Stronghold shifts focus from bitcoin mining to selling power as it restructures debt

Bitcoin miner Stronghold pivots to selling power as it restructures its debt.

Bitcoin miner Stronghold announced a series of deals that cut down its debt by more than half. The deals involved returning about 26,200 mining machines to lenders.

The company said that it will be shifting its main focus away from bitcoin mining and into selling power to the grid in the next few months. The miner fell short of analyst expectations for the second quarter with $40.2 in net loss and $29.2 million in revenue.

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