TechFlow news, on February 5, according to TheMinerMag, bitcoin mining company Stronghold Digital has been fined over $1.4 million for violating energy market rules. The Federal Energy Regulatory Commission (FERC) found that Stronghold and its subsidiary, Scrubgrass Reclamation Company, failed to fulfill contractual obligations to provide available power to the PJM grid between June 2021 and May 2022, instead diverting electricity for bitcoin mining operations. Under the settlement agreement, Stronghold must return $678,635 in improperly obtained capacity revenues to PJM and pay a civil penalty of $741,365 to the U.S. Treasury.
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