Pennsylvania-based Bitcoin mining house Stronghold Digital Mining has filed for a $100-million initial public offering with the United States Securities and Substitution Commission.

The firm filed its S-1 course on Tuesday, and if given the green calorie-free past the SEC, Stronghold intends to listing its Course A mutual stock on the Nasdaq Global Marketplace under the "SDIG" ticker.

Stronghold is a sustainably focused and vertically integrated Bitcoin mining company that was founded in 2022. In June, Cointelegraph reported that the firm completed 2 private disinterestedness securities raises worth $105 million.

According to the new filing, Stronghold volition use the funds for general corporate purposes, such as "acquisitions of miners and power generating assets," with the firm outlining plans to significantly increment its total hash rate capacity:

"With part of the gain of this offering, we intend to procure an additional 27,900 miners, which we anticipate volition bring our total hash rate capacity to approximately three,000 PH/s by December 2022 and to over 5,300 PH/south past December 2022."

The house stated that it currently operates around 1,800 crypto mining machines with an estimated hash rate capacity of 85 petahashes per second (PH/s) and already has more machines on the way.

Stronghold has entered into "iii definitive agreements with multiple suppliers" to purchase more than 27,000 mining machines, which the business firm estimates will take a minimum total hash rate capacity of ii,600 PH/due south. It expects to acquire 93% of the machines in 2022 and the remaining 7% to be delivered in 2022.

The firm operates what it describes as "low-toll, environmentally beneficial power generation facilities" and mines Bitcoin (BTC) by converting waste coal into free energy on a scale equivalent to "a large-scale" hydropower plant, and information technology estimates that for every Bitcoin it mines, 200 tonnes of waste coal is destroyed.

Related: A green revolution in crypto mining? Industry answers wake-up phone call

The Scrubgrass Generation Institute in Venango County is the house's showtime ability generation facility, and the firm's power generation processes permit it to rehabilitate large areas of land that were devastated as a result of waste coal acid drainage.

Stronghold also stated in the filing that it intends to firm the new mining machines at its electric current facility, as well as at two new plants that information technology is working to acquire.

The first is the "Panther Creek Energy Facility" — a coal turn down power generation facility nether contract to purchase — and the second is an unnamed facility that uses the same coal recycling methods, which Stronghold has nether a letter of intent to purchase.