Stronghold Digital Mining Announces $10 Million Private Placement to Fund Purchase of Bitcoin Miners
Stronghold Digital Mining has entered into securities purchase agreements with an institutional investor and the company's CEO, Greg Beard, to sell 9,000,000 shares of Class A Common Stock and share equivalents to the institutional investor and 1,000,000 shares of Class A Common Stock to Mr. Beard, at a price of $1.00 per share equivalent.
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The Times found that in Texas, the heightened demand from mining led to a nearly 5% increase in electric bills, amounting to an additional $1.8 billion per year.
