Stronghold Digital Mining Inc's Comment on Supply Chain
The company engages in trading mined Bitcoin with Genesis Global Trading, Inc. ("Genesis Trading"), a firm regulated by the New York Department of Financial Services and the SEC. It maintains a hosting agreement related to Bitcoin miners, with plans to acquire these miners through a combination of cash, equity, and profit sharing, after which the hosting arrangement will end. The bankruptcy of Genesis Holdco, an affiliate of Foundry Digital, LLC and Genesis Trading, has not materially affected the acquisition or hosting arrangements. The company secures its digital assets, including mined Bitcoin, using storage solutions from Anchorage Digital Bank ("Anchorage"), which employs multi-factor authentication. Mined Bitcoin is frequently liquidated through Anchorage. The company monitors liquidity and insolvency risks of third parties in the crypto asset sector but has not experienced material impacts to date.
Stronghold Digital Mining Inc's Comment on Supply Chain
The company engages in trading mined Bitcoin with Genesis Global Trading, Inc. ("Genesis Trading"), a firm regulated by the New York Department of Financial Services and the SEC. It maintains a hosting agreement related to Bitcoin miners, with plans to acquire these miners through a combination of cash, equity, and profit sharing, after which the hosting arrangement will end. The bankruptcy of Genesis Holdco, an affiliate of Foundry Digital, LLC and Genesis Trading, has not materially affected the acquisition or hosting arrangements. The company secures its digital assets, including mined Bitcoin, using storage solutions from Anchorage Digital Bank ("Anchorage"), which employs multi-factor authentication. Mined Bitcoin is frequently liquidated through Anchorage. The company monitors liquidity and insolvency risks of third parties in the crypto asset sector but has not experienced material impacts to date.
Sources:
Stronghold Digital Mining Inc 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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