Stronghold Digital Mining, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Company Overview: Stronghold is a vertically integrated, environmentally beneficial Bitcoin miner with operations centered on reclaiming toxic coal waste in Pennsylvania.
  • Environmental Impact: Reclaimed 265,000 tons of coal refuse in Q4 2021, using coal-refuse-to-energy plants that also improve local environmental conditions.
  • Current Mining Capacity: 2.3 EH/s operational hash rate, with up to 5.5 EH/s contracted. Excluding MinerVa deliveries, expected capacity stands at 4.3 EH/s.
  • Plant Operations: Two facilities: Scrubgrass and Panther Creek. Panther Creek is operating efficiently, while Scrubgrass requires ~$5M in upgrades due to higher maintenance needs.
  • Full-Year & Q4 2021 Financials:
    • Q4 2021 revenue: $17 million
    • Adjusted EBITDA: $0.3 million
    • Ended 2021 with 182 Bitcoin on the balance sheet
    • Liquidity at year-end: $75 million (including $31.8M in cash, $7.7M in BTC, and ~$35M in undrawn financing)
    • Current liquidity: ~$30M in cash, 344 BTC, $18M in undrawn financing

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Operator: Good evening and welcome to the Stronghold Digital Mining's Conference Call for the Fourth Quarter and Full Year ended December 31st, 2021. My name is Jonathan and I will be your operator this afternoon. Before this call, Stronghold issued its results for the fourth-quarter and full-year 2021 in a press release, which is available in the Investors section of the company's website at www. strongholddigitalmining.com. You can find the link to it in the Investors section at the top of the homepage. Joining us on today's call are Stronghold's Co-chairman and CEO Gregory Beard, CFO Ricardo Larroudé, and the company's outside Investor Relations Advisor, Jeff Grampp, with Gateway Investor Relations. Following the remarks, we will open the call for your questions. Now, I'd like to turn the call over to Mr. Grampp for some introductory comments. Jeff Grampp: Thank you. Good evening, everyone and welcome. Today's slide presentation, along with our earnings release and financial disclosures were posted to our website earlier today and can be accessed on our website at strongholddigitalmining.com. Some statements we are making today, may be considered forward-looking statements under securities laws and involve a number of risks and uncertainties. As a result, we caution you, that there are a number of factors, many of which are beyond our control, which could cause actual results and events to differ materially, from those described in the forward-looking statements. For more

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