Stronghold Digital Mining Encourages Stockholders to Vote FOR Merger
Stronghold Digital Mining Urges Stockholders for Support
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) has made a significant statement regarding its planned merger with Bitfarms Ltd. (NASDAQ/TSX: BITF). With the special meeting of stockholders approaching, the company emphasizes the importance of shareholder participation in the upcoming vote.
Leading independent proxy advisory firms, Institutional Shareholder Services (ISS) and Glass Lewis & Co., have both issued recommendations urging Stronghold stockholders to vote "FOR" the merger at this critical meeting.
Understanding the Merger Proposal
In a recent report, ISS recognized the thoroughness of Stronghold's sale process, highlighting expectations of cost savings and the benefits of an arrangement that would allow current SDIG shareholders to benefit from the growth of a larger entity. The firm expressed confidence that the merger aligns well with stockholder interests.
Glass Lewis reinforced this perspective, also advising stockholders to support the merger. This strong endorsement from both firms exhibits confidence in Stronghold's decision and its future direction.
Statements from Leadership
Gregory Beard, the CEO of Stronghold, expressed satisfaction with the backing from these respected advisory firms, indicating that this reflects a united support for the Board’s recommendation. Beard articulated that every vote is vital, regardless of the number of shares owned, urging stockholders to participate in the voting process before the deadline.
Details on the Upcoming Special Meeting
The special meeting is slated for February 27, 2025, which has prompted Stronghold to actively remind its stakeholders to cast their votes. The company calls on its stockholders to explore the various methods outlined in the proxy statement to ensure their voices are heard.
Contact Information for Assistance
For stockholders with questions or in need of further information regarding the merger or the voting procedure, Stronghold's proxy solicitor MacKenzie Partners, Inc. is available to assist at a toll-free number. They can provide clarity and guidance to ensure that every stockholder can effectively participate in the meeting.
About Stronghold Digital Mining
Stronghold Digital Mining specializes in environmentally conscious Bitcoin mining. The company operates its mining facilities in Pennsylvania, focusing on sustainable practices that contribute positively to the environment. Their commitment to utilizing coal refuse power generation is an integral part of their operations, where they prioritize cost efficiency and ecological responsibility.
Future Outlook and Stockholder Engagement
While the recommended merger presents an exciting opportunity for Stronghold and Bitfarms, the leadership team remains focused on maintaining strong relationships with stakeholders during this transition. They recognize that shareholder trust will be vital as they proceed with the merger, and management is dedicated to ensuring transparency and open communication throughout the process.
The merger presents promising potential as both companies align to enhance their operations and market presence. The collective efforts of Stronghold and Bitfarms under this union aim to streamline operations to maximize value for their stockholders.
Frequently Asked Questions
What is the upcoming special meeting about?
The special meeting will discuss the potential merger between Stronghold Digital Mining and Bitfarms, where stockholders will have the opportunity to vote.
Why are ISS and Glass Lewis recommending a vote FOR the merger?
Both ISS and Glass Lewis believe the merger will provide cost savings and growth opportunities for shareholders of Stronghold.
How can stockholders participate in the vote?
Stockholders can cast their votes through the methods detailed in the proxy statement before the deadline on February 26, 2025.
What should stockholders do if they have questions?
Stockholders can contact Stronghold's proxy solicitor, MacKenzie Partners, Inc., for assistance regarding their voting questions or concerns.
What are the benefits of the proposed merger?
The merger aims to create a stronger, more efficient company, combining resources and expertise, to better serve the evolving digital mining landscape.
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