SDIG

Stronghold Provides March 2024 Bitcoin Mining and Operational Update

Retrieved on: 
Tuesday, April 9, 2024
Electricity, SDIG, Growth, Mining, Cryptocurrency

NEW YORK, April 09, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”) today provided the following updates regarding its operations and financial performance:

Key Points: 
  • NEW YORK, April 09, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”) today provided the following updates regarding its operations and financial performance:
    Stronghold mined 179 Bitcoin in March 2024 and generated approximately $0.1 million in energy revenue, which represents the equivalent of approximately one additional Bitcoin based on the average price of Bitcoin during the month.
  • This equates to approximately 180 of Bitcoin-equivalent production in March 2024, up approximately 4% from 173 Bitcoin-equivalent production in February 2024.
  • The Company generated an estimated $11.1 million of revenue during March, an increase of 37% and 94% compared to February 2024 and March 2023, respectively.
  • The Scrubgrass Plant is expected to remain off until it becomes economically compelling to run it relative to purchasing electricity.

Stronghold Announces Fourth Quarter 2023 Operating and Financial Results

Retrieved on: 
Wednesday, March 6, 2024
Carbon, Fortification, Mining, ATM, Earnings call, Growth, Sale, Adjustment, Accreditation, Tax, Public expenditure, Electricity, Economics, Puro, SDIG, Miner, Partnership, Cryptocurrency

Revenues comprised $15.1 million from cryptocurrency self-mining, $5.4 million from cryptocurrency hosting, and $1.1 million from the sale of energy.1

Key Points: 
  • Revenues comprised $15.1 million from cryptocurrency self-mining, $5.4 million from cryptocurrency hosting, and $1.1 million from the sale of energy.1
    Stronghold generated 599 Bitcoin during the fourth quarter of 2023, which was down 3% versus the third quarter of 2023 and represented 34% growth compared to the fourth quarter of 2022, respectively.
  • Bitcoin price averaged $36,247 during the fourth quarter of 2023, up 101% compared to the average of $18,073 during the fourth quarter of 2022.
  • Transaction fees averaged 14.6% of block subsidies during the fourth quarter of 2023, up 620% or 1,255 basis points compared to 2.0% of block subsidies during the fourth quarter of 2022.
  • To access the call by phone, please use the following link Stronghold Digital Mining Fourth Quarter 2023 Earnings Call .

Stronghold Digital Mining Sets Fourth Quarter and Full Year 2023 Earnings Conference Call for Wednesday, March 6 at 11:00 a.m. Eastern Time

Retrieved on: 
Wednesday, February 28, 2024
Earnings call, Fortification, SDIG

A press release detailing these results will be issued before the market opens on the same day.

Key Points: 
  • A press release detailing these results will be issued before the market opens on the same day.
  • A live webcast of the call will be available on the Investor Relations page of the Company’s website at ir.strongholddigitalmining.com .
  • To access the call by phone, please use the following link Stronghold Digital Mining Fourth Quarter and Full Year 2023 Earnings Call .
  • After registering, an email will be sent, including dial-in details and a unique conference call access code required to join the live call.

Stronghold Announces January Bitcoin Mining and Carbon Capture Update

Retrieved on: 
Thursday, February 8, 2024
SDIG, Growth, Fortification, Carbon, Cryptocurrency

NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”) today provided the following updates regarding its operations and financial performance:

Key Points: 
  • NEW YORK, Feb. 08, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”) today provided the following updates regarding its operations and financial performance:
    Stronghold mined 192 Bitcoin in January 2024 and generated approximately $0.4 million in energy revenue, which represents the equivalent of approximately 10 additional Bitcoin based on the average price of Bitcoin during the month.
  • This equates to approximately 202 of Bitcoin-equivalent production in January 2024, down approximately 6% from December 2023.
  • Stronghold continues to be encouraged by test results from its first Karbolith.
  • The results demonstrated carbonation of up to 14% of starting weight of dry ash, with carbonation of approximately 10% on average.

Canaan Secures Follow-On Purchase Orders from Cipher and Stronghold

Retrieved on: 
Wednesday, January 3, 2024
Bitcoin, SDIG, Partnership, Acquisition, Cipher, Miner, Cryptocurrency

The orders, which combined involve the purchase of over 17,000 Bitcoin mining machines, build upon Canaan's existing relationships with Cipher and Stronghold.

Key Points: 
  • The orders, which combined involve the purchase of over 17,000 Bitcoin mining machines, build upon Canaan's existing relationships with Cipher and Stronghold.
  • On December 26, 2023, Stronghold, a vertically integrated Bitcoin mining company, entered into an agreement whereby Stronghold has purchased from Canaan 1,100 A1346 model mining machines with an average hash rate of 123T/s.
  • Additionally, Stronghold has an option to purchase an additional 2,500 A1466 model mining machines with an average hash rate of 140T/s-150T/s.
  • Tyler Page, CEO of Cipher Mining Inc., commented, "We are excited to once again partner with Canaan for our 60 MW expansion at our Bear and Chief facilities.

Stronghold Announces Addition of up to ~1 EH/s Through Bitcoin Miner Purchases and an Option to Purchase Bitcoin Miners

Retrieved on: 
Tuesday, January 2, 2024
SDIG, BTC, Miner, Cryptocurrency

NEW YORK, Jan. 02, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”) today announced that it executed agreements to purchase an aggregate of 5,000 Bitcoin miners on December 26, 2023, for approximately $8.5 million. These miners are expected to provide Stronghold with approximately 600 PH/s of cumulative hash rate capacity with average efficiency of 25 J/T.

