Stronghold Digital Mining, Inc. (NASDAQ: SDIG) Garners Support for Pending Merger
In an exciting development, Stronghold Digital Mining, Inc. (NASDAQ: SDIG) revealed that two prominent proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both backed the upcoming merger between Stronghold and Bitfarms Ltd. (NASDAQ/TSX: BIT). The special meeting of Stronghold’s stockholders is scheduled for February 27, 2025.
ISS, in their report dated February 14, 2025, expressed confidence in the merger process, highlighting the expected cost savings and the opportunity for SDIG shareholders to benefit from the potential upside of a larger entity. Similarly, Glass Lewis, in their report dated February 12, 2025, recommended shareholders to support the Merger.
Gregory Beard, the Chief Executive Officer, President, and Chairman of Stronghold, expressed delight over the endorsement from both proxy advisory firms. He stressed the significance of shareholders voting in favor of the merger at the upcoming special meeting on February 27, 2025.
As the special meeting draws near, Stronghold emphasized the importance of every stockholder’s vote, regardless of the number of shares they hold. The company urged all shareholders to cast their votes by the methods outlined in the proxy statement before the deadline of 11:59 p.m. Eastern Time on February 26, 2025.
For further information on the merger, including access to the joint prospectus/proxy statement, interested parties can visit sec.gov. Shareholders with queries regarding the proxy statement or the voting process can reach out to Stronghold’s proxy solicitor, MacKenzie Partners, Inc., either via phone at 1-800-322-2885 or through email at [email protected].
About Stronghold Digital Mining, Inc.
Stronghold Digital Mining, Inc. is a vertically integrated Bitcoin mining company that prioritizes environmentally sustainable operations. The company houses its miners at the Scrubgrass and Panther Creek plants, owned and operated by Stronghold in Pennsylvania. These facilities are characterized by low-cost operations and eco-friendly coal refuse power generation.
Forward-Looking Statements
The communication includes forward-looking statements subject to federal securities laws. These statements address future business events, conditions, expectations, and plans, often highlighting opportunities and risks. Stronghold emphasizes the uncertainties inherent in such statements and acknowledges the risks associated with the proposed merger with Bitfarms Ltd. Factors such as completion delays, litigation risks, and operational disruptions post-merger could impact Stronghold’s business and financial standing.
Additional Information about the Merger and Where to Find It
Stronghold advises investors to thoroughly read the proxy statement/prospectus and other relevant documents filed with the SEC related to the merger. By examining these documents in their entirety, investors can gain essential insights into the proposed merger and its implications for all stakeholders. Copies of these documents are available on the SEC website or can be obtained directly from Bitfarms and Stronghold.
No Offer or Solicitation
This communication does not constitute an offer to sell or solicit securities or proxies. Investors are advised to consult the appropriate regulatory filings and documents before making any investment decisions related to the proposed merger. Compliance with securities laws and due diligence are crucial steps for informed decision-making.
In closing, the momentum behind Stronghold’s pending merger with Bitfarms shines brightly with the backing of ISS and Glass Lewis. Shareholders are encouraged to vote in favor of the merger, recognizing the potential benefits for all parties involved. As the merger date approaches, clarity, transparency, and shareholder engagement remain paramount for Stronghold and its ongoing strategic initiatives.