STRONGHOLD ALERT: Bragar Eagel & Squire, P.C. is Investigating Stronghold Digital Mining, Inc. on Behalf of Stronghold Stockholders and Encourages Investors to Contact the Firm

NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Stronghold Digital Mining, Inc. (“Stronghold” or the “Company”) (NASDAQ: SDIG) on behalf of Stronghold stockholders. Our investigation concerns whether Stronghold has violated the federal securities laws and/or engaged in other unlawful business practices.

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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, the price of Stronghold shares declined by $3.28 per share, or approximately 32%, from $10.25 per share to close at $6.97 per share on March 30, 2022.

If you purchased or otherwise acquired Stronghold shares and suffered a loss, are a long-term stockholder, have information, 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 Brandon Walker or Alexandra Raymond by email at [e-mail], telephone at [phone], or by filling out this contact form. There is no cost or obligation to you.