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Stronghold Digital Mining, Inc. (NASDAQ:SDIG) ("Stronghold" or the "Company") today provided the following updates regarding its operations and financial performance:
Bitcoin Mining Update
Stronghold mined 82 Bitcoin in May 2024 and the Company generated an estimated $5.2 million of revenue during May, a decrease of 46% compared to April 2024. The primary driver of the decline was due to the first full month of post-halving operations. Average hash price in May was $0.052 per TH/s per day compared to $0.095 in April, largely due to the halving of Bitcoin block awards from 6.250 to 3.125, a slight decline in Bitcoin price of 0.8%, lower transaction fees averaging 7.4% in May compared to 25.3% in April, and partially offset by a decline in network hash rate of 1.2%.
Posted In: SDIG
