Stronghold Digital Mining Files for $100M IPO

Stronghold Digital Mining, the alternative energy-powered bitcoin miner, has registered for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC).

• The Pennsylvania-based Stronghold filed its S-1 form Tuesday with the SEC proposing a $100 million IPO.
• The firm intends to list its Class A common stock on the Nasdaq Global Market under the ticker "SDIG".
• Stronghold converts waste coal, a material left over from coal mining, into power used to mine bitcoin. Waste coal is classed as an alternative energy source, on par with hydropower for its environmental impact.
• In June, Stronghold raised $105 million in a funding round with contributions from MG Capital and Greg Beard, a former senior partner at private equity firm Apollo Global Management. Beard is now listed as Stronghold's co-chairman and CEO.