The end of Stronghold’s deal with Northern Data will eliminate all profit sharing obligations, which it estimates would have been $10 million-$25 million (depending on the price of bitcoin) until September 2024, according to a statement on Friday. The cash outflow under the previous deal would be about 35% of miner revenue, net of a $0.027 per kilowatt-hour (kWh) in power costs, according to the statement. On top of that, Stronghold is absolved of about $2.6 million payable to Northern Data.
Source: https://www.coindesk.com/business/2022/10/14/bitcoin-miner-stronghold-digital-bolsters-balance-sheet-by-cutting-costs-slashing-debt-by-more-than-60/?utm_medium=referral&utm_source=rss&utm_campaign=headlines