Stronghold Mining bought 9080 bitcoin miners

The company has raised $54 million for these purposes

21.12.2021 - 07:50

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What’s new? The US-based mining company Stronghold Digital Mining has agreed to purchase 9080 Bitmain and MicroBT ASIC miners for BTC mining. Before this, it agreed with NYDIG to finance the acquisition of the equipment for $54 million. This is stated in a press release from Stronghold Digital Mining.

The Stronghold Digital Mining message

What is known about the company's deal? Stronghold Digital Mining has entered into a total of four separate equipment purchase agreements. The company expects 4800 devices to be delivered by the end of the year or early January, with the remainder to be delivered in the first half of 2022. The total hashrate of the miners is expected to be 826 PH/s. They will be installed at Stronghold Digital-owned reclamation and power generation facilities.

“In our third-quarter results report, we told our investors that we would continue to purchase miners from a variety of sources, as dictated by the expected return on investment and available capacity, and that is what we did over the last two weeks,” announced Greg Beard, the company’s co-chairman and CEO.

On the news of the equipment acquisition, the company's shares fell by 15% to $10,69 during the main session on Monday, December 20.

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