Stronghold Digital Mining had repeatedly delayed its earnings release.Read MoreCoinDesk
Stronghold Digital Mining, Inc. said Tuesday it is negotiating with its lenders over a possible debt restructuring or refinancing agreement that would keep the bitcoin miner afloat.
In a notice to the Securities and Exchange Commission, Stronghold pointed to these negotiations as the “principal” reason for its twice-delayed quarterly earnings release.
“Management’s efforts related to negotiating the potential debt restructuring transactions and evaluating the Company’s financial position, including its liquidity position, have required a significant amount of management’s time and other Company resources that normally would be devoted to the preparation of the Quarterly Report and related matters.”
Shares in Stronghold Digital fell 11% following the news.
This story will be updated.
DISCLOSURE
Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.
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 and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
The current Bitcoin (BTC) rally could extend until mid-2025, with a potential price peak before…
Bitcoin price extended gains above $90,000. BTC is now consolidating gains near $90,000 and might…
Bitcoin (BTC) has hit new highs in recent days, with many users of crypto betting…
In founding editor Bradley Keoun's last issue of The Protocol, CoinDesk's weekly newsletter devoted to…
Bitcoin has reached a new all-time high of $90,243 following a week of relentless upward…
Predicting Bitcoin's price has always been a hot topic for investors. Matt Crosby, lead market…