Bitcoin Miner Stronghold Digital Significantly Restructures Debt

Stronghold Digital Mining, Inc. said Tuesday it is negotiating with its lenders over a possible debt restructuring or refinancing agreement that would keep the bitcoin miner afloat.

In a notice to the Securities and Exchange Commission, Stronghold pointed to these negotiations as the “principal” reason for its twice-delayed quarterly earnings release.

“Management’s efforts related to negotiating the potential debt restructuring transactions and evaluating the Company’s financial position, including its liquidity position, have required a significant amount of management’s time and other Company resources that normally would be devoted to the preparation of the Quarterly Report and related matters.”

Shares in Stronghold Digital fell 11% following the news.

This story will be updated.