Stronghold Digital Mining(US:SDIG)2023-08-10 19:01Q2 2023 Performance & Guidance - Stronghold expects to achieve 4 EH/s of delivered hash rate capacity by 9/1/23, which is fully funded[6] - The company's 1H23 fixed costs (O&M and cash G&A) decreased by approximately $15 million, representing a 34% reduction compared to 1H22[6] - Stronghold anticipates having less than $50 million of principal debt outstanding by YE23, a decrease from nearly $150 million at 6/30/22[6] - The company mined 626 Bitcoins in Q2 2023[12, 29] Capital Efficiency & Investments - Since April 2023, Stronghold procured approximately 1.6 EH/s of hash rate capacity with an investment of only ~$15 million, equating to ~$10/T for ~110 TH/s miners[6] - The company spent approximately $12 million on 6,135 MicroBT miners with an average hash rate of 118 TH/s and efficiency of 28 J/T[16] - In Q2 2023, Stronghold purchased 2,000 miners and hosted 6,000 miners, with an average hash rate of 104 TH/s, efficiency of 31 J/T, and capital expenditure of approximately $3 million[24] Environmental Impact - Nearly 140,000 tons of coal refuse were removed from the local environment during Q2 2023[12, 41] - Approximately 81,000 tons of beneficial use ash were returned to remediate sites[41] Financials - Total revenue for the period was $18.2 million[41] - The company reported a net loss of $11.7 million[41, 43] - Adjusted EBITDA was a loss of $2.6 million[41, 43]