Stronghold Digital Mining Announces CFO Transition
Stronghold Digital Mining announced that CFO Matthew Smith will resign from his position and the Board of Directors, effective November 15, 2024, following the filing of the Company's Q3 2024 10-Q report. The resignation is not related to any disagreements regarding company operations, policies, practices, or accounting principles. Smith will be retained as a consultant to assist with the transition. The company does not plan to fill his Board position and expressed gratitude for his three years of service.
Stronghold Digital Mining ha annunciato che il CFO Matthew Smith si dimetterà dalla sua posizione e dal Consiglio di Amministrazione, con effetto dal 15 novembre 2024, dopo la presentazione del rapporto 10-Q del terzo trimestre 2024 dell'azienda. Le dimissioni non sono legate a disaccordi riguardanti le operazioni, le politiche, le pratiche o i principi contabili dell'azienda. Smith sarà mantenuto come consulente per assistere nella transizione. L'azienda non prevede di sostituire il suo posto nel Consiglio e ha espresso gratitudine per i suoi tre anni di servizio.
Stronghold Digital Mining anunció que el CFO Matthew Smith renunciará a su cargo y a la Junta Directiva, con efecto el 15 de noviembre de 2024, tras la presentación del informe 10-Q del tercer trimestre de 2024 de la empresa. La renuncia no está relacionada con desacuerdos sobre las operaciones, políticas, prácticas o principios contables de la empresa. Smith será mantenido como consultor para ayudar con la transición. La empresa no planea llenar su puesto en la Junta y expresó su gratitud por sus tres años de servicio.
Stronghold Digital Mining은 CFO 매튜 스미스가 2024년 11월 15일부로 자신의 직위와 이사회를 사임할 것이라고 발표했습니다. 이는 회사의 2024년 3분기 10-Q 보고서 제출에 따른 것입니다. 사임은 회사의 운영, 정책, 관행 또는 회계 원칙에 대한 어떠한 불일치와도 관련이 없습니다. 스미스는 전환을 돕기 위해 컨설턴트로 retained될 것입니다. 회사는 그의 이사회 직위를 대체할 계획이 없으며, 그의 3년간의 서비스에 대해 감사의 뜻을 표했습니다.
Stronghold Digital Mining a annoncé que le CFO Matthew Smith démissionnera de son poste et du Conseil d'Administration, à compter du 15 novembre 2024, suite au dépôt du rapport 10-Q du troisième trimestre 2024 de l'entreprise. La démission n'est pas liée à des désaccords concernant les opérations, les politiques, les pratiques ou les principes comptables de l'entreprise. Smith sera retained en tant que consultant pour aider à la transition. L'entreprise ne prévoit pas de pourvoir son poste au Conseil et a exprimé sa gratitude pour ses trois années de service.
Stronghold Digital Mining gab bekannt, dass der CFO Matthew Smith mit Wirkung zum 15. November 2024 von seiner Position und dem Vorstand zurücktreten wird, nachdem der 10-Q-Bericht des Unternehmens für das dritte Quartal 2024 eingereicht wurde. Der Rücktritt steht nicht im Zusammenhang mit Uneinigkeiten hinsichtlich der Unternehmensoperationen, -richtlinien, -praktiken oder Rechnungslegungsgrundsätze. Smith wird als Berater retained, um bei dem Übergang zu helfen. Das Unternehmen plant nicht, seine Position im Vorstand neu zu besetzen, und sprach Dank für seine drei Jahre Dienstzeit aus.
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NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (the “Company”) today announced that Chief Financial Officer Matthew Smith will resign from his position, effective November 15, 2024, after the Company files its Quarterly Report on Form 10-Q for the third quarter of 2024. Mr. Smith will also step down from the Company’s Board of Directors at that time. Mr. Smith’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including accounting principles and practices.
Following his departure, the Company intends to retain Mr. Smith as a consultant to assist with the transition of his responsibilities for a period of time. Currently, the Company does not intend to fill the vacancy on the Board that will be created following the effective date of Mr. Smith’s resignation. The Company thanks Mr. Smith for his contributions over the past three years.
