Cryptocurrency mining company Argo Blockchain is undergoing major restructuring due to financial challenges, according to Cointelegraph. Growler Mining, one of its largest creditors, will assume control through a debt-for-equity swap. This means existing shareholders will see their stakes significantly diluted as Growler gains the majority of the company’s newly recapitalized equity, receiving approximately 87.5%. Bondholders of Argo’s $40 million unsecured notes will receive 10% and current shareholders will retain only 2.5%, respectively. This plan, known as Project Triumph, is designed to help the company avoid insolvency while maintaining its listing on Nasdaq. To achieve this, Argo has announced plans to delist from the London Stock Exchange after six years of operating as a publicly traded cryptocurrency company in the UK. The restructuring will include Growler injecting new capital and transferring ownership of its US mining assets into Argo in exchange for new shares. This plan also grants Growler operational control over the company’s aging equipment, aiming to modernize it before it becomes obsolete by 2026. If approved by the High Court, this restructuring will eliminate most of Argo’s debt, protect its listing on Nasdaq, and transfer control to its creditors. This restructuring has a significant impact on investors as they are expected to experience nearly a total loss and signify the end of Argo’s presence as a pioneering crypto company in Britain.