Concerns about inflation in the US, digitalization and the initial trading of a futures Bitcoin ETF have also brought an increase in the stocks of companies engaged in mining and crypto-related businesses.
Shares of Stronghold Digital Mining, the US-based mining firm that went public for the first time in July and was listed on the Nasdaq yesterday, also closed the day with a 52% rise. While the price of the shares was traded in the range of $ 16-18, it is currently around $ 29. Aiming to receive an investment of 100 million dollars in the IPO, the company managed to collect 127 million dollars.
Mining with waste coal, which seems to be equivalent to hydropower
As it is known, Stronghold carries out its Bitcoin mining operations with waste coal. The firm operates 3,000 Bitcoin mining machines at a rate of 185 petahash per second. In addition to these machines, the company also placed an order for 27,300 mining devices in the summer. It was stated that most of the devices will be delivered by the end of the year at the latest. Waste coal, unlike normal coal, is seen as the same as the impact of the hydroelectric power plant on the environment. In a previous statement, the company stated that they plan to mine other cryptocurrencies besides Bitcoin.
Bitcoin, which exceeded $ 67 thousand yesterday, is trading at $ 66 thousand 400 at the time the news was written.
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