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

moomoo AI ·  May 4 12:44  · 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: This article is generated by AI. The accuracy of the content can not be fully guaranteed. 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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