Share this article
Bitcoin Miner Stronghold Looking at Options, Including Sale of Company
The miner is looking at options including sale of all or part of the company and other strategic transactions.
Updated May 2, 2024, 4:37 p.m. Published May 2, 2024, 1:02 p.m.
Bitcoin miner Stronghold Digital Mining (SDIG) has started exploring strategic alternatives that could include a potential sale of the company.
"The company is considering a wide range of alternatives to maximize shareholder value, including, but not limited to, the sale of all or part of the Company, or another strategic transaction involving some, or all of, the assets of the Company," the miner said in a press release on Thursday.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
Stronghold, the company that turns piles of coal waste into energy to mine bitcoin, said the move comes as there is a "valuation dislocation" of the stock compared to its other mining peers in the market.
“Stronghold’s Board and management team are committed to maximizing value for our shareholders and, to that end, have commenced a comprehensive and thorough review of strategic alternatives,” said Greg Beard, chairman and chief executive officer of Stronghold.
The company has hired Cohen and Company Capital Markets as financial advisers and said there isn't any specific timeline set for the completion of the review. The shares fell about 2% on Thursday.
The stock fell 62% this year, while peers such as Riot Platforms (RIOT) and Marathon Digital (MARA) fell about 40%. Bitcoin rose 39% so far this year.
Stronghold went public during the peak of the bull market in 2021. However, like many of its peers, it faced financial difficulties during the crypto winter due to a heavy debt load on its balance sheet. The company was able to avoid a similar fate as some of its peers that went bankrupt by restructuring its debt and shoring up the balance sheet in 2022 and 2023.
Mergers and acquisitions have been touted as one of the areas that will gain momentum after the halving, which made the mining landscape more competitive for the miners as rewards were cut in half.
There has already been an uptick in M&As in the mining industry as miners with stronger balance sheets started to buy up assets that are trading at low valuations.
Read more: Bitcoin Halving Is Poised to Unleash Darwinism on Miners
UPDATE (May 2, 16:36 UTC): Adds more context, updates share price performance.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Crypto Firm Tether Says It Wants to Take Over Italian Football Club Juventus
The issuer behind the most popular stablecoin said that if the bid succeeds, it prepares to invest $1 billion in the football club.
What to know:
- Tether said it aims to take over popular Italian football club Juventus FC.
- The firm proposed to acquire Exor's 65.4% stake in an all-cash offer, and intends to make a public offer for the rest of the shares.
- Tether reported net profits exceeding $10 billion this year, while its flagship token USDT is the world's dominant stablecoin with a $186 billion market capitalization.
Top Stories
