The Law Offices of Frank R. Cruz Announces Investigation of Stronghold Digital Mining, Inc. (SDIG) on Behalf of Investors

LOS ANGELES--(BUSINESS WIRE)--The Law Offices of Frank R. Cruz announces an investigation of Stronghold Digital Mining, Inc. (“Stronghold” or the “Company”) (NASDAQ: SDIG) on behalf of investors concerning the Company’s possible violations of federal securities laws.

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In October 2021, Stronghold conducted its initial public offering (“IPO”), selling 6.88 million shares of Class A common stock for $19.00 per share.

On March 29, 2022, after the market closed, Stronghold announced its fourth quarter and full year 2021 financial results. The Company reported a net loss of $0.52 for the quarter, below analyst estimates of $0.04 earnings per share, and Stronghold’s Chief Executive Officer cited “significant headwinds in our operations which have materially impacted recent financial performance.”

On this news, Stronghold’s stock declined as much as 35% during intraday trading on March 30, 2022, thereby injuring investors.

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If you purchased Stronghold securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Frank R. Cruz, of The Law Offices of Frank R. Cruz, 1999 Avenue of the Stars, Suite 1100, Los Angeles, California 90067 at 310-914-5007, by email to [e-mail], or visit our website at www.frankcruzlaw.com. If you inquire by email please include your mailing address, telephone number, and number of shares purchased.

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