Boost

Bitcoin ETF

Bitcoin

Giant

<ul>
 <li>The company’s board of directors have begun an extensive evaluation of strategic options.</li>
 <li>Beard said that Stronghold has more than 130 MW of fully energized data center capacity.</li>
</ul>
In an attempt to optimize shareholder value, <a href="https://thenewscrypto.com/bitcoin-miner-riot-platforms-reports-211-8m-net-income-in-q1-2024/" target="_blank" rel="noopener noreferrer nofollow">Bitcoin</a> mining firm Stronghold Digital Mining is contemplating selling the firm, as stated in its first-quarter financial report.
The sale of “all or part of the company” or other strategic deals involving its assets are among the many options being considered by the corporation to increase its share price, according to industry reports.
<h3 class="wp-block-heading" id="h-evaluating-strategic-options">Evaluating Strategic Options</h3>
Furthermore, in its “strategic alternatives process,” the company made it clear that it has not yet established a due date and that it cannot guarantee that any deals, agreements, or proposals would be carried out in accordance with the review’s conditions.
Moreover, Stronghold CEO <a href="https://strongholddigitalmining.com/the-team/gregory-beard/#:~:text=Beard%20is%20a%20founding%20and,Partners%20LLC%2C%20and%20Parallaxes%20Capital." target="_blank" rel="noopener noreferrer nofollow">Greg Beard</a> said in a statement that the company’s board of directors and executive team have begun an extensive evaluation of strategic options with the goal of increasing shareholder value.
In addition, Beard said that <a href="https://strongholddigitalmining.com/" target="_blank" rel="noopener noreferrer nofollow">Stronghold</a> has more than 130 MW of fully energized data center capacity, with an established hash rate capability of 4.1 EH/s and the ability to increase this to more than 7 EH/s by upgrading its fleet with Bitcoin miners from the current generation.
Beard explained:
<blockquote class="wp-block-quote">
 “Unlike most other Bitcoin miners, we own over 750 acres of land with expansive access to water and fiber; we own the transmission lines that connect our assets to the attractive PJM grid; and our two wholly owned merchant power plants have over 160 megawatts (“MW”) of net output capacity and significant carbon capture potential.”
</blockquote>
The company’s chief executive officer went on to say that the 130 MW of Bitcoin mining capacity it now has might be increased to more than 400 MW in the future, for use in Bitcoin mining or advanced computing for AI and <a href="https://www.ibm.com/topics/machine-learning" target="_blank" rel="noopener noreferrer nofollow">ML</a> applications.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/european-banking-giant-bnp-paribas-invests-in-blackrock-bitcoin-etf/" target="_blank" rel="noopener noreferrer nofollow">European Banking Giant BNP Paribas Invests in Blackrock Bitcoin ETF</a>

Stronghold Digital Mining Mulls Company Sale for Shareholder Value Boost

Table of Contents

TheNewsCrypto

Other articles published on May 2, 2024

New research suggests Bitcoin mining centralized around Bitmain

Solana Price Prediction: SOL Pumps 11% As New ICO Sealana Bursts Out The Gate With $100K Fundraising

Is a Big Rally Coming for Bitcoin and Dogecoin? The Indicator That Knows the Previous Risings Bur...

Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag

New Crypto, Bitbot, Could 100X in 2024 According to Analyst Predictions

Verasity (VRA) Collaborates with Creo Engine for Enhanced Interactive Video Experience on Creo Play

Join our free newsletter for daily crypto updates!