Bitcoin Mining Firm Stronghold Digital Mining's Shares Rally on Debut

Time:2022-01-06 Source: 931 views Trending Copy share

By Sam Boughedda

Investing.com — Bitcoin Mining firm Stronghold Digital Mining Inc (NASDAQ:SDIG) has seen its shares rally on their trading debut, climbing to a high of $31.88.

The company, which describes itself as an "environmentally beneficial and vertically integrated Bitcoin miner," priced its Initial public offering at $19 per share.

Stronghold's power generation facilities convert coal refuse into power which is then used to mine Bitcoin. It currently has 2 plants — the Scrubgrass and Panther Creek Plants.

The Scrubgrass Plant, located in Venango County, Pennsylvania, has a generation capacity of 85MW, while Panther Creek, located in Carbon County, Pennsylvania, has a capacity of 80MW.

Stronghold's debut has arrived a couple of days after the first Bitcoin futures ETF (NYSE:BITO) began trading. The fund's shares are currently up 3%. Meanwhile, Bitcoin hit an all-time high of over $67,000 earlier in Wednesday's session.

Disclaimer : The above empty space does not represent the position of this platform. If the content of the article is not logical or has irregularities, please submit feedback and we will delete or correct it, thank you!

Top News