Investment bank DA Davidson cut its price target on Bitcoin miner Stronghold Digital (SDIG) by 40% to $25 due to slower-than-expected progress in current operations and supply chain challenges across the industry, investment bank DA Davidson said in a report.
DA Davidson expects the miner to reach 6.4EH/s in 2022, down from previous estimates of 7.4EH/s and 14.4EH/s, and 12.6EH/s from 2023.
Shares in Stronghold Digital have fallen about 66% since trading began on Oct. 20, market data show.
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