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
Stronghold Digital Mining, Inc., a crypto asset mining company, focuses on Bitcoin mining in the United States.
Market Cap
$49.7M
Pitch Price
$4.34
Price Target
N/A
Dividend
N/A
EV/EBITDA
-11.73
P/E
-1.48
EV/Sales
1.32
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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