Crypto Miner Stronghold Digital Soars in Trading Debut

Crypto Miner Stronghold Digital Soars in Trading Debut
Stronghold Digital, the bitcoin mining company that converts coal waste into power for its operations, surged in its first day of trading on Wednesday after raising $127 million in its IPO.The Pennsylvania-based miner’s IPO was upsized to $19 per share, after previously pricing its IPO at the range of $16 to $18 each. The shares opened up 42% at $27 on Nasdaq under the ticker “SDIG.” They were recently trading up 65% to $31.37.Stronghold converts “coal refuse,” a material left over from coal mining, into power used to mine bitcoin at its wholly owned Scrubgrass power plant in Pennsylvania. The…