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Bitcoin miner Stronghold will list almost 6M shares in its $100M IPO

U.S. Bitcoin mining company Stronghold Digital Mining will list almost six million shares in an initial public offering on the Nasdaq.

Stronghold plans to list 5,882,352 Class A common stock shares priced between $16 and $18 under the ticker “SDIG”. Taking the average proposed offering price puts the IPO at around $100 million.

The Kennerdell, Pennsylvania-based firm first filed with the Securities and Exchange Commission for a Nasdaq IPO in July. It will fund an almost 900% expansion in capacity in the coming year. The final prospectus has already been filed with the SEC, but it has yet to become effective.

Stronghold plans to become the first North American crypto mining company to go public through an actual IPO, according to Nasdaq. This is different from the now popular direct listing and Special Purpose Acquisition Companies (SPAC) avenues.

Stronghold intends to grant underwriters, or intermediaries that help the firm prepare for the offering, a 30-day option to purchase as many as 882,352 additional shares of its stock at the IPO price, in

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