Stronghold Digital Mining Shares Up 17%, Co. Gives June Update

By Stephen Nakrosis

Shares of Stronghold Digital Mining were trading higher on the Nasdaq Wednesday, after the company provided a bitcoin mining update for the month of June.

At 3:27 p.m. ET, shares were trading 17.7% higher at $6. Volume at the time topped 941,000 shares, above the stock's 65-day average volume of 205,701 shares.

For the month of June, Stronghold Digital said, it was awarded about 225 bitcoin via its mining operations. Combined with production in April and May, the company mined over 626 bitcoin in the second quarter of this year, it said.

The total number of bitcoin awarded in the second quarter is about 43% higher than the total in the fourth quarter of last year, and 1% higher than the first quarter of 2023, Stronghold Digital said.

The company also said June saw it receive and energize 2,000 Avalon 1346 bitcoin mining rigs associated with the previously announced Canaan Bitcoin Mining Agreement.

Write to Stephen Nakrosis at stephen.nakrosis@wsj.com

(END) Dow Jones Newswires

July 05, 2023 15:53 ET (19:53 GMT)

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