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Earnings Call Summary | Stronghold Digital Mining(SDIG.US) Q1 2024 Earnings Conference

Futu News ·  May 5 00:44  · Conference Call

The following is a summary of the Stronghold Digital Mining, Inc. (SDIG) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Stronghold Digital Mining reported Q1 2024 revenue of $27.5 million: $26.7 million from cryptocurrency operations and $0.7 million from energy operations.

  • They achieved a GAAP net income of $5.8 million.

  • Exceeded their adjusted EBITDA guidance of over $5 million for the quarter by over 70%.

Business Progress:

  • Stronghold currently operates two mining waste-to-power facilities in Pennsylvania with an aggregate power capacity of 165 megawatts.

  • They have proposed a development for a carbon capture project at their Scrubgrass plant, which is expected to get accreditation within the quarter.

  • The company is reviewing strategic alternatives including the sale of all or part of the company to maximize the value potential of their assets.

  • They believe their existing Bitcoin mining data center capacity can potentially be expanded to over 400 megawatts.

More details: Stronghold Digital Mining IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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