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​Stronghold Digital Mining will hold an IPO on Nasdaq

15.10.2021 - 09:00 Michael Golikov Michael Golikov

In total, it plans to attract financing in the amount of $106 million.

What's new? A large mining company Stronghold Digital Mining (SDM) has applied to the U.S. Securities and Exchange Commission (SEC). SDM plans to raise up to $106 million as part of the IPO procedure on the Nasdaq exchange. If approved, the shares will appear under the SDIG ticker.

Application on the SEC website

What is known about the company? Stronghold Digital Mining is engaged in mining cryptocurrencies using renewable energy. The company receives the main volumes by converting coal waste into electricity. SDM is based in Pennsylvania.

What will the funds be used for? Stronghold Digital Mining expects to purchase new mining devices and increase the hashrate from 185 PH/s to 2100 PH/s by the end of this year and to 8000 PH/s by the end of 2022.