​Stronghold Raises $ 54 Million and Purchases 9,080 Bitcoin Mi | Best Crypto Traders Official

​Stronghold Raises $ 54 Million and Purchases 9,080 Bitcoin Miners.

American mining company Stronghold Digital Mining has entered into four separate agreements to acquire 9080 ASIC miners for bitcoin mining from Bitmain and MicroBT.
The first batch of 4,800 devices with a total hash rate of about 426 PH / s is expected to be delivered by the end of 2021 or early January 2022. The purchase price was about $ 35.7 million - about $ 84 for 1 TH / s.
The remaining 4,280 miners were received by the firm under a profit-sharing agreement with its current partner, infrastructure provider Northern Data. Stronghold called the commercial terms of the deal "very favorable."
According to a press release, the company has collectively purchased or installed over 54,000 Bitcoin mining devices with a combined hash rate of approximately 5.2 EH / s.

“In our third quarter financial statement, we told investors that we will continue to purchase miners from various sources in accordance with the expected return on investment and available capacity. This is exactly what we have been doing over the past two weeks”, said Greg Beard, Co-Chair and CEO of Stronghold.

Separately, on December 15, the company entered into an agreement with NYDIG to finance approximately $ 54 million in equipment acquisition. The firm received an initial advance of $ 18.6 million. The principal outstanding debt is 9.85% and will be paid within 24 months.
Stronghold noted that the debt was due to the posting of collateral for the purchase of 12,000 miners from Bitmain.