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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
OPERATING REVENUES:        
Total operating revenues $ 11,168,073 $ 17,726,957 $ 57,794,397 $ 53,226,913
OPERATING EXPENSES:        
Fuel 6,500,292 8,556,626 19,709,424 22,262,141
Operations and maintenance 4,998,609 6,961,060 22,321,981 24,206,080
General and administrative 8,326,999 6,598,951 26,671,930 25,145,444
Depreciation and amortization 8,623,646 9,667,213 27,428,863 26,025,021
Loss on disposal of fixed assets 458,147 0 2,189,252 108,367
Realized gain on sale of digital currencies (719,795) (131,706) (1,100,214) (725,139)
Unrealized loss (gain) on digital currencies 33,783 0 (113,438) 0
Realized loss on sale of miner assets 530,099 0 494,087 0
Impairments on digital currencies 0 357,411 0 683,241
Impairments on equipment deposits 0 5,422,338 0 5,422,338
Total operating expenses 28,751,780 37,431,893 97,601,885 103,127,493
NET OPERATING LOSS (17,583,707) (19,704,936) (39,807,488) (49,900,580)
OTHER INCOME (EXPENSE):        
Interest expense (2,236,587) (2,441,139) (6,748,059) (7,428,530)
Loss on debt extinguishment 0 0 0 (28,960,947)
Changes in fair value of warrant liabilities (2,850,298) (180,838) 8,445,247 5,580,453
Other 0 15,000 15,000 45,000
Total other (expense) income (5,086,885) (2,606,977) 1,712,188 (30,764,024)
NET LOSS (22,670,592) (22,311,913) (38,095,300) (80,664,604)
NET LOSS attributable to noncontrolling interest (3,181,407) (5,188,727) (5,588,300) (26,663,731)
NET LOSS attributable to Stronghold Digital Mining, Inc. $ (19,489,185) $ (17,123,186) $ (32,507,000) $ (54,000,873)
NET LOSS attributable to Class A common shareholders:        
Basic (in USD per share) $ (1.34) $ (2.26) $ (2.27) $ (8.93)
Diluted (in USD per share) $ (1.34) $ (2.26) $ (2.27) $ (8.93)
Weighted average number of Class A common shares outstanding:        
Basic (in shares) 14,594,955 7,569,511 14,319,202 6,047,891
Diluted (in shares) 14,594,955 7,569,511 14,319,202 6,047,891
Cryptocurrency mining        
OPERATING REVENUES:        
Total operating revenues $ 8,709,777 $ 12,684,894 $ 44,989,361 $ 37,764,990
Cryptocurrency hosting        
OPERATING REVENUES:        
Total operating revenues 1,911,610 3,789,375 11,193,438 9,195,072
Energy        
OPERATING REVENUES:        
Total operating revenues 502,640 1,210,811 1,424,077 4,682,590
Capacity        
OPERATING REVENUES:        
Total operating revenues 0 0 0 1,442,067
Other        
OPERATING REVENUES:        
Total operating revenues $ 44,046 $ 41,877 $ 187,521 $ 142,194