---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-023845"
form_type: "8-K"
ticker: null
cik: "0001856028"
company_name: "Stronghold Digital Mining, Inc."
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T00:54:14.336547+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Stronghold Digital Q1 revenue $27.5M (+59% YoY), net income $5.8M; launches strategic review

## Summary
- Revenue $27.5M (+59% YoY); GAAP net income $5.8M; adjusted EBITDA $8.7M.
- Mined 546 Bitcoin in Q1 (561 Bitcoin-equivalent); April mined 155 Bitcoin; hash rate 3.6 EH/s.
- Initiated formal strategic review; considering sale or other transaction; retained Cohen & Co. and Vinson & Elkins.
- Appointed Ryan Weber as CAO; salary $225K; target bonus $50K; additional 10,000 RSUs over 2 years.
- Cash and equivalents $8.0M as of Apr 30; debt $55.3M; $3.4M ATM capacity remaining.

## SEC filing metadata
- accession: 0001140361-24-023845
- form_type: 8-K
- cik: 0001856028
- company_name: Stronghold Digital Mining, Inc.
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/0001140361-24-023845-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/ef20028272_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-023845
- JSON: https://secwatch.observer/filing/0001140361-24-023845.json
- Plain text: https://secwatch.observer/filing/0001140361-24-023845.txt

## Key facts
- Earnings Releases
  Stronghold Digital Mining, Inc. reported the first quarter ended March 31, 2024 results: revenue $27.5 million, net income $5.8 million.
  - Period: the first quarter ended March 31, 2024
  - Revenue: $27.5 million
  - Net income: $5.8 million
  - Result: reported results
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/0001140361-24-023845-index.htm
- Executive change
  Ryan Weber was appointed as Chief Accounting Officer at Stronghold Digital Mining, Inc..
  - Action: appointed
  - Role: Chief Accounting Officer
  source text: On May 1, 2024 (the “Effective Date”), the Company’s Board of Directors (“Board”) appointed Ryan Weber, age 38, to serve as the Company’s Chief Accounting Officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/0001140361-24-023845-index.htm
- Executive change
  Matthew Smith changed role as Chief Financial Officer at Stronghold Digital Mining, Inc..
  - Role: Chief Financial Officer
  source text: Matthew Smith, who will continue in his role as Chief Financial Officer, will no longer serve as the principal accounting officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/0001140361-24-023845-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.