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Stronghold Digital Mining Inc - SDIG STOCK NEWS

Welcome to our dedicated news page for Stronghold Digital Mining (Ticker: SDIG), a resource for investors and traders seeking the latest updates and insights on Stronghold Digital Mining.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Stronghold Digital Mining's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Stronghold Digital Mining's position in the market.

News
Stronghold Announces Preliminary First Quarter 2024 Results
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) reported preliminary unaudited financial results for the first quarter of 2024. The company generated an estimated $27.5 million in revenue, $5.8 million in GAAP Net Income, and $8.7 million in adjusted EBITDA. Revenue mainly came from cryptocurrency mining and energy sales. The first quarter saw improved Bitcoin mining economics and operational execution. Stronghold has scheduled its earnings conference call on May 2nd to discuss these results.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.46%
Tags
earnings
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News
Stronghold Provides March 2024 Bitcoin Mining and Operational Update
Rhea-AI Summary
Stronghold Digital Mining, Inc. (SDIG) reported strong financial performance in March 2024, mining 179 Bitcoins and generating $0.1 million in energy revenue. The company saw a 37% revenue increase compared to February 2024, driven by a higher hash rate and Bitcoin price.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.69%
Tags
none
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News
Stronghold Announces Fourth Quarter 2023 Operating and Financial Results
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) announced financial and operational results for Q4 and full year 2023. They achieved 3.8 EH/s of hash rate, executed electricity sales agreements, and reduced fixed costs by 37%. Revenue was $21.7 million, with a net loss of $21.2 million. Bitcoin production was down 3% in Q4 2023, but hash price improved by 31%. Stronghold had $7.9 million in revenue in February 2024. They are progressing with their carbon capture project and have $10.2 million in cash as of February 29, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.33%
Tags
earnings
News
Stronghold Digital Mining Sets Fourth Quarter and Full Year 2023 Earnings Conference Call for Wednesday, March 6 at 11:00 a.m. Eastern Time
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) will host a conference call on March 6, 2024, to discuss its Q4 and full-year 2023 financial results. The call will include prepared remarks and a Q&A session, with a live webcast available on the company's Investor Relations page. A press release will be issued before the market opens on the same day.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-8.43%
Tags
earnings
-
News
Stronghold Announces January Bitcoin Mining and Carbon Capture Update
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) provided updates on its Bitcoin mining and carbon capture operations. In January 2024, the company mined 192 Bitcoin, generating $0.4 million in energy revenue. However, the Bitcoin-equivalent production decreased by 6% from December 2023. The company also generated $8.0 million in revenue during January. Stronghold continues to be encouraged by test results from its first Karbolith and has begun erecting its second Karbolith, expected to be operational by the end of February.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
14.97%
Tags
none
-
News
Canaan Secures Follow-On Purchase Orders from Cipher and Stronghold
Rhea-AI Summary
Canaan Inc. (NASDAQ: CAN) secures follow-on purchase orders from Cipher Mining Inc. (NASDAQ: CIFR) and Stronghold Digital Mining, Inc. (NASDAQ: SDIG) for over 17,000 Bitcoin mining machines, building upon existing relationships. The orders involve the purchase of 16,700 A1466 model Avalon Miners by Cipher's JV entities and 1,100 A1346 model Avalon Miners by Stronghold, with positive feedback from both companies' CEOs.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.86%
Tags
none
News
Stronghold Announces Addition of up to ~1 EH/s Through Bitcoin Miner Purchases and an Option to Purchase Bitcoin Miners
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) announced the purchase of 5,000 Bitcoin miners with a cumulative hash rate capacity of approximately 600 PH/s and average efficiency of 25 J/T. The company also received the option to purchase 2,500 Canaan Avalon A1466 Bitcoin miners with an aggregate hash rate capacity of 360 PH/s and expected efficiency of 21.5 J/T. In addition, the company provided a December Bitcoin mining update, reporting the mining of 207 Bitcoin and generating approximately $0.4 million in energy revenue in December 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.59%
Tags
none
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News
Stronghold Enters Into $15 Million Private Placement
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) announced a securities purchase agreement with an institutional investor to sell 2,300,000 shares of Class A Common Stock at $6.71 per share equivalent, along with warrants to purchase 2,300,000 shares. The Private Placement is expected to yield $15.4 million in gross proceeds and will be used to enhance growth, accelerate its carbon capture initiative, and improve its working capital position. Additionally, the Panther Creek Plant experienced operational issues resulting in additional expenses of approximately $1.5 million, but has since resumed operations and achieved a site-record hash rate of over 2 EH/s.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
31%
Tags
none
-
News
Stronghold Announces November 2023 Bitcoin Mining Update
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) provided updates on Bitcoin mining, revenue generation, and an upcoming Business Strategy Overview and Carbon Capture Panel event. In November 2023, the company mined 193 Bitcoin, generated approximately $0.7 million in energy revenue, and achieved its highest monthly revenue of $7.2 million. The Business Strategy Overview and Carbon Capture Panel event is scheduled for December 12th at the Nasdaq Marketsite, featuring senior management's business strategy overview and a panel on the carbon capture initiative with industry experts.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.56%
Tags
none
News
Stronghold to Host Analyst and Investor Day on December 12, 2023
Rhea-AI Summary
Stronghold Digital Mining, Inc. (NASDAQ: SDIG) will host its first-ever Analyst and Investor Day on December 12, 2023, in New York, NY, providing in-depth overviews of its business, growth strategy, and carbon capture initiative. Senior management and industry experts will give presentations. Advanced registration is required for the in-person event, and a webcast will be available for remote viewing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
2.77%
Tags
conferences
Stock SDIG logo
Stronghold Digital Mining Inc

Nasdaq:SDIG

SDIG Rankings

#4785 Ranked by Market Cap
#4814 Ranked by Stock Gains
N/A Ranked by Dividends

SDIG Stock Data

39.83M
10.77M
8.75%
15.3%
2.77%
Software Publishers
Information
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United States
New York

About SDIG

based in pennsylvania, stronghold digital mining is a vertically integrated and environmentally beneficial digital asset miner.