Loading...
•
Dec 31, 2022
Stronghold Q4 2022 Earnings Report
Announced financial and operational results.
Key Takeaways
Stronghold Digital Mining reported Q4 2022 revenue of $23.4 million, a net loss of $47.4 million, and a non-GAAP adjusted EBITDA of $5.2 million. The company is focused on deleveraging, enhancing liquidity, and improving operational efficiency.
Achieved Q4 2022 revenue of $23.4 million and non-GAAP adjusted EBITDA of $5.2 million.
Enhanced liquidity and financial flexibility through amended credit agreement and exchange of convertible notes for preferred stock.
Expanded hosting agreement with Foundry Digital, LLC to support approximately 4 EH/s of miners.
Realized benefits from selling beneficial use ash and expect further improvements in 2023.
Revenue by Segment
Forward Guidance
Stronghold provided forward twelve-month guidance (April 2023 - March 2024) based on various hash price and hash rate capacity scenarios.
Positive Outlook
- Revenue guidance is sensitized to hash rate capacity.
- Revenue guidance is sensitized to various hash prices.
- Assumes miner uptime of 95%.
- Assumes hosting commitments, including profit share, in line with current contractual commitments pursuant to existing hosting agreements.
- Revenue received for selling electricity to the grid is based on forward prices for the Penelec and Pennsylvania Power & Light zones in PJM, as of March 28, 2023.
Challenges Ahead
- Bitcoin mining revenue is based on a hash price, which is measured in dollars per terahash per second (“TH/s”) per day.
- Hash price represents global Bitcoin mining revenue per TH/s of network hash rate, incorporating both Bitcoin price and network hash rate.
- Guidance is sensitized to the following hash prices: $0.07 per TH/s per day, $0.08 per TH/s per day, $0.09 per TH/s per day, and $0.10 per TH/s per day.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...