Armistice Capital got a 9.9% stake in a huge BTC company

The well-known hedge fund obtained a 9.9% beneficial interest in the mining company Stronghold Digital. Note that it was one of the owners there before, but its size remained unknown until this report.

Stronghold Digital is a large cryptocurrency mining company. It was among those most affected during the 2022 year’s crisis when the onset of the crypto-winter left even strong market players in distress.

Stronghold Digital has taken several actions to reduce its debt. In particular, on debt restructuring. The mining company recently managed to delay the payments for amortization till the middle of 2023, and also signed an agreement for two years with Foundry for hosting services. CEO Greg Beard praised the work that has been done.

We have been able to restructure almost the entire balance sheet and achieve a more sustainable position. It sets the stage for preparation for the next phase of development.