American mining company Stronghold Digital Mining concluded four separate agreements for the acquisition of 9080 bitcoin mining ASICs from Bitmain and MicroBT.
The first batch of 4,800 devices with a total hash rate of about 426 PH / s is expected to be delivered by the end of 2021 or early January 2022. The purchase price was about $ 35.7 million – about $ 84 for 1 TH / s.
The remaining 4,280 miners were received by the firm under a profit-sharing agreement with its current partner, infrastructure provider Northern Data. Stronghold called the commercial terms of the deal “very favorable.”
According to a press release, the company has collectively purchased or installed over 54,000 Bitcoin mining devices with a combined hash rate of approximately 5.2 EH / s.
“In our third quarter financial statement, we told investors that we will continue to purchase miners from various sources in accordance with the expected return on investment and available capacity. This is exactly what we have been doing over the past two weeks, ”said Greg Beard, Co-Chair and CEO of Stronghold.
Separately, on December 15, the company entered into an agreement with NYDIG to finance the acquisition of approximately $ 54 million of equipment. The firm received an initial advance of $ 18.6 million. The principal outstanding debt is 9.85% and will be paid within 24 months.
Stronghold noted that the debt was due to the posting of collateral for the purchase of 12,000 miners from Bitmain.
“Equipment financing is our preferred source of non-equity capital, given Stronghold’s flexible terms and structure without recourse,” added Byrd.
On October 20, the company held an IPO on the Nasdaq, placing 6,687,305 Class A shares at a price of $ 19 for a total of $ 127 million. On the first day of trading, the closing price was $ 28.9. In the course of the growth, Stronghold quotes rose above $ 33 in early November, at the time of writing at premarket they are valued at $ 11.3.
Recall that in December NYDIG closed a record for the industry round of funding in the amount of $ 1 billion.
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American mining company Stronghold Digital Mining concluded four separate agreements for the acquisition of 9080 bitcoin mining ASICs from Bitmain and MicroBT.
The first batch of 4,800 devices with a total hash rate of about 426 PH / s is expected to be delivered by the end of 2021 or early January 2022. The purchase price was about $ 35.7 million – about $ 84 for 1 TH / s.
The remaining 4,280 miners were received by the firm under a profit-sharing agreement with its current partner, infrastructure provider Northern Data. Stronghold called the commercial terms of the deal “very favorable.”
According to a press release, the company has collectively purchased or installed over 54,000 Bitcoin mining devices with a combined hash rate of approximately 5.2 EH / s.
“In our third quarter financial statement, we told investors that we will continue to purchase miners from various sources in accordance with the expected return on investment and available capacity. This is exactly what we have been doing over the past two weeks, ”said Greg Beard, Co-Chair and CEO of Stronghold.
Separately, on December 15, the company entered into an agreement with NYDIG to finance the acquisition of approximately $ 54 million of equipment. The firm received an initial advance of $ 18.6 million. The principal outstanding debt is 9.85% and will be paid within 24 months.
Stronghold noted that the debt was due to the posting of collateral for the purchase of 12,000 miners from Bitmain.
“Equipment financing is our preferred source of non-equity capital, given Stronghold’s flexible terms and structure without recourse,” added Byrd.
On October 20, the company held an IPO on the Nasdaq, placing 6,687,305 Class A shares at a price of $ 19 for a total of $ 127 million. On the first day of trading, the closing price was $ 28.9. In the course of the growth, Stronghold quotes rose above $ 33 in early November, at the time of writing at premarket they are valued at $ 11.3.
Recall that in December NYDIG closed a record for the industry round of funding in the amount of $ 1 billion.
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