In a recent disclosure, the publicly-listed bitcoin mining corporation Stronghold Digital Mining publicized its entry into a $15 million securities purchase agreement with an institutional investor. Furthermore, Stronghold elaborated that the firm’s Panther Creek Plant encountered unforeseen complications with ash silo flow, prompting a temporary suspension of a portion of its operations. This interruption resulted in the company operating at 60% capacity from Nov. 20 to Dec. 7, 2023.
$15M Boost for Stronghold Amid Operational Setbacks
On Dec. 22, 2023, Stronghold Digital Mining (Nasdaq: SDIG) disclosed a $15 million equity raise. The bitcoin mining entity expressed intentions to channel these funds into expanding its mining rig fleet and propelling its carbon capture initiative forward.
Stronghold intends to allocate this new capital towards bolstering its general corporate endeavors, as indicated in the Friday announcement. Earlier in the year, the company formed a partnership with
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