Delaware
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(State or other jurisdiction of incorporation)
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001-40931
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86-2759890
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(Commission File Number)
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(IRS Employer Identification No.)
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595 Madison Avenue, 28th Floor
New York, New York
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10022
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(Address of principal executive offices)
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(Zip Code)
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☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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||
Class A common stock, par value $0.0001 per share
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SDIG
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|
Item 2.02 |
Results of Operations and Financial Condition.
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Item 7.01 |
Regulation FD Disclosure.
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Item 8.01 |
Other Events.
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(in millions)
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Three months ended
December 31, 2022
|
|||
Net Loss (GAAP)
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$
|
(48.0
|
)
|
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Plus:
|
||||
Interest expense
|
3.1
|
|||
Depreciation and amortization
|
10.0
|
|||
Impairment on miner assets
|
24.3
|
|||
Impairments on equipment deposits
|
5.1
|
|||
Impairments on digital currencies
|
0.2
|
|||
Loss on debt extinguishment
|
7.7
|
|||
Stock-based compensation
|
4.8
|
|||
Non-recurring expenses
|
0.5
|
|||
Loss on disposal of fixed assets
|
0.3
|
|||
Realized gain on sale of digital currencies
|
(0.2
|
)
|
||
Changes in fair value of warrant liabilities
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(2.9
|
)
|
||
Adjusted EBITDA (Non-GAAP)
|
$
|
4.8
|
Item 9.01 |
Financial Statements and Exhibits.
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(d) |
Exhibits.
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Exhibit Number
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Description
|
|
Press release dated March 22, 2023
|
||
104
|
Cover Page Interactive Data File (embedded within the Inline XBRL document).
|
STRONGHOLD DIGITAL MINING, INC.
|
||
Date: March 22, 2023
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By:
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/s/ Gregory A. Beard
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Name:
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Gregory A. Beard
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Title:
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Chief Executive Officer and Co-Chairman
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(in millions)
|
Three months ended
December 31, 2022
|
|||
Net Loss (GAAP)
|
$
|
(48.0
|
)
|
|
Plus:
|
||||
Interest expense
|
3.1
|
|||
Depreciation and amortization
|
10.0
|
|||
Impairment on miner assets
|
24.3
|
|||
Impairments on equipment deposits
|
5.1
|
|||
Impairments on digital currencies
|
0.2
|
|||
Loss on debt extinguishment
|
7.7
|
|||
Stock-based compensation
|
4.8
|
|||
Non-recurring expenses
|
0.5
|
|||
Loss on disposal of fixed assets
|
0.3
|
|||
Realized gain on sale of digital currencies
|
(0.2
|
)
|
||
Changes in fair value of warrant liabilities
|
(2.9
|
)
|
||
Adjusted EBITDA (Non-GAAP)
|
$
|
4.8
|