Bitcoin Miner Stronghold Buys Second Power Plant That Could Double Power

Stronghold Digital Mining, a bitcoin miner working on coal waste, has acquired a second coal waste processing plant in Pennsylvania with an 80 MW capacity.
Bitcoin mining company Stronghold Digital Mining has reportedly purchased a second coal waste processing plant in Pennsylvania. The company also said it was “currently in talks” to buy a third property in the state.

The new power plant, Panther Creek, can produce up to 80 megawatts (MW). If the company achieves that potential, the new facility could double stronghold’s total assets to 165 MW. Neskehoning is a town in Neskehoning, Pennsylvania, United States.
“Where coal waste is buried continues to wreak havoc in Pennsylvania,” stronghold CEO Greg beard said. He said: “We are delighted with the political support from both sides in continuing to clear these large areas and return the land to the local community.& quot;

Stronghold is a vertically integrated bitcoin mining company that operates a wholly owned low-cost electric regeneration company in Pennsylvania. Its business model is focused on converting coal waste directly to cost through bitcoin mining.
When rain or snow encounters Gray-rich garbage of waste coal, the largest water pollutant in Pennsylvania-the carbonic acid mine (AMD) drainage-occurs. AMD then escapes and pollutes nearby streams and rivers, threatening aquatic life and fauna. By converting waste coal into energy for bitcoin mining, Stronghold sought to restore the availability of geographic areas that AMD had previously damaged.
In June, Stronghold raised US $ 105 million in two private equity securities distributions and is estimated to eliminate about 200 tons of coal waste for every bitcoin issued. On July 27, the bitcoin miner filed with the U.S. Securities and Exchange Commission (SEC) for a $ 100 million proposed initial public offering (IPO) on the Nasdaq exchange.

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