Stronghold Digital Mining Files for $100M IPO

The firm intends to list its Class A common stock on the Nasdaq Global Market under the ticker SDIG.

AccessTimeIconJul 27, 2021 at 2:38 p.m. UTC
Updated Sep 14, 2021 at 1:31 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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. Pennsylvania regulators classify waste coal as an alternative energy source on par with hydropower for its environmental impact.
  • In its S-1, Stronghold said it currently operates approximately 1,800 crypto asset mining computers with hash rate capacity of roughly 85 petahash per second (PH/s). Since April 1 the company has entered into three definitive agreements with multiple suppliers to purchase over 27,300 additional miners with a total hash capacity equal to over 2,600 PH/s. 
  • 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.

UPDATE (July 21, 15:03 UTC): Updated with details about Stronghold's business in the fourth bullet point.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by; both groups have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.