Written by 6:19 am Bitcoin

Bitcoin mining company recoups $67M in debt selling 26,200 old rigs

The crypto crash early this year hit hard (opens in new tab), tanking the value of many coins. Bitcoin miners in particular had it rough with some of the biggest companies losing over $1B during the crash (opens in new tab). The massive losses are continuing to be dealt with by crypto companies and lenders (opens in new tab), and one has turned to selling off much of its mining hardware to offset the losses. You’ll forgive me if I can’t quite find the tears.

Tom’sHardware (opens in new tab) spotted the financial reports for one such company based in the US, called Stronghold Digital Mining. The statement noted that the company had recently managed to sell 26,200 of its mining rigs, recouping $67.4M in debt by doing so. 

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