Professional
Added to YB: 2024-09-25
Pitch date: 2024-09-09
SDIG [bullish]
Stronghold Digital Mining, Inc.
-35.25%
current return
Author Info
No bio for this author
Company Info
As of March 17, 2025, Stronghold Digital Mining, Inc. was acquired by Backbone Mining Solutions LLC. Stronghold Digital Mining, Inc.
Market Cap
$42.0M
Pitch Price
$4.34
Price Target
N/A
Dividend
N/A
EV/EBITDA
-10.83
P/E
-1.24
EV/Sales
1.22
Sector
Software
Category
special_situation
$SDIG / $BTIF merger arb
SDIG: Bitfarms acquiring Stronghold for 2.52 BITF shares/SDIG share. 81% premium, $125M equity value. 4.0 EH/s BTC mining, 165 MW power gen, expansion to 307 MW. Break price $3.30, using $1.50 conservatively. 13.3% gross spread. RIOT owns 19.9% BITF, poison pill in place. Regulatory approvals needed. Small deal size limits institutional interest. 24% IRR potential.
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