Stronghold Digital Mining(US:SDIG) Newsfilter·2024-07-05 21:00Core Viewpoint - Stronghold Digital Mining, Inc. reported a revenue decline of 24% in June 2024 compared to May 2024, primarily due to a lower average daily hash rate and several operational disruptions [1]. Financial Performance - The company generated an estimated $4.0 million in revenue during June 2024, down from May 2024 [1]. - Stronghold mined 61 Bitcoin in June 2024, with an additional energy revenue of approximately $0.1 million, equating to about 63 Bitcoin-equivalent production for the month [6]. Operational Factors - The decline in revenue was attributed to a 0.9 EH/s lower average daily hash rate caused by: 1. Voluntary curtailment due to extreme heat in Pennsylvania from June 17 to June 23 [1]. 2. A planned outage at the Panther Creek plant for maintenance [1]. 3. A storm affecting the Panther Creek plant transmission line, resulting in four days of downtime [1]. - The average hash price in June was $0.055 per TH/s per day, an increase from $0.052 in April, driven by a slight increase in Bitcoin price and higher transaction fees [1]. Company Overview - Stronghold is a vertically integrated Bitcoin mining company focused on environmentally beneficial operations, utilizing low-cost coal refuse power generation facilities in Pennsylvania [5].