Stronghold digital mining provides update on previously announced debt reduction and favorable mutual termination of northern data hosting agreement

New york, oct. 14, 2022 (globe newswire) -- stronghold digital mining, inc. (nasdaq: sdig) (“stronghold”, or the “company”) today provided an update on its previously announced agreement with nydig abl llc (“nydig”) and the provident bank (“bankprov”), to eliminate approximately $67 million in principal amount of debt outstanding (the “debt”) under equipment financing agreements. separately, the company also announced its recent mutual termination and settlement of its data center hosting agreement. the company believes that the settlement is materially beneficial to cash flow generation and operational flexibility. stronghold has posted an investor presentation to its investor relations website to supplement this press release, which can be found in the events and presentations section.
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