Post Bitcoin Miner Stronghold Digital Terminated Hosting Deal That Reduced Debt By 60% Appeared First on Coinpedia Fintech News
Stronghold Digital Mining (SDIG) has terminated a hosting agreement with Northern Data (NB2X:GER) and reduced some of its obligations in its latest attempt to reverse its strained balance sheet.
According to a statement on Friday, the termination of Stronghold’s deal with Northern Data would remove any profit-sharing commitment, which it believes would have been $10 million to $25 million through September 2024.
Stronghold’s troubles began earlier this year when it failed to meet Wall Street’s earnings expectations and lowered its own hash rate expectation for 2022. Since then, the company has faced several hurdles, as cryptocurrency markets and shares have decreased.
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