• Stronghold Digital Mining Files for a $100 Million Initial Public Offering

  • Stronghold Digital Mining, a bitcoin miner powered by renewable energy, has filed for an initial public offering (IPO) with the Securities and Exchange Commission in the United States (SEC).

    Stronghold, based in Pennsylvania, filed an S-1 form with the Securities and Exchange Commission on Tuesday, proposing a $100 million initial public offering. The company plans to issue its Class A common stock under the symbol “SDIG” on the Nasdaq Global Market.

    Stronghold turns waste coal, a byproduct of coal mining, into electricity that is used to mine bitcoin. Waste coal is classified as an alternative energy source has a similar environmental impact as hydropower. Stronghold raised $105 million in a capital round in June, with MG Capital and Greg Beard, a former senior partner at Apollo Global Management, contributing. Beard is now the co-chairman and CEO of Stronghold.

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