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Stronghold Digital Mining | 8-K: Stronghold Announces Third Quarter 2024 Operating and Financial Results

Stronghold Digital Mining | 8-K: Stronghold Announces Third Quarter 2024 Operating and Financial Results

Stronghold Digital Mining | 8-K:Stronghold公布2024年第三季度运营和财务业绩
美股SEC公告 ·  2024/11/13 13:18

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Stronghold Digital Mining reported Q3 2024 revenues of $11.2 million, down 42% QoQ and 37% YoY, with a GAAP net loss of $22.7 million. The revenue comprised $10.6 million from cryptocurrency operations and $0.5 million from energy sales. The company generated 188 Bitcoin during the quarter, representing a 35% decrease from Q2 2024 due to the Bitcoin halving event.The company has entered into a merger agreement with Bitfarms, where Stronghold shareholders will receive 2.52 Bitfarms common shares for each Stronghold share. Additionally, Stronghold signed two hosting agreements with Bitfarms to host 20,000 Bitmain T21 Bitcoin miners at its Panther Creek and Scrubgrass sites, with Bitfarms depositing $15.6 million for power costs.As of September 30, 2024, Stronghold had $5.1 million in cash and digital assets, with $53.7 million in outstanding debt. The company expects to receive $2.6 million from waste coal tax credits within 30 days. The merger with Bitfarms is expected to close in Q1 2025, subject to shareholder and regulatory approvals.
Stronghold Digital Mining reported Q3 2024 revenues of $11.2 million, down 42% QoQ and 37% YoY, with a GAAP net loss of $22.7 million. The revenue comprised $10.6 million from cryptocurrency operations and $0.5 million from energy sales. The company generated 188 Bitcoin during the quarter, representing a 35% decrease from Q2 2024 due to the Bitcoin halving event.The company has entered into a merger agreement with Bitfarms, where Stronghold shareholders will receive 2.52 Bitfarms common shares for each Stronghold share. Additionally, Stronghold signed two hosting agreements with Bitfarms to host 20,000 Bitmain T21 Bitcoin miners at its Panther Creek and Scrubgrass sites, with Bitfarms depositing $15.6 million for power costs.As of September 30, 2024, Stronghold had $5.1 million in cash and digital assets, with $53.7 million in outstanding debt. The company expects to receive $2.6 million from waste coal tax credits within 30 days. The merger with Bitfarms is expected to close in Q1 2025, subject to shareholder and regulatory approvals.
Stronghold Digital Mining 报告称 2024 年第三季度营业收入为 1120万美元,比上季度下降 42%,比去年同期下降 37%,GAAP 净亏损为 2270万美元。收入包括 1060万美元来自数字货币业务和 50万美元来自能源销售。公司在季度内生产了 188 个比特币,比 2024 年第二季度下降 35%,这与比特币减半事件有关。该公司已与 Bitfarms 签署合并协议,Stronghold 股东将每持有一股 Stronghold 股票获得 2.52 股 Bitfarms 普通股。此外,Stronghold 与 Bitfarms 签署了两份托管协议,将在其 Pant...展开全部
Stronghold Digital Mining 报告称 2024 年第三季度营业收入为 1120万美元,比上季度下降 42%,比去年同期下降 37%,GAAP 净亏损为 2270万美元。收入包括 1060万美元来自数字货币业务和 50万美元来自能源销售。公司在季度内生产了 188 个比特币,比 2024 年第二季度下降 35%,这与比特币减半事件有关。该公司已与 Bitfarms 签署合并协议,Stronghold 股东将每持有一股 Stronghold 股票获得 2.52 股 Bitfarms 普通股。此外,Stronghold 与 Bitfarms 签署了两份托管协议,将在其 Panther Creek 和 Scrubgrass 站点托管 20,000 台比特大陆 T21 比特币矿机,Bitfarms 为电力成本存入了 1560万美元。截至 2024 年 9 月 30 日,Stronghold 现金和数字资产为 510万美元,未偿债务为 5370万美元。公司预计在 30 天内将收到 260万美元的废煤税收抵免。与 Bitfarms 的合并预计将在 2025 年第一季度完成,需经过股东和监管机构批准。
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