Streetbeat News

SDIG

Stronghold Digital Mining, Inc.

https://www.strongholddigitalmining.com

Industry

Financial - Capital Markets

Stronghold Digital Mining, Inc., a crypto asset mining company, focuses on mining Bitcoin in the United States. It also operates coal refuse power generation facilities. The company was incorporated in 2021 and is headquartered in New York, New York.

Open

5.18

Mkt cap

77M

Volume

928K

High

5.35

P/E Ratio

-3.81

52-wk high

11.56

Low

5.10

Div yield

N/A

52-wk low

1.65

HC Wainwright & Co. has downgraded Stronghold Digital Mining (NASDAQ:SDIG) from Buy to Neutral, as per analyst Kevin Dede.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2024 | 12:30 pm

U.S. stocks rose with the Nasdaq gaining 0.5%. TJX Companies reported strong earnings, beating estimates and raising its fiscal 2025 outlook. BigBear.ai, PROCEPT BioRobotics, and Stronghold Digital Mining saw significant stock price increases, while Eyenovia, Macy's, and PagSeguro Digital experienced declines.

Portfolio Pulse from Avi Kapoor

August 21, 2024 | 6:43 pm

U.S. stocks traded lower with the Dow Jones, NASDAQ, and S&P 500 all experiencing declines. BigBear.ai shares surged 35% after a subcontractor award, while Smart for Life shares rose 96% due to acquisition talks. Stronghold Digital Mining shares increased 68% following a merger agreement. Eyenovia shares fell 37% after a public offering announcement, Macy's dropped 13% due to weak sales, and PagSeguro Digital fell 12% after second-quarter results.

Portfolio Pulse from Avi Kapoor

August 21, 2024 | 4:15 pm

Bitfarms Ltd. (NASDAQ:BITF) is acquiring Stronghold Digital Mining, Inc. (NASDAQ:SDIG) in a $175 million deal, including $50 million in assumed debt. The merger, expected to close in Q1 2025, will expand Bitfarms' operational capacity and energy portfolio, reflecting a trend of consolidation in the Bitcoin mining industry.

Portfolio Pulse from Murtuza Merchant

August 21, 2024 | 3:53 pm

U.S. stocks rose with the Dow Jones, NASDAQ, and S&P 500 all gaining. Target Corporation reported strong earnings, boosting its stock. Revelation Biosciences, Smart for Life, and Stronghold Digital Mining saw significant stock price increases, while Eyenovia, Mynaric, and Santech Holdings experienced declines.

Portfolio Pulse from Avi Kapoor

August 21, 2024 | 2:29 pm

Bitfarms Ltd (NASDAQ:BITF) is acquiring Stronghold Digital Mining Inc (NASDAQ:SDIG) in a $125 million merger, boosting its U.S. Bitcoin mining capacity. Bitfarms shares fell 6.8%, while Stronghold shares surged 63%. The merger, approved by both companies' boards, is expected to close in Q1 2025.

Portfolio Pulse from Henry Khederian

August 21, 2024 | 1:15 pm

Stronghold Digital Mining shares rose following the announcement of a definitive merger agreement to be acquired by Bitfarms.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 11:53 am

Stronghold shareholders will receive 2.52 shares of Bitfarms for each Stronghold share, valuing each Stronghold share at $6.02. Post-transaction, Stronghold shareholders will own just under 10% of the combined company. The merger aims to enhance Bitfarms' energy capacity significantly by 2025.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 10:34 am

Bitfarms has agreed to acquire Stronghold Digital Mining in a stock-for-stock merger valued at $125 million in equity, plus the assumption of $50 million in debt. This merger could impact the stock prices of both companies.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 10:31 am

HC Wainwright & Co. analyst Kevin Dede maintains a Buy rating on Stronghold Digital Mining (NASDAQ:SDIG) but lowers the price target from $7 to $4.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 4:24 pm

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