Bitfarms Announces Acquisition of Stronghold for $125M via Stock Deal
Stronghold’s stock has plummeted by almost 60% this year, Riot decreased by 48%, and Bitfarms plunged by 19%.
Crypto Miners Now Taking Advantage of Increase in Coal Energy Usage
Despite these obvious negative contributions, some mining companies, though using coal to power their crypto mining operations, are helping the environment in a mutually beneficial setting.
Stronghold (SDIG) Shares Soared 52% in Record IPO Debut for Mining Firm
Stronghold Mining typically generates its energy from coal waste which is notably spread at various sites in Pennsylvania. There are about 840 piles of waste coal in the state resulting from centuries of coal mining activities.
Stronghold Digital Mining Firm to Raise $100M in Targeted IPO
Stronghold Digital Mining noted that it is planning to list its stocks on the Nasdaq following the IPO and offer them under the ticker ‘SDIG’.