Stronghold Digital Mining, a Bitcoin mining company powered by wholly-owned coal refuse power plants, raised $127 million by offering 6.7 million shares at $19, above the range of $16 to $18. The company had originally planned to sell 5.9 million shares.
Stronghold is a vertically integrated Bitcoin miner powering its operations with coal refuse power facilities in Pennsylvania. US-based crypto companies have recently benefited from rising Bitcoin prices, which reached an all-time high this month.
Stronghold Digital Mining plans to list on the Nasdaq under the symbol SDIG. B. Riley Securities and Cowen acted as joint bookrunners on the deal.
