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Stronghold Digital Mining | 10-Q: Q3 2024 Earnings Report

Stronghold Digital Mining | 10-Q: Q3 2024 Earnings Report

Stronghold Digital Mining | 10-Q:2024財年三季報
美股SEC公告 ·  2024/11/14 06:32

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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.
Stronghold Digital Mining報告2024年第三季度營業收入爲1120萬美元,比2023年第三季度的1770萬美元下降了37%,主要是由於比特幣挖掘經濟狀況下降導致的數字貨幣挖掘收入減少。數字貨幣挖掘收入減少了400萬美元,而託管收入下降了190萬美元。與上年同期的2230萬美元虧損相比,公司錄得淨虧損2270萬美元。公司已與Bitfarms達成戰略託管協議,包括2024年8月宣佈的一項合併協議,該協議中Bitfarms將以全股票交易收購Stronghold。在協議下,Bitfarms將向Stronghold的設施交付約20,000台比特幣礦機,算力容量超過3.8 EH/s...展開全部
Stronghold Digital Mining報告2024年第三季度營業收入爲1120萬美元,比2023年第三季度的1770萬美元下降了37%,主要是由於比特幣挖掘經濟狀況下降導致的數字貨幣挖掘收入減少。數字貨幣挖掘收入減少了400萬美元,而託管收入下降了190萬美元。與上年同期的2230萬美元虧損相比,公司錄得淨虧損2270萬美元。公司已與Bitfarms達成戰略託管協議,包括2024年8月宣佈的一項合併協議,該協議中Bitfarms將以全股票交易收購Stronghold。在協議下,Bitfarms將向Stronghold的設施交付約20,000台比特幣礦機,算力容量超過3.8 EH/s。合併預計將在2025年第一季度完成,需獲得股東和監管機構的批准。截至2024年11月8日,Stronghold擁有或託管約32,000台比特幣礦機,算力容量爲3.2 EH/s。公司的數據中心能夠支持超過40,000台礦機的運行,可能支持超過7 EH/s的算力容量。到2024年9月30日,公司持有450萬美元現金和大約10個比特幣,總債務爲5340萬美元。
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