Seeking Alpha
2021-12-20 17:22:09

Stronghold Digital Mining buys 9,080 bitcoin miners in December

Stronghold Digital Mining (NASDAQ:SDIG) enters into four separate deals to acquire 9,080 Bitmain and MicroBT miners so far in December. The aggregate hash rate capacity of these miners is ~826 petahash per second, and Stronghold (SDIG) expects 4.8K miners to be delivered by the end of December or early January, with the rest anticipated in the first half of 2022, the company says. The aggregate purchase price for the first 4.8K miners is ~$25.7M, representing less than $84 per terahash per second, with the remaining 4.28K miners bought under a profit share arrangement with its existing partner, Northern Data. These miner purchases "further our rapid growth strategy, and the near-term delivery schedules for the open-market purchases enhance expected return profiles and mitigate timing risk," said Stronghold CEO and Co-chairman Greg Beard. Still, shares of (SDIG -15.2%) fall to new record lows as bitcoin (BTC-USD -1.5%) continues to struggle. In mid-November,

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