Argo Blockchain, a London-based Bitcoin miner, is at risk of being delisted from the Nasdaq after failing to meet the exchange’s minimum share price requirement, the company said on Tuesday.

Argo received a notice from Nasdaq stating it hasn’t met the $1 minimum bid price required to stay listed. The company had been given 180 days to bring its stock price back in line, but after falling short for 30 straight trading days, it triggered a formal deficiency notice on July 15.

Argo said it plans to request a hearing with a Nasdaq panel, which would delay any delisting action until the process plays out. Its shares will continue to trade under the ticker ARBK in the meantime.

The stock, which debuted on Nasdaq at $16.60 in 2021, has struggled to recover from a steep decline. After trading around $0.60 at the start of the year, it dropped to $0.18 in June. Shares briefly rallied to $0.50 in mid-July but have since pulled back, now sitting at $0.31. The company’s market cap is about $27.6 million.

So far, Argo hasn’t announced any plans to lift its stock price, such as a reverse split — a common tactic to meet listing requirements.

“There can be no assurance that Argo will be able to regain compliance,” the company said, noting the outcome of the hearing remains uncertain.

Argo runs crypto mining operations in Quebec, Canada, and previously owned the Helios facility in Texas, which it sold to Galaxy Digital in 2022 during a liquidity crunch. In March, Argo named Justin Nolan, formerly of Arkon Energy, as CEO. The firm also touts its environmental credentials, having signed on to the Crypto Climate Accord in its push for sustainable mining.

The stock also trades in London under the ticker ARB.