Stronghold Digital to restructure $18M debt with convertible preferred shares
The proposed restructuring transaction will reduce Bitcoin mining firm Stronghold Digital's debt to less than $55 million.
Track crypto bankruptcies, restructurings, creditor updates, and court filings tied to failed exchanges, lenders, and digital asset firms.
The commission said it would only release the assets to creditors and customers that own them or the joint provisional liquidators as directed by The Bahamas Supreme Court.
The CEO position has been taken over by Bitfarms President and Chief Operating Officer, Geoffrey Morphy
Customers are concerned about fraud and a reduced ability to sell recovered assets.
Investors are circling to scoop up bankruptcy claims for a fraction of their value, with plenty of willing sellers wanting out.
A judge will decide whether to move the assets in January 2023.
CryptoSlate's analysis of potential all-time high miner capitulation in 2023 and whether mining BTC selloff will occur.