Stronghold 3 gold updates
Stronghold owns, develops, and manages its datacenters, which increases operational control, mitigates supply-chain risks, and improves economics. Stronghold also continues to expand datacenter capacity to house its miners. Additionally, the Company purchased over 2,500 miners on the open market through multiple transactions, with aggregate hash rate capacity exceeding 200 PH/s, which are expected to be installed before the end of the year.
Stronghold 3 gold updates pro#
Since the end of the quarter, Stronghold also entered into two agreements with Bitmain to purchase 12,000 S19j Pro miners and 1,800 S19 XP miners, with aggregate hash rate capacity of approximately 1,450 PH/s. Performance for these machines has been in line with expectations.
Since the end of the third quarter, Stronghold has received nearly 3,000 miners, including the first 240 MV7 miners from MinerVa, and the Company expects to have over 500 MinerVa miners installed by the end of the week, with shipments ramping up for the 15,000-miner order. As of November 29, 2021, the Company has purchased or installed approximately 45,000 miners with total hash rate capacity of approximately 4,390 PH/s. As of September 30, 2021, the Company had approximately 3,000 miners deployed with total hash rate capacity of approximately 185 PH/s. Stronghold remains on track to reach its hash rate capacity goal of 8,000 PH/s by the end of 2022, with miners from a diversified group of global manufacturers, including MinerVa, Bitmain, and MicroBT. These piles are actively polluting the Commonwealth’s air and water, and we are proud that our operations benefit the local communities.” “We have structured Stronghold to not only be a best-in-class Bitcoin miner, but also to have a positive impact on the environment, which we accomplish through the cleanup of toxic, legacy waste coal piles in Pennsylvania.
“We are excited about our entry into the public markets as a well-capitalized, vertically integrated Bitcoin miner with an advantageous cost structure,” said Greg Beard, co-chairman and chief executive officer of Stronghold. Pro forma cash and cash equivalents as of Septemwas approximately $104.2 million, as adjusted for net proceeds from the IPO, closing of the Panther Creek Plant acquisition, and deposits paid in relation to announced miner purchases Removed approximately 106,000 tons of coal refuse and returned approximately 64,500 tons of beneficial use ash to waste coal piles during the quarter, facilitating the remediation of these sitesĬlosed upsized initial public offering (“IPO”) on October 22, 2021, generating net proceeds of approximately $132.5 millionĬlosed acquisition of Panther Creek Plant on November 2, 2021, increasing owned power generation capacity to approximately 165 megawatts (“MW”)Īs of November 29, 2021, has received nearly 6,000 miners with total hash rate capacity of approximately 470 petahash per second (“PH/s”) and remains on track to achieve its hash rate capacity goal of 8,000+ PH/s by the end of 2022
Third Quarter and Recent Operational and Financial Highlights (Nasdaq: SDIG) (“Stronghold,” or the “Company”) today reported financial results for its third quarter ended Septemand provided an operational update. 30, 2021 (GLOBE NEWSWIRE) - Stronghold Digital Mining, Inc.