Stronghold Digital Mining, Inc. (NASDAQ:SDIG) (“Stronghold”, or the “Company”) today provided the following updates regarding its operations and financial performance:
August Bitcoin Mining Update
In late August, Stronghold achieved hash rate capacity of 4 EH/s. As expected, 1,135 MicroBT Whatsminer M50 and M50S miners and 4,000 Canaan Avalon A1346 miners have been delivered, and all are either plugged in or expected to be plugged in imminently. The Company expects a considerable increase in hash rate in the month of September and over 20% hash rate growth in the fourth quarter of 2023 when compared to the third quarter of 2023.
Stronghold mined 219 Bitcoin in August and generated approximately $0.5 million in energy revenue, which represents the equivalent of approximately 16 additional Bitcoin based on the average price of Bitcoin during the month. This equates to approximately 235 of Bitcoin-equivalent production in August 2023 compared to approximately 225 in July 2023.
