secwatch.observer — SEC 8-K summary
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Issuer:     Stronghold Digital Mining, Inc. (—)
CIK:        0001856028
Form:       8-K
Filed at:   2024-05-02T23:59:59+00:00
Accession:  0001140361-24-023845
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 5.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/0001140361-24-023845-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1856028/000114036124023845/ef20028272_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-24-023845

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer