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Stronghold Digital Mining Announces Exchange Agreement To Extinguish Convertible Notes and Strengthen Balance Sheet

Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, or the “Company”) announced that it has entered into an exchange agreement (the “Exchange Agreement”) with the holders (the “Noteholders”) of the Company’s Amended and Restated 10% Notes (the “Notes”), whereby all of the approximately $17.9 million of outstanding principal amount of debt and interest, which would accrue through maturity under the Notes, will be extinguished in exchange for shares of a new series of convertible preferred stock (the “Series C Preferred Stock”) with face value of approximately $23.1 million. The Series C Preferred Stock will be convertible into shares of the Company’s Class A common stock, or pre-funded warrants that may be exercised for shares of Class A common stock, at a conversion price of $0.40 per share. Assuming the conversion of all Series C Preferred Stock anticipated to be issued, approximately 57.8 million shares of Class A common stock would be issued, which would represent approximately 46% of the fully diluted shares outstanding pro forma for such conversion.

Riot Blockchain, Inc. Announces Corporate Rebranding To Riot Platforms, Inc.

Riot Platforms, Inc. (NASDAQ: RIOT) (“Riot,” “Riot Platforms, Inc.” or “the Company”), (formerly Riot Blockchain, Inc.) an industry leader in Bitcoin mining and data center hosting, announces that it has rebranded its corporate name from Riot Blockchain, Inc. to Riot Platforms, Inc.

Bitcoin Mining Difficulty Falls 3.6% Following Winter Freeze

Bitcoin’s mining difficulty fell 3.6% at 3:49 a.m. UTC on Jan. 3.

Bitcoin Mining, Explained

What is Bitcoin mining, and how does it work?
Bitcoin Mining, Explained

Bitcoin Mining Farm Bitfarms Co-founder and CEO Emiliano Grodzki Resigns

Emiliano Grodzki, co-founder and CEO of Canadian Bitcoin mining company Bitfarms, has resigned, according to a press release on Dec. 29. Emiliano Grodzki and Nicolas Bonta founded the mining company in 2017. As reported, Grodzki will remain as a director, whereas Bonta will become board chairman. Following Grodzki’s resignation, President and Chief Operating Officer Geoffrey Morphy has been elevated to the CEO position. (cryptoslate)

Mike Novogratz Calls Helios a ‘Transformative Acquisition’ for Galaxy

Galaxy Digital Holdings CEO Mike Novogratz has called the Helios mining deal a “transformative acquisition” for the firm as it works to increase its exposure to the Bitcoin mining sector. The crypto investment firm’s $65 million acquisition of Argo Blockchain’s flagship mining facility was announced on Dec. 28 as part of Argo’s drastic action to stave off bankruptcy. (Cointelegraph)

Bitcoin Mining Firm Bitfarm’s COO Geoffrey Morphy Promoted to CEO

Bitcoin mining firm Bitfarm promoted Geoffrey Morphy to the position of CEO after Emiliano Grodzki resigned from the post.

2 Bitcoin Mining Pools Command More Than 53% of BTC’s Total Hashrate

Bitcoin’s hashrate has jumped from the low 170 exahash per second (EH/s) recorded this week, to above the 300 exahash range after a number of bitcoin mining operations from Texas temporarily went offline on Dec. 25, 2022. Furthermore, three-day hashrate distribution statistics recorded on Dec. 29, 2022 indicate that two mining pools command more than 50% of the global hashrate.

Argo Blockchain Shares Soar After Selling Texas Mining Facility to Galaxy Digital

London-based Bitcoin miner Argo Blockchain PLC’s stock price spiked by more than 100% during U.K. trading hours on Wednesday and closed up 73.33% on the London Stock Exchange after the company announced it would sell its Texas-based Helios facility to Galaxy Digital Holdings Ltd, a financial services and investment management firm led by billionaire investor Mike Novogratz. (forkast)

Bitcoin Hash Rate Falls 13% in One Day, Mining Difficulty Estimated To Drop 10%

Bitcoin’s (BTC) hash rate fell 13% on Dec. 27 to 202.17 EH/s from around 240 EH/s recorded on Dec. 26.