Categories: Bitcoin Latest News

Bitcoin Miner Stronghold Digital Significantly Restructures Debt

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.

Recent Posts

Bitcoin Price Could Peak In 200 Days, Before US Recession In Mid-2025, Report Says

The current Bitcoin (BTC) rally could extend until mid-2025, with a potential price peak before…

2 hours ago

Bitcoin Price Steadies at $90K: Is Another Rally in Sight?

Bitcoin price extended gains above $90,000. BTC is now consolidating gains near $90,000 and might…

2 hours ago

Bitcoin Expected To Hit $100,000 Before 2025, According To Kalshi Data

Bitcoin (BTC) has hit new highs in recent days, with many users of crypto betting…

3 hours ago

The Protocol: Reinvent Ethererum, and Just Don’t Break Bitcoin

In founding editor Bradley Keoun's last issue of The Protocol, CoinDesk's weekly newsletter devoted to…

9 hours ago

Bitcoin Consolidates After Recent Surge – Metrics Reveal Moderate Selling Pressure

Bitcoin has reached a new all-time high of $90,243 following a week of relentless upward…

10 hours ago

The Truth About Bitcoin Price Models: Stock-to-Flow, Power Law, and Beyond

Predicting Bitcoin's price has always been a hot topic for investors. Matt Crosby, lead market…

10 hours ago