AcquisitionStronghold Digital Mining announced a binding all-stock agreement to be acquired by Canadian-based Bitfarms for $175M, including covering roughly $50M in Stronghold debt, at $6.02 per share, a 71% premium to the 90-day average Stronghold share price.
Financial PerformanceStronghold generated $8.7M in March EBITDA, versus a $3.9M loss in the year-ago quarter.
PartnershipsAnother cash generation avenue should open through Stronghold's newly crafted agreement with Voltus, Inc. authorizing ERCOT-like demand response compensation on the PJM grid.