Stronghold Digital Mining, a US bitcoin mining company, will list about six million shares in Nasdaq’s initial public offering (IPO).
Stronghold plans to list a common stock in the 5,882,352 category at a price of থেকে 16 to 18 18 under the ticker “SDIG”. Taking the average price of the proposed offer, the IPO reaches around ১০ 100 million.
The Kenardale, Pennsylvania-based firm first filed for a Nasdaq IPO with the Securities and Exchange Commission in July. It will fund about 900% expansion of capacity next year. The final prospectus has already been made Filed With the SEC, but it has yet to take effect.
Stronghold plans to be the first North American crypto mining company to go public through an actual IPO Nasdaq. This differs from the popular direct listing and special purpose company (SPAC) way now.
Stronghold seeks to allow underwriters or intermediaries to help the firm prepare for a 30-day option offer to buy 882,352 additional shares of its stock at the IPO price, in addition to a 5.8 million offer to the public.
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Stronghold describes itself as an “emerging growth company” that currently operates about 3,000 crypto mines with a hash rate capability of about 185 petas per second (PH / s), according to the prospectus.
It said it had contracted three suppliers to supply an additional 26,150 mines with a hash rate capacity of more than 2,500 PH / s. 722% of their deliveries are scheduled for delivery this year, the rest will be delivered in 2022.
Stronghold wants to acquire more hardware with the proceeds of the IPO as an additional 55,800 mines are planned.
Related: US Minor raises 10 105 million to recycle waste coal into crypto
The firm owns and operates a “scrubgrass plant” in Pennsylvania, which has been recognized as an alternative energy source because it converts waste coal into energy. The prospectus states:
“We are committed to generating our energy and managing our resources sustainably, and we believe we are one of the first vertically integrated crypto resource mining companies to focus on environmentally beneficial activities.”
Update: Following the publication of this article, Michael Stiller, founder of Micro Strategy Tweeted An Approval:
Bitcoin is stronger every time a miner comes out in public.
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