Stronghold, a Bitcoin Miner, Is Converting Nearly $18 Million in Debt Into Equity

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As the global crypto market keeps declining with increased momentum, the cost of energy increases proportionally. Noteholders and Stronghold have made a deal that will ensure the conversion of nearly $18 million in debt into equity.

While meeting with the United States Security and Exchange Commission, Stronghold claimed that the notes would be converted to preferred stock with a $23.1 million face value. This deal is aimed at reducing the company’s debt while also improving its liquidity position.

Key Bitcoin Levels To Watch – January 2

BTCUSD is currently between two significant levels: $18385.00 and $15460.00. Before the phase, BTCUSD was also trading at some other significant levels. With the price still in the discount zone, it may soon move into the premium zone above the 50% Fibonacci retracement level.
Stronghold, a Bitcoin Miner, Is Converting Nearly $18 Million in Debt Into EquityThe market’s bearishness was triggered by the mitigation block on September 13, 2022. The MACD indicator shows that the market’s overall trend is bearish. The bears might keep storming the market with their sell orders until a change of character occurs to the upside.

Bitcoin Key Levels

Resistance Levels: $25214.00, $21479.00, $18385.00
Support Levels: $15460.00, $14099.00, $13116.00

Total Market Capitalization: $804.68B
Bitcoin Market Capitalization: $320.64B
Bitcoin Volume: $13.2B
Market Rank: #1

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.