Stronghold Digital Hits 1.3 EH/s Hashrate, Targets 4.0 EH/s By Q2 2022
Stronghold Digital Mining (Nasdaq: SDIG) announced on Thursday that it has exceeded 1.3 EH/s total hashrate. The computing capacity is brought by additional 14,000 miners received by the firm to date, with 8,700 of which delivered in the last five weeks.
The firm seems to be ramping up its mining fleet as it had just reported in its Q3 2021 update a hashrate of 185 PH/s from approximately 3,000 machines as of September 30, 2021. Two months after, the hashrate jumped to approximately 470 PH/s from nearly 6,000 miners.
With the addition of the new machines, the firm also announced it has started bitcoin mining operations at its second plant in Panther Creek, an 80MW reclamation and power generation facility that it acquired in November 2021.
“We expect the Scrubgrass and Panther Creek plants to support Bitcoin miners with total hash rate capacity exceeding 4.0 EH/s by the end of the second quarter in 2022,” said CEO Greg Beard.
The firm currently expects miner deliveries from