Stronghold Digital Adds 826 PH/s Crypto Mining Capacity To Its Operation

Stronghold Digital Mining (NASDAQ: SDIG) this morning indicated it has acquired further crypto mining assets. The firm has entered into a total of four separate arrangements to acquire additional miners that are to be installed at the firms facilities.

The arrangements will see 9,080 miners in total added to the firms operations, with new models consisting of Bitmain and MicroBT miners. Collectively, the new miners are to add a total of 826 PH/s of capacity to the current operations, bringing the total capacity of Stronghold to 5.2 EH/s based on outstanding purchase agreements and installed capacity.

Roughly half of the new miners, 4,800, are to be delivered by early January, while the remaining miners are to be delivered in the first half of 2022. This first batch of miners contains a price tag of $35.7 million, while the remainder are to be purchased via a profit share agreement with Northern Data.

The company also indicated this morning it has entered into an equipment financing credit facility with NYDIG ABL LLC. The facility will see up to $54.0 million in funding provided to the company for a period of two years, with the debt bearing interest at 9.85% per annum. The first advance under the facility amounted to $18.6 million and has already been received.

Stronghold Digital last traded at $12.59 on the Nasdaq.

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