Stronghold Q3 2024 Earnings Report
Key Takeaways
Stronghold Digital Mining reported revenues of $11.2 million, a GAAP Net Loss of $22.7 million, and a non-GAAP Adjusted EBITDA Loss of $5.5 million for the third quarter of 2024. The company generated 188 Bitcoin and approximately $0.5 million of energy revenues, representing the equivalent of 8 Bitcoin.
Revenues reached $11.2 million, reflecting a 42% sequential decrease and a 37% year-over-year decrease.
Cryptocurrency operations contributed $10.6 million to the total revenues, while energy sales accounted for $0.5 million.
GAAP Net Loss amounted to $22.7 million.
Entered into a merger agreement with Bitfarms, expected to close in the first quarter of 2025.
Stronghold
Stronghold
Stronghold Revenue by Segment
Forward Guidance
The Merger Agreement has been unanimously approved by the Boards of Directors of both companies and is expected to close in the first quarter of 2025, subject to the receipt of Stronghold shareholder approval, applicable regulatory approvals, certain third-party consents and other customary closing conditions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income