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 |
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of realized gain (loss) from remeasurement of crypto asset, classified as operating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of unrealized gain (loss) from remeasurement of crypto asset, classified as operating. Excludes crypto asset held for platform user. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fuel costs incurred that are directly related to goods produced and sold and services rendered during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, excluding oil and gas property and timber property. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount of gain (loss) on sale or disposal of other assets. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of impairment loss resulting from write-down of assets, excluding financial assets and goodwill, lacking physical substance and having a projected indefinite period of benefit to fair value. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount recognized as an operating expense or loss during the period to reduce the carrying amount of a project that has been impaired but not abandoned. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as nonoperating. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Other costs incurred during the reporting period related to other revenue generating activities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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