About Stronghold Digital Mining
Stronghold Digital Mining is a company based in Pittsburgh (United States) founded in 2021 was acquired by Bitfarms in August 2024.. Stronghold Digital Mining has raised $105 million across 5 funding rounds from investors including Bitfarms and MG Capital Group. The company has 115 employees as of December 31, 2023. Stronghold Digital Mining operates in a competitive market with competitors including Argo Blockchain, Arkon Energy, Mawson Infrastructure Group, TeraWulf and Gridless, among others.
- Headquarter Pittsburgh, United States
- Employees 115 as on 31 Dec, 2023
- Stage Public
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Sectors
TechnologyFinancial Services
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Email
***********
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Phone
*********
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Website
*********
- Legal Name Stronghold Digital Mining, Inc.
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Annual Revenue
$74.97 M-32as on Dec 31, 2023
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Net Profit
$-50.9 M43as on Dec 31, 2023
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EBITDA
$-27.02 M73as on Dec 31, 2023
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Total Equity Funding
$105 M (USD)
in 5 rounds
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Latest Funding Round
$15.43 M (USD), Post-IPO
Dec 21, 2023
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Investors
Bitfarms
& 1 more
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Employee Count
115
as on Dec 31, 2023
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Acquired by
Bitfarms
(Aug 21, 2024)
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Funding Insights of Stronghold Digital Mining
Stronghold Digital Mining has successfully raised a total of $105M across 5 strategic funding rounds. The most recent funding activity was a Post-IPO round of $15.43 million completed in December 2023. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 5
- Last Round Post-IPO — $15.4M
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First Round
First Round
(28 May 2021)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2023 | Amount | Post-IPO - Stronghold Digital Mining | Valuation |
investors |
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| Apr, 2023 | Amount | Post-IPO - Stronghold Digital Mining | Valuation |
investors |
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| Sep, 2022 | Amount | Post-IPO - Stronghold Digital Mining | Valuation |
investors |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Stronghold Digital Mining
Stronghold Digital Mining has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Bitfarms and MG Capital Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Financial consulting firm providing loans, investments, and credit facilitation services.
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Founded Year | Domain | Location | |
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Cryptocurrency cloud mining solutions are provided via blockchain infrastructure.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Stronghold Digital Mining
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Stronghold Digital Mining
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
|
| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Stronghold Digital Mining Comparisons
Competitors of Stronghold Digital Mining
Stronghold Digital Mining operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Argo Blockchain, Arkon Energy, Mawson Infrastructure Group, TeraWulf and Gridless, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Sustainable Bitcoin mining and blockchain development solutions are provided.
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| domain | founded_year | HQ Location |
Sustainable Bitcoin mining is powered by excess renewable energy.
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| domain | founded_year | HQ Location |
Digital asset mining infrastructure and hosting services are offered.
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| domain | founded_year | HQ Location |
Sustainable cryptocurrency mining is facilitated via an online platform.
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| domain | founded_year | HQ Location |
Sustainable Bitcoin mining solutions are provided by the Gridless platform.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Stronghold Digital Mining
Frequently Asked Questions about Stronghold Digital Mining
When was Stronghold Digital Mining founded?
Stronghold Digital Mining was founded in 2021.
Where is Stronghold Digital Mining located?
Stronghold Digital Mining is headquartered in Pittsburgh, United States. It is registered at Pittsburgh, Pennsylvania, United States.
Who is the current CEO of Stronghold Digital Mining?
Gregory A Beard is the current CEO of Stronghold Digital Mining.
Is Stronghold Digital Mining a funded company?
Stronghold Digital Mining is a funded company, having raised a total of $105M across 5 funding rounds to date.
How many employees does Stronghold Digital Mining have?
As of Dec 31, 2023, the latest employee count at Stronghold Digital Mining is 115.
What is the annual revenue of Stronghold Digital Mining?
Annual revenue of Stronghold Digital Mining is $74.97M as on Dec 31, 2023.
What does Stronghold Digital Mining do?
Stronghold Digital Mining was founded in 2021 and is headquartered in Pittsburgh, United States. Operations focus on the cryptocurrency sector, where power-generation facilities convert coal refuse into electricity for Bitcoin mining. Renewable energy sources are utilized to support these activities. Environmentally beneficial power generation facilities are also maintained to provide additional energy solutions.
Who are the top competitors of Stronghold Digital Mining?
Stronghold Digital Mining's top competitors include Argo Blockchain, TeraWulf and Mawson Infrastructure Group.
Who are Stronghold Digital Mining's investors?
Stronghold Digital Mining has 2 investors. Key investors include Bitfarms, and MG Capital Group.
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