Stronghold digital mining announces $9 million private placement; additional details on improved efficiency and cost reduction program

New york, sept. 13, 2022 (globe newswire) -- stronghold digital mining, inc. (nasdaq: sdig) (“stronghold”, or the “company”) has entered into a securities purchase agreement with each of an institutional investor and the company's co-chairman and chief executive officer, greg beard, to purchase 5,000,000 and 602,609   shares of class a common stock at a purchase price of $1.60 and $1.66, respectively, and warrants to purchase an aggregate 5,602,409 shares of class a common stock. the warrants will have an initial exercise price of $1.75 per share (subject to adjustments) and will expire five years from the date of issuance.
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