Stronghold Digital Mining reported Q3 2024 revenue of $11.2 million, down 37% from $17.7 million in Q3 2023, primarily due to lower cryptocurrency mining revenue amid declining Bitcoin mining economics. Cryptocurrency mining revenue decreased by $4.0 million while hosting revenue fell by $1.9 million. The company recorded a net loss of $22.7 million compared to a $22.3 million loss in the prior year period.The company has entered into strategic hosting agreements with Bitfarms, including a merger agreement announced in August 2024 where Bitfarms will acquire Stronghold in an all-stock transaction. Under the agreements, Bitfarms will deliver approximately 20,000 Bitcoin miners to Stronghold's facilities, with hash rate capacity exceeding 3.8 EH/s. The merger is expected to close in Q1 2025, subject to shareholder and regulatory approvals.As of November 8, 2024, Stronghold owned or hosted approximately 32,000 Bitcoin miners with hash rate capacity of 3.2 EH/s. The company's data centers have capacity to power over 40,000 miners, potentially supporting hash rate capacity exceeding 7 EH/s. The company held $4.5 million in cash and approximately 10 Bitcoin as of September 30, 2024, with total debt of $53.4 million.

Stronghold Digital Mining reported Q3 2024 revenue of $11.2 million, down 37% from $17.7 million in Q3 2023, primarily due to lower cryptocurrency mining revenue amid declining Bitcoin mining economics. Cryptocurrency mining revenue decreased by $4.0 million while hosting revenue fell by $1.9 million. The company recorded a net loss of $22.7 million compared to a $22.3 million loss in the prior year period.The company has entered into strategic hosting agreements with Bitfarms, including a merger agreement announced in August 2024 where Bitfarms will acquire Stronghold in an all-stock transaction. Under the agreements, Bitfarms will deliver approximately 20,000 Bitcoin miners to Stronghold's facilities, with hash rate capacity exceeding 3.8 EH/s. The merger is expected to close in Q1 2025, subject to shareholder and regulatory approvals.As of November 8, 2024, Stronghold owned or hosted approximately 32,000 Bitcoin miners with hash rate capacity of 3.2 EH/s. The company's data centers have capacity to power over 40,000 miners, potentially supporting hash rate capacity exceeding 7 EH/s. The company held $4.5 million in cash and approximately 10 Bitcoin as of September 30, 2024, with total debt of $53.4 million.