Stronghold Bitcoin Miner Raises $105M

According to a press release sent to Bitcoin Magazine, Stronghold Digital Mining, an ESG-friendly and vertically-integrated bitcoin mining company based in Pennsylvania, has raised $105 million in two private placements of equity securities.

The firm is focused on converting coal waste directly into value through bitcoin mining.

“Coal waste fires have been wreaking havoc in my home state of Pennsylvania for the last hundred years,” said Bill Spence, co-chairman of Stronghold, per the release. “Not only are these coal fires a major source of greenhouse gases, but the acid runoff and ash from these uncontrolled burning piles pose serious threats to the health, environment and water quality of the surrounding communities.”

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