Stronghold Provides August 2024 Bitcoin Mining and Operational Update
Stronghold Digital Mining (NASDAQ: SDIG) released its August 2024 operational update. The company mined 63 Bitcoin and generated about $0.2 million in energy revenue, equivalent to approximately 4 additional Bitcoin. Total production reached 67 Bitcoin equivalents, a 2% increase from July's 66. However, estimated revenue for August was $4 million, representing a 2% decrease compared to July 2024. This update provides insights into Stronghold's mining performance and revenue generation, highlighting both growth in Bitcoin production and a slight decline in overall revenue.
Stronghold Digital Mining (NASDAQ: SDIG) ha pubblicato il suo aggiornamento operativo di agosto 2024. L'azienda ha estratto 63 Bitcoin e generato circa 200.000 dollari di entrate energetiche, equivalenti a circa 4 Bitcoin aggiuntivi. La produzione totale ha raggiunto 67 Bitcoin equivalenti, con un aumento del 2% rispetto ai 66 di luglio. Tuttavia, le entrate stimate per agosto sono state di 4 milioni di dollari, rappresentando un decremento del 2% rispetto a luglio 2024. Questo aggiornamento fornisce informazioni sulle performance minerarie di Stronghold e sulla generazione di entrate, evidenziando sia la crescita nella produzione di Bitcoin che un lieve calo delle entrate complessive.
Stronghold Digital Mining (NASDAQ: SDIG) publicó su actualización operativa de agosto de 2024. La compañía extrajo 63 Bitcoin y generó aproximadamente $0.2 millones en ingresos por energía, equivalente a aproximadamente 4 Bitcoin adicionales. La producción total alcanzó 67 Bitcoin equivalentes, un aumento del 2% en comparación con los 66 de julio. Sin embargo, los ingresos estimados para agosto fueron de $4 millones, lo que representa una disminución del 2% en comparación con julio de 2024. Esta actualización proporciona información sobre el desempeño minero de Stronghold y la generación de ingresos, destacando tanto el crecimiento en la producción de Bitcoin como una ligera disminución en los ingresos totales.
스트롱홀드 디지털 마이닝 (NASDAQ: SDIG)은 2024년 8월 운영 업데이트를 발표했습니다. 회사는 63 비트코인을 채굴하고 약 $0.2 백만의 에너지 수익을 생성했으며, 이는 약 4개의 추가 비트코인에 해당합니다. 총 생산량은 67 비트코인 등가물에 도달했으며, 이는 7월의 66 비트코인보다 2% 증가한 수치입니다. 그러나 8월 예상 수익은 $4 백만으로, 2024년 7월 대비 2% 감소했습니다. 이 업데이트는 스트롱홀드의 채굴 성과와 수익 생성에 대한 통찰력을 제공하며, 비트코인 생산의 성장과 전체 수익의 약간의 감소를 강조합니다.
Stronghold Digital Mining (NASDAQ: SDIG) a publié sa mise à jour opérationnelle d'août 2024. La société a extrait 63 Bitcoin et généré environ 200 000 dollars de revenus énergétiques, équivalent à environ 4 Bitcoin supplémentaires. La production totale a atteint 67 Bitcoin équivalents, soit une augmentation de 2 % par rapport aux 66 de juillet. Cependant, les revenus estimés pour août s'élevaient à 4 millions de dollars, représentant une diminution de 2% par rapport à juillet 2024. Cette mise à jour fournit des informations sur les performances minières de Stronghold et la génération de revenus, mettant en lumière à la fois la croissance de la production de Bitcoin et un léger déclin des revenus globaux.
Stronghold Digital Mining (NASDAQ: SDIG) hat sein Betriebsupdate für August 2024 veröffentlicht. Das Unternehmen hat 63 Bitcoin abgebaut und etwa $0,2 Millionen an Energieeinnahmen generiert, was ungefähr 4 zusätzlichen Bitcoin entspricht. Die Gesamtproduktion erreichte 67 Bitcoin-Äquivalente, was einem Anstieg von 2 % gegenüber den 66 im Juli entspricht. Die geschätzten Einnahmen für August betrugen jedoch $4 Millionen, was einem Rückgang von 2% im Vergleich zu Juli 2024 entspricht. Dieses Update bietet Einblicke in die Mining-Leistung und die Einnahmengenerierung von Stronghold und hebt sowohl das Wachstum der Bitcoin-Produktion als auch einen leichten Rückgang der Gesamteinnahmen hervor.
- Increased Bitcoin equivalent production by 2% from July to August 2024
- Generated additional revenue through energy sales equivalent to 4 Bitcoin
- 2% decrease in estimated revenue from July to August 2024, dropping to $4 million
NEW YORK, Sept. 04, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold” or the “Company”) today provided the following updates regarding its operations and financial performance:
Bitcoin Mining Update
Stronghold mined 63 Bitcoin in August 2024 and generated approximately
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 Alex Kovtun
Gateway Group, Inc.
SDIG@gateway-grp.com
1-949-574-3860
Media Contact:
contact@strongholddigitalmining.com
FAQ
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