About Stronghold Digital Mining, Inc.
Stronghold is a vertically integrated Bitcoin mining company with an emphasis on environmentally beneficial operations. Stronghold houses its miners at its wholly owned and operated Scrubgrass Plant and Panther Creek Plant, both of which are low-cost, environmentally beneficial coal refuse power generation facilities in Pennsylvania.
Forward Looking Statements of Stronghold:
Certain statements contained in this press release, including guidance, constitute “forward-looking statements.” within the meaning of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements because they contain words such as “believes,” “expects,” “may,” “will,” “should,” “seeks,” “approximately,” “intends,” “plans,” “estimates” or “anticipates” or the negative of these words and phrases or similar words or phrases which are predictions of or indicate future events or trends and which do not relate solely to historical matters. Forward-looking statements and the business prospects of Stronghold are subject to a number of risks and uncertainties that may cause Stronghold’s actual results in future periods to differ materially from the forward-looking statements, including with respect to its potential carbon capture initiative and with respect to completing a strategic review process or entering into a transaction. These risks and uncertainties include, among other things: the hybrid nature of our business model, which is highly dependent on the price of Bitcoin; our dependence on the level of demand and financial performance of the crypto asset industry; our ability to manage growth, business, financial results and results of operations; uncertainty regarding our evolving business model; our ability to retain management and key personnel and the integration of new management; our ability to raise capital to fund business growth; our ability to maintain sufficient liquidity to fund operations, growth and acquisitions; our substantial indebtedness and its effect on our results of operations and our financial condition; uncertainty regarding the outcomes of any investigations or proceedings; our ability to enter into purchase agreements, acquisitions and financing transactions; public health crises, epidemics, and pandemics such as the coronavirus pandemic; our ability to procure crypto asset mining equipment from foreign-based suppliers; our ability to maintain our relationships with our third-party brokers and our dependence on their performance; our ability to procure crypto asset mining equipment including to upgrade our current fleet; developments and changes in laws and regulations, including increased regulation of the crypto asset industry through legislative action and revised rules and standards applied by The Financial Crimes Enforcement Network under the authority of the U.S. Bank Secrecy Act and the Investment Company Act; the future acceptance and/or widespread use of, and demand for, Bitcoin and other crypto assets; our ability to respond to price fluctuations and rapidly changing technology; our ability to operate our coal refuse power generation facilities as planned; our ability to remain listed on a stock exchange and maintain an active trading market; our ability to avail ourselves of tax credits for the clean-up of coal refuse piles; legislative or regulatory changes, and liability under, or any future inability to comply with, existing or future energy regulations or requirements; our ability to replicate and scale the carbon capture project; our ability to manage costs related to the carbon capture project; and our ability to monetize our carbon capture project, including through the private market; our ability to qualify for, obtain, monetize or otherwise benefit from the Puro registry and Section 45Q tax credits, our ability to timely complete a strategic review process and our ability to consummate a transaction in connection with such process, in part or at all, our ability to qualify for demand response programs, our ability to qualify as PJM “In Network” load, our ability to prepare our sites for and execute on GPU computing initiatives and our ability to expand the power capacity at our sites. More information on these risks and other potential factors that could affect our financial results are included in our filings with the SEC, including in the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections of our Annual Report on Form 10-K filed on March 8, 2024, and in our subsequently filed Quarterly Reports on Form 10-Q. Any forward-looking statement or guidance speaks only as of the date as of which such statement is made, and, except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements or guidance, whether because of new information, future events, or otherwise.
Contacts:
Stronghold Digital Mining, Inc.
Investor Contact:
Matt Glover or Alec Wilson
Gateway Group, Inc.
SDIG@gateway-grp.com
1-949-574-3860
Media Contact:
contact@strongholddigitalmining.com
FAQ
When is Stronghold Digital Mining (SDIG) CFO Matthew Smith leaving the company?
Will SDIG replace Matthew Smith on the Board of Directors?
Is Matthew Smith's resignation from SDIG related to any company disputes?
What role will Matthew Smith have at SDIG after his resignation?
