Cryptocurrency Analysis and News Portal
Stronghold Digital, a leading Bitcoin mining firm, announced the company has entered into a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of the bitcoin application-specific integrated circuit (ASIC) manufacturer, Canaan. Under the new partnership, Stronghold Digital plans to activate 2,000 Avalon A1346 miners and 2,000 A1246 models.
Read More
The 2,000 A1246 and 2,000 A1346 miners will provide a total capacity of 400 petahash per second (PH/S), according to an emailed announcement on Thursday. The A1246 miners will be installed by May 15, while the A1346 miners will be installed by a month later. Original Source
Read More
Fourth-quarter revenue of $23.4 million was driven mainly by selling energy to the power grid rather than crypto mining. Original Source
Read More
Stronghold also signed a two-year deal with miner hosting company Foundry for 4,500 miners, totaling approximately 420 petahash/second in computing power with an average efficiency of 35 joules/terahash. The hosting fee will be the realized net cost of power at Stronghold’s Panther Creek Plant plus 10%. Foundry and CoinDesk share
Read More
The preferred shares will be convertible into common stock at a conversion price of $0.40 per share. If all the preferred stock is converted, about 57.8 million shares of common shares would be issued, adding about 46% to the current common float, according to the company. The new preferred stock
Read More
"We are executing on the strategy we outlined during our second-quarter earnings announcement in August – to rapidly delever our balance sheet and enhance liquidity, and we are actively pursuing acquisitions of bitcoin miners at attractive prices to take advantage of the current distressed market while continuing to manage liquidity
Read More
The end of Stronghold's deal with Northern Data will eliminate all profit sharing obligations, which it estimates would have been $10 million-$25 million (depending on the price of bitcoin) until September 2024, according to a statement on Friday. The cash outflow under the previous deal would be about 35% of
Read More
"This delay principally relates to the Company’s ongoing negotiations of potentially material transactions with its lenders to restructure or refinance certain financing agreements in order improve the Company’s financial position, and for the Company to be able to continue as a going concern for at least the next 12 months,"
Read More
“Stronghold believes its liquidity position, combined with expected operating cash flow, will be sufficient to meet all existing commitments and fund operations,” the company said in a statement. “The Company also believes that incremental liquidity can be created through proceeds related to Bitcoin miner fleet management and optimization, including potential
Read More
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies
Read More