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Stronghold Digital Upsizes IPO Price to $19 a Share

Stronghold Digital Upsizes IPO Price to $19 a Share

Stronghold Digital Upsizes IPO Price to $19 a Share

Shares are expected to commence trading on the Nasdaq Global Market today under the ticker symbol “SDIG.”

Shares are expected to commence trading on the Nasdaq Global Market today under the ticker symbol “SDIG.”

Shares are expected to commence trading on the Nasdaq Global Market today under the ticker symbol “SDIG.”

By Jamie Crawley
AccessTimeIconOct 20, 2021, 10:23 AM
Updated May 11, 2023, 5:46 PM
Stronghold's power plant in Northeastern Pennsylvania. (Stronghold)
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Pennsylvania-based bitcoin mining company Stronghold Digital has upsized its initial public offering (IPO) to $19 per share, with plans to raise $127 million.

  • Shares are expected to commence trading on the Nasdaq Global Market today on Wednesday under the ticker symbol “SDIG,” the company announced.
  • The company expects to receive around $114.8 million of the $127 million raised, which it will use to acquire new miners and power-generating assets.
  • The miner upsized its IPO price from the previously announced range of $16- $18 per share. It had planned to raise $94 million to $106 million as per its filing with the U.S. Securities and Exchange Commission on Oct. 13.
  • Stronghold, which coverts coal waste into mining power, operates 3,000 miners, with a hashrate capacity of about 185 petahash per second. It plans to bring its total hashrate capacity to more than 2,100 PH/s by December and to more than 8,000 PH/s by December 2022.

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Jamie Crawley

Jamie Crawley is a CoinDesk news reporter based in London.

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