H.C. Wainwright Downgrades Stronghold Digital Mining Inc (SDIG) to Neutral

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Go back to H.C. Wainwright Downgrades Stronghold Digital Mining Inc (SDIG) to Neutral

Bitfarms (BITF) to Acquire Stronghold Digital Mining

August 21, 2024 7:06 AM EDT

Bitfarms Ltd. (Nasdaq/TSX: BITF) (Bitfarms), a global vertically integrated Bitcoin data center company, and Stronghold Digital Mining, Inc. (Nasdaq: SDIG) (Stronghold) have entered into a definitive merger agreement (the Merger Agreement) under which Bitfarms will acquire Stronghold in a stock-for-stock merger transaction (the Transaction). The Transaction is valued at approximately US$125 million equity value plus the assumption of debt valued at approximately US$50 million.

Stronghold is a vertically integrated crypto asset mining company focused on mining Bitcoin and environmental remediation and reclamation services. As of June 30, 2024, Stronghold has a... More