âą
Jun 30, 2022
Stronghold Q2 2022 Earnings Report
Stronghold's financial position was greatly enhanced by debt restructuring events and strategic shifts in power sales, despite a net loss.
Key Takeaways
Stronghold Digital Mining reported a significant increase in revenue driven by Bitcoin mining and energy sales. The company underwent major debt restructuring to improve financial flexibility. A net loss was reported due to increased operating expenses and asset impairments.
Eliminated $67.4 million in debt by returning 26,200 Bitcoin miners to NYDIG.
Restructured WhiteHawk financing agreements, extending debt tenor and adding borrowing capacity.
Reduced principal amount outstanding by approximately $79 million through debt and warrant restructurings.
Increased revenue by 597% to $29.2 million due to higher Bitcoin mining and energy revenue.
Stronghold
Stronghold
Stronghold Revenue by Segment
Revenue & Expenses
Visualization of income flow from segment revenue to net income