Key Points: 
  • These miners are expected to provide Stronghold with approximately 600 PH/s of cumulative hash rate capacity with average efficiency of 25 J/T.
  • Stronghold funded the purchases with proceeds from the Company’s recently announced private placement, and the delivery of all purchased miners is expected no later than January 2024.
  • In addition to the purchase of the Avalon A1346 miners from Canaan, Stronghold was granted the option to purchase 2,500 Avalon A1466 miners (expected specifications of 140-150 TH/s per miner and 21.5 J/T efficiency) any time between now and December 2024 for $12 per TH/s.
  • The Company generated an estimated $8.5 million of revenue during the month of December, its highest monthly revenue in 2023.

Stronghold Enters Into $15 Million Private Placement

Retrieved on: 
Friday, December 22, 2023
SDIG, Private, Private placement, Electricity, Common stock, PJM, Growth

The non-brokered Private Placement was executed on December 21, 2023, and is expected to close on December 22, 2023.

Key Points: 
  • The non-brokered Private Placement was executed on December 21, 2023, and is expected to close on December 22, 2023.
  • Gross proceeds from the Private Placement will be $15.4 million, before deducting offering expenses.
  • As a result, the Company operated the plant at a lower output while the plant worked to remedy the issue.
  • In total, the Company estimates that it incurred fuel costs and operations and maintenance expenses of approximately $1.5 million beyond the scope of normal and expected operations.

Stronghold Announces November 2023 Bitcoin Mining Update

Retrieved on: 
Thursday, December 7, 2023
Carbon, SDIG, Fortification, Nasdaq MarketSite, Webcast, Cryptocurrency

NEW YORK, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, or the “Company”) today provided the following updates regarding its operations and financial performance:

Key Points: 
  • NEW YORK, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, or the “Company”) today provided the following updates regarding its operations and financial performance:
    Stronghold mined 193 Bitcoin in November 2023 and generated approximately $0.7 million in energy revenue, which represented the equivalent of approximately 19 additional Bitcoin based on the average price of Bitcoin, during the month.
  • This equated to approximately 212 of Bitcoin-equivalent production in November of 2023, up approximately 4% sequentially compared to the approximately 203 Bitcoin-equivalent production in October 2023 comprising 198 coins and $0.1 million of energy revenue, or 5 additional Bitcoin based on the average price of Bitcoin during the month.
  • The Company generated an estimated $7.2 million of revenue during the month of November, marking its highest monthly revenue in 2023.
  • On December 12th, Stronghold will host a Business Strategy Overview and Carbon Capture Panel event at the Nasdaq Marketsite.

Stronghold to Host Analyst and Investor Day on December 12, 2023

Retrieved on: 
Monday, November 20, 2023
Bitcoin, SDIG, Senior, Webcast, Nasdaq MarketSite, Cryptocurrency

NEW YORK, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”), an environmentally beneficial and vertically integrated mining-waste-to-power and Bitcoin mining company, today announced it will host the Company’s first-ever Analyst and Investor Day on Tuesday, December 12, 2023 in New York, NY at Nasdaq MarketSite.

Key Points: 
  • NEW YORK, Nov. 20, 2023 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”), an environmentally beneficial and vertically integrated mining-waste-to-power and Bitcoin mining company, today announced it will host the Company’s first-ever Analyst and Investor Day on Tuesday, December 12, 2023 in New York, NY at Nasdaq MarketSite.
  • Analysts and institutional investors interested in attending should contact Stronghold’s investor relations team [email protected] for additional details and instructions.
  • Presentations are expected to begin at 12:30 pm ET, and the event is expected to conclude at 4:00 pm ET.
  • Investors and other interested stakeholders may register Stronghold Digital Mining’s 2023 Analyst and Investor Day webcast here and on Stronghold’s Investor Relations website at ir.strongholddigitalmining.com .

Stronghold Announces Third Quarter 2023 Operating and Financial Results and Launches Carbon Capture Initiative

Retrieved on: 
Tuesday, November 14, 2023
Carbon, Sale, Coal, Puro, Internal Revenue Service, Mass spectrometry, CO2, Global warming potential, Managed services, PJM, Earnings call, Sulfur dioxide, Movement, Calcium carbonate, Inflation, Methane, DAC, Adjustment, SDIG, Pollutant, ATM, Environment, Growth, Miner, Electricity, CFB, GHG, Patent, Cryptocurrency, Fortification, Bitcoin

Stronghold and third-party engineering, design, and construction partners have developed direct air capture (“DAC”) technology to utilize the beneficial use ash to capture CO2.

Key Points: 
  • Stronghold and third-party engineering, design, and construction partners have developed direct air capture (“DAC”) technology to utilize the beneficial use ash to capture CO2.
  • Network hash rate grew ~9% sequentially from the second quarter of 2023 to the third quarter 2023.
  • On December 12, 2023, Stronghold will host an analyst and investor day in New York, NY to discuss the carbon capture initiative and other items.
  • To access the call by phone, please use the following link Stronghold Digital Mining Third Quarter 2023 Earnings Call .