NEW YORK, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, the “Company”, or “we”) today announced that its stockholders have overwhelmingly voted “FOR” the pending merger (the “Merger”) between Stronghold and Bitfarms Ltd. (NASDAQ/TSX: BITF) (“Bitfarms”). “I'm incredibly proud of what we've accomplished at Stronghold,” said Gregory Beard, Chief Executive Officer and Chairman of Stronghold. “We are thrilled by the strong endorsement from our stockholders, who r ...

NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ:SDIG) ("Stronghold", the "Company", or "we") today announced that the world's leading independent proxy advisory firms, Institutional Shareholder Services ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have each recommended that Stronghold stockholders vote "FOR" the pending merger (the "Merger") between Stronghold and Bitfarms Ltd. (NASDAQ/TSX:BITF) at the upcoming special meeting of the Company's stockholders on February 2 ...

NEW YORK, Feb. 19, 2025 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, the “Company”, or “we”) today announced that the world’s leading independent proxy advisory firms, Institutional Shareholder Services (“ISS”) and Glass Lewis & Co. (“Glass Lewis”), have each recommended that Stronghold stockholders vote “FOR” the pending merger (the “Merger”) between Stronghold and Bitfarms Ltd. (NASDAQ/TSX: BITF) at the upcoming special meeting of the Company’s stockholders on February ...

NEW YORK, Jan. 20, 2025 /PRNewswire/ -- The Rosen Law Firm, P.A. announces that the United States District Court for the Southern District of New York has approved the following announcement of a proposed class action settlement that would benefit purchasers of Class A common stock of Stronghold Digital Mining, Inc. (NASDAQ: SDIG):SUMMARY NOTICE OF PENDENCY OF CLASS ACTION, PROPOSED SETTLEMENT, AND MOTION FOR ATTORNEYS' FEES AND EXPENSESTo: All persons and entities who or which purchased or otherwise acquir ...

Financial Data and Key Metrics Changes - For Q3 2024, the company reported revenue of $11.2 million, a decrease of 42% sequentially and 37% year-over-year [21] - The GAAP net loss for the quarter was $22.7 million, with a non-GAAP adjusted EBITDA loss of $5.5 million [21] - Cash and cash equivalents were approximately $5.1 million as of September 30, 2024, and increased to $6.7 million by November 8, 2024 [22] Business Line Data and Key Metrics Changes - Bitcoin production for Q3 2024 totaled 188 Bitcoin, with an additional $0.5 million in energy revenue, equivalent to approximately 8 Bitcoin, leading to a total production of 196 Bitcoin for the quarter, representing a 35% decrease compared to Q2 2024 [20] - The decline in production was primarily attributed to the Bitcoin halving on April 19, which reduced the block reward from 6.25 to 3.125 Bitcoin [20] Market Data and Key Metrics Changes - The company has entered into two hosting agreements with Bitfarms to host a total of 20,000 Bitcoin miners, which is expected to enhance operational efficiency and revenue generation [15][17] Company Strategy and Development Direction - The company is focused on a transformative merger with Bitfarms, which is expected to create a pro forma company with an energy portfolio exceeding 950 megawatts by the end of 2025 [11] - The merger aims to leverage the capabilities of the Scrubgrass and Panther Creek facilities to deliver low-cost power and support sustainability initiatives [14] - The company is also looking to diversify its business beyond Bitcoin mining by integrating high-performance computing [14] Management's Comments on Operating Environment and Future Outlook - Management expressed excitement about the merger with Bitfarms and the strategic initiatives underway to expand capacity and enhance operational efficiency [24] - The company remains committed to creating long-term value for shareholders and positioning itself as a leader in the evolving digital infrastructure space [24] Other Important Information - The CFO, Matt Smith, will be stepping down effective November 15, 2024, after playing a crucial role in the merger and capital raising efforts [18] Q&A Session Summary - The Q&A session details were not provided in the content, thus no summary can be generated for this section.

Stronghold Digital Mining, Inc. (SDIG) came out with a quarterly loss of $1.12 per share versus the Zacks Consensus Estimate of a loss of $0.62. This compares to loss of $0.05 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -80.65%. A quarter ago, it was expected that this company would post a loss of $0.41 per share when it actually produced a loss of $0.74, delivering a surprise of -80.49%.Over the last four quarters, the co ...

NEW YORK, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (NASDAQ: SDIG) (“Stronghold”, the “Company”, or “we”) today announced the following: Recent Financial Highlights Revenues of $11.2 million, down 42% sequentially and 37% year-over-year. Revenues comprised $10.6 million from cryptocurrency operations and $0.5 million from the sale of energy.GAAP Net Loss of $22.7 million and non-GAAP Adjusted EBITDA Loss of $5.5 million. Merger Agreement with Bitfarms On August 21, 2024, the Company ...

NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Stronghold Digital Mining, Inc. (the “Company”) today announced that Chief Financial Officer Matthew Smith will resign from his position, effective November 15, 2024, after the Company files its Quarterly Report on Form 10-Q for the third quarter of 2024. Mr. Smith will also step down from the Company’s Board of Directors at that time. Mr. Smith’s resignation was not due to any disagreement with the Company on any matter relating to the Company’s operations, polic ...

NEW YORK, Sept. 4, 2024 /PRNewswire/ -- Monteverde & Associates PC (the "M&A Class Action Firm"), has recovered money for shareholders and is recognized as a Top 50 Firm in the 2018-2022 ISS Securities Class Action Services Report. We are headquartered at the Empire State Building in New York City and are investigating Stronghold Digital Mining, Inc. (Nasdaq: SDIG), relating to its proposed merger with Bitfarms Ltd. Under the terms of the agreement, Stronghold stockholders are expected to receive 2.52 share ...

Company Performance - Stronghold Digital Mining, Inc. reported a quarterly loss of $0.74 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.41, and compared to a loss of $2.40 per share a year ago, indicating an earnings surprise of -80.49% [1] - The company posted revenues of $19.1 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 5.19%, and this represents a slight increase from year-ago revenues of $18.23 million [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times, but has not been able to beat consensus revenue estimates [2] Stock Performance - Stronghold Digital Mining shares have lost approximately 63.8% since the beginning of the year, contrasting with the S&P 500's gain of 13.9% [3] - The current consensus EPS estimate for the coming quarter is -$0.47 on revenues of $19.3 million, and for the current fiscal year, it is -$0.94 on revenues of $86.4 million [7] Industry Outlook - The Zacks Industry Rank for Financial - Miscellaneous Services, to which Stronghold Digital Mining belongs, is currently in the top 26% of over 250 Zacks industries, indicating a favorable industry outlook [8]