Stronghold Digital Outperforms After DA Davidson Sees Shares Rising Over 50%

Stronghold Digital Outperforms After DA Davidson Sees Shares Rising Over 50%
Stronghold Digital (SDIG), the bitcoin mining company that converts coal waste into power for its operations, outperformed its mining peers on Monday, after the investment bank DA Davidson slapped a buy rating on the company and said that it sees potential for shares to rise more than 50% over the next 12 months.“With the cheapest valuation in our miner coverage, SDIG has the potential to outperform as it executes on its unique strategy,” DA Davidson analyst Christopher Brendler wrote.Brendler acknowledged that Stronghold’s strategy to own and operate its own power generation plant reduces return on invested capital but also said…