WhiteHawk Capital Partners Provides $40MM Capital Lease to Stronghold Digital Mining

WhiteHawk Capital Partners, a private credit investment manager focused on asset-based financing solutions, entered into an agreement with Stronghold Digital Mining, a digital asset miner based in Pennsylvania, to provide a $40 million capital lease.

Stronghold will use proceeds from the lease to fund purchases of additional digital mining units from suppliers and to scale plant and datacenter infrastructure. The funding also will allow Stronghold to continue its coal refuse cleanup operations in Pennsylvania. Coal refuse is classified under Pennsylvania law as a Tier II alternative energy source (equivalent to a large-scale hydropower plant). Stronghold is cleaning up coal refuse, which is damaging to local ecosystems, and using the energy generated to mine digital assets. Operating in partnership with the Pennsylvania Department of Environmental Protection and local environmental authorities, Stronghold has already reclaimed 1,000 acres of once-unusable land.

“This financing supports the rapid expansion of our vertically integrated model, allowing us to mine Bitcoin at some of the lowest costs in the industry while making a meaningful contribution to the environment. We welcome the support from our financial partners, such as WhiteHawk, without whom this exceptional progress would not be possible,” Greg Beard, CEO and co-chairman of Stronghold Digital Mining, said.

“WhiteHawk provides financing solutions to companies of various sizes, situations and industries. WhiteHawk has closed deals across traditional and non-traditional asset classes and this loan is a testament to our commitment to provide differentiated solutions to companies focused on growth and expansion,” Bob Louzan, managing partner of WhiteHawk Capital Partners, said.