Stronghold Digital Mining, a crypto asset mining company focused on Bitcoin, filed on Tuesday with the SEC to raise up to $100 million.
Stronghold is a vertically integrated crypto asset mining company currently focused on mining Bitcoin. The company wholly-owns and operates a low-cost, environmentally-beneficial coal refuse power generation facility, stating that it is committed to generating its energy and managing its assets sustainably. It currently operates approximately 1,800 crypto asset mining computers (miners) with hash rate capacity of approximately 85 petahash per second (PH/s). Since April 1, 2021, the company has entered into three definitive agreements with multiple suppliers to purchase over 27,300 additional miners with a total hash capacity equal to over 2,600 PH/s.
The New York, NY-based company was founded in 2021 and booked $7 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol SDIG. B. Riley Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
