Stronghold Digital Mining, a Bitcoin mining company based in the United States, is reportedly going to list around six million shares in an IPO on the NASDAQ. The firm is planning to list 5,882,352 Class A common stock shares priced between the mark of $16 and $18 under the ticker symbol SDIG.
The Kennerdell, a firm based in Pennsylvania, first filed with the Securities and Exchange Commission for a NASDAQ IPO in the month of July. As revealed, the company will fund an almost 900% expansion in capacity in the coming year.
Though the final prospectus has already been filed with the Securities and Exchange Commission, it is yet to become effective.
In accordance with the data released by NASDAQ, the company has plans to become the first North American crypto mining firm to go public through an IPO.
Moreover, Stronghold has intentions to grant intermediaries that are helping the company, in preparing for the offering with a 30-day option to buy as many as 882,352 extra shares of its stock at the IPO price along with the 5.8 million offering to the public.
In addition to this, the company has intentions to acquire even more hardware with the proceeds of the IPO as an additional 55,800 miners have been planned.
In the prospectus, the firm stated:
“We are committed to generating our energy and managing our assets sustainably, and we believe that we are one of the first vertically integrated crypto asset mining companies with a focus on environmentally beneficial operations.”
Along with this, it should be noted that the Founder of MicroStrategy, Michael Saylor, shared a tweet as an endorsement that said:
“Bitcoin grows stronger each time a miner goes public.”