Stronghold Digital Mining is a vertically integrated Bitcoin miner that owns and operates two waste coal power plants in Pennsylvania — the Scrubgrass Plant (~83.5 MW) and the Panther Creek Plant (~80 MW) — totaling 165 MW of generating capacity. These plants combust coal refuse left over from historical mining operations using circulating fluidized bed technology, and sell electricity into the PJM wholesale power market while also powering Stronghold's own Bitcoin mining data centers. Stronghold runs over 40,000 miners at approximately 4.1 EH/s of hash rate, co-located at data centers adjacent to its plants. The core differentiation of Stronghold's model is its ability to toggle in near real-time between mining Bitcoin and selling power to the grid — curtailing miners within seconds when power prices exceed Bitcoin mining economics, or importing cheap grid power when grid prices fall below the variable cost to generate in-house. Stronghold also earns Tier II RECs under Pennsylvania law, which reduce its net power costs. Beyond power and mining, Stronghold is pursuing a carbon capture initiative using calcium-rich ash byproduct from its combustion process, which chemically bonds with ambient CO2. Partnering with Karbonetiq, Stronghold is evaluating carbon credit sales and potential IRS Section 45Q tax credits, which management estimates could reduce its effective net power cost to as low as ~$16-25/MWh at full utilization — though commercial monetization timelines remain uncertain.