{"id":51507,"date":"2021-10-20T16:30:51","date_gmt":"2021-10-20T13:30:51","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51507"},"modified":"2025-09-03T00:05:24","modified_gmt":"2025-09-02T21:05:24","slug":"stronghold-digital-mining-raises-ipo-target-to-127-million","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/stronghold-digital-mining-raises-ipo-target-to-127-million\/","title":{"rendered":"Stronghold Digital Mining raises IPO target to $127 million"},"content":{"rendered":"

American mining company Stronghold Digital Mining announced an increase in the size of its initial public offering (IPO) to $127 million.<\/p>\n

According to \u043f\u0440\u0435\u0441\u0441-\u0440\u0435\u043b\u0438\u0437\u0443<\/a>, the firm will offer 6,687,305 Class A shares at $19 per share. It is planned that the papers will begin trading on Nasdaq on October 20, 2021 under the ticker SDIG, with the company\\’s market capitalization expected to be about $346 million.<\/p>\n

\"Stronghold
Source: Nasdaq.<\/figcaption><\/figure>\n<\/div>\n

The underwriters are B. Riley Securities and Cowen, with Tudor, Pickering, Holt & Co as the lead underwriters, with participation from Compass Point and Northland Capital Markets.<\/p>\n

Stronghold also granted the underwriters a 30-day option to purchase 1,003,095 shares at the IPO price, net of discounts and commissions.<\/p>\n

The company expects net revenue to be around $114.8 million, or $132.5 million if the option is exercised.<\/p>\n

Earlier to raise between $94 million and $106 million<\/a> through the sale of 5.9 million shares.<\/p>\n

Stronghold uses the funds for general corporate purposes, including the acquisition of mining equipment and generating assets.<\/p>\n

In the \u0437\u0430\u044f\u0432\u043a\u0435<\/a> for the IPO, the company stated that it operates a fleet of 3,000 BTC miners with a combined hash rate of about 185 PH\/s. All equipment is deployed at Stronghold\\’s Scrubgrass Plant facility, which converts coal waste into energy.<\/p>\n

The firm expects delivery of 26,150 pre-ordered mining devices, and after the IPO it plans to buy another 55,800 miners. As a result, by December 2022, Stronghold expects to achieve a hash rate of 8,000 PH\/s.<\/p>\n

Earlier in June 2021, the company raised $105 million<\/a> through a private placement of securities.<\/p>\n

Follow ForkLog news on VK<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

American mining company Stronghold Digital Mining announced an increase in the size of its initial public offering (IPO) to $127 million.<\/p>\n","protected":false},"author":1,"featured_media":51508,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1211,1659,26],"class_list":["post-51507","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-stock-market","tag-stronghold-digital-mining","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=51507"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51507\/revisions"}],"predecessor-version":[{"id":51509,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/51507\/revisions\/51509"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/51508"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=51507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=51507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=51507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}