Druces guides Sterling Digital's Aquis entry

Druces has advised Cairn Financial Advisers LLP and Oak Securities, a trading name of Merlin Partners LLP, on the admission of Sterling Digital PLC to the Access Segment of the Aquis Stock Exchange and a £4m placing. Sterling Digital was incorporated to initiate Bitcoin mining operations at low-cost stranded gas sites in the United States by locating modular, self-contained Bitcoin mining operations directly on stranded gas fields, thereby securing a reliable, low-cost and sustainable energy supply for Bitcoin generation.

The net proceeds from the placing will be utilised, among other things, to develop a 3MW Bitcoin mining facility in Texas, using flared natural gas from oil wells as the energy source, producing electricity at significantly lower costs than the industry average, along with the purchase and initial deployment of the latest-generation Bitcoin mining hardware.

Jo Turner, Partner at Cairn, shared, “As always, Jack and Mark struck the perfect balance of carefully managing the more complex issues whilst ensuring the transaction moved forward. It’s a pleasure to work with them.” Jack Dervyn, Partner and Head of Capital Markets at Druces LLP, commented, “Congratulations to all involved on the admission of Sterling Digital. This transaction required consideration of a blend of areas, spanning energy, crypto and corporate. We look forward to working again with the teams at Cairn and Oak.”

The Druces deal team was led by Jack Dervyn and supported by Mark Lamph, Senior Associate.

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