive movement seen in the cryptocurrency markets.

Amid the recent rally in the stock price, Argo made the formal announcement on January 23 that the company had once again succeeded in meeting the minimum offering price guideline imposed by Nasdaq. Argo has been informed by Nasdaq’s stock market listing requirements department that it has successfully met a criteria to maintain a minimum closing offer price of $1 for ten consecutive business days to be eligible to list on the stock market. from Nasdaq.

This criterion was met on January 13, and Nasdaq later confirmed that it believes the situation is resolved.

After notifying Argo on December 16 that the company did not meet Nasdaq’s minimum offering price standard, Nasdaq has now made this notice about a month and a half later.

The problem arose because Argo’s common shares had been unable to maintain their minimum offering price of $1 for the previous thirty consecutive business days, as required by Nasdaq listing rules.

Trading on the Nasdaq was temporarily halted because the cryptocurrency mining company was experiencing financial difficulties as a result of declining Bitcoin (BTC) prices in addition to rising energy expenses.

In September 2021, trading of the US Depository Shares (ADS) issued by Argo began on the Nasdaq Global Select Market under the ticker symbol ARBK.

After opening at a price of $15, ARBK’s shares have been continuously falling in price and, by October 2022, they will have fallen below $1.

After receiving a warning from Nasdaq in December that the company was about to default, ARBK shares finally began to recover.

According to information provided by TradingView, Argo’s share price reached $1 for a short period of time on December 30, but was unable to sustain that price.

After making another attempt at the price level on January 3, ARBK shares have continued to trade higher than before.

At the end of trading on January 20, the share price was $1.73.

Argo is not the only publicly traded Bitcoin mining company that has been fighting a losing battle to keep the value of its shares at $1 or more.

Canada-based Bitcoin mining business Bitfarms received a similar warning from the Nasdaq on Dec. 15 about its Bitfarms (BITF) shares.

Unlike ARBK, Bitfarms shares have yet to show enough growth to satisfy Nasdaq’s listing requirements.

After breaking above $1 for the first time on January 12, BITF dipped back below the barrier for the second time on January 18.