Share this article
Stronghold Digital Beats Q1 Revenue Estimates, Misses on Earnings
Shares of the bitcoin miner that uses waste coal for energy fell slightly in after-hours trading.
By Nelson Wang
Updated May 11, 2023, 6:53 p.m. Published May 16, 2022, 9:21 p.m.
Stronghold Digital (SDIG) reported first-quarter revenue of $28.7 million, ahead of the consensus analyst estimate of $26.2 million, according to FactSet. But its adjusted net loss of 66 cents per share exceeded the consensus estimate for an adjusted net loss of 8 cents per share.
On May 15, the company, which uses waste coal for energy, said it raised $27 million in cash proceeds through the issuance of principal notes. In total, Stronghold said it had $47 million of cash and equivalents plus unrestricted bitcoin holdings, and more than $60 million of liquidity.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
“Stronghold believes its liquidity position, combined with expected operating cash flow, will be sufficient to meet all existing commitments and fund operations,” the company said in a statement. “The company also believes that incremental liquidity can be created through proceeds related to bitcoin [BTC] miner fleet management and optimization, including potential miner sales and through additional equipment financing agreements, if necessary."
In its first quarter report, Stronghold reiterated its latest guidance to exit 2022 with 4.1 EH/s of installed hash rate capacity.
Following its fourth-quarter earnings report, Stronghold shares tumbled as the company said it wouldn’t be able to achieve its prior target of 8.0 EH/s in computing power by the end of 2022.
Stronghold shares fell roughly 1% to $2.09 in after-hours trading. Shares are down more than 80% year to date.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
Больше для вас
French Banking Giant BPCE to Roll Out Crypto Trading for 2M Retail Clients
The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq.
Что нужно знать:
- French banking group BPCE will start offering crypto trading services to 2 million retail customers through its Banque Populaire and Caisse d’Épargne apps, with plans to expand to 12 million customers by 2026.
- The service will allow customers to buy and sell BTC, ETH, SOL, and USDC through a separate digital asset account managed by Hexarq, with a €2.99 monthly fee and 1.5% transaction commission.
- The move follows similar initiatives by other European banks, such as BBVA, Santander, and Raiffeisen Bank, which have already started offering crypto trading services to their customers.
Top Stories
