Stronghold Digital Mining Reports Net Loss of $46.7 Million for Q1 2023
Q1 2023 Revenue Totals $17.3 Million for Stronghold Digital Mining
By USInMinutes
Published - Aug 04, 2023, 03:02 AM ET
Last Updated - Aug 04, 2023, 03:02 AM EDT
Stronghold Digital Mining, Inc.(SDIG) released its unaudited financial res ults for the first quarter of 2023, revealing a net loss of $46.7 million. Despite the challenging financial performance, the company generated revenues of $17.3 million during the same period. Let's delve into the details of the financial report and the factors contributing to the results.
Financial Report Overview
Net Income/Loss
Stronghold Digital Mining, Inc. reported a significant net loss of $46.7 million for the three months ended March 31, 2023. This loss can be attributed to various factors, including operational expenses and non-cash expenses, which will be discussed further in the report.