Stronghold digital mining announces extinguishment of debt and closing of previously announced whitehawk restructuring

New york, nov. 01, 2022 (globe newswire) -- stronghold digital mining, inc. (nasdaq: sdig) (“stronghold”, or the “company”) today announced (i) the extinguishment of the final approximately $2.1 million of the total of approximately $67 million of principal amount of debt outstanding with nydig abl llc (“nydig”) and the provident bank (“bankprov”) and (ii) the closing of its previously announced whitehawk restructuring and credit facility that resulted in $23 million of additional borrowing capacity. the company believes these moves are important steps in stronghold's plan to improve profitability and liquidity and to reduce leverage despite low bitcoin prices.
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