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Stock impact report

Stronghold Announces First Quarter 2024 Operating and Financial Results

Stronghold Digital Mining, Inc. (SDIG) 
Company Research Source: GlobeNewswire
NEW YORK, May 02, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, the “Company”, or “we”) today announced financial and operational results for the first quarter of 2024 and provided other strategic updates: Recent Financial Highlights The Company generated revenues of $27.5 million during the first quarter of 2024, up 27% sequentially and 59% year-over-year. Revenues comprised $26.7 million from cryptocurrency operations, $0.7 million from the sale of energy, and $0.1 million from other activities.First quarter 2024 fixed costs were down 3% sequentially and 11% year-over-year, demonstrating Stronghold’s operating leverage and cost controls. Fixed costs include operations & maintenance expenses and general & administrative expenses, excluding stock-based compensation.The Company earned GAAP Net Income of $5.8 million and non-GAAP Adjusted EBITDA of $8.7 million during the first quarter of 2024. 1 Strategic Alternatives Stronghold and its Bo Show less Read more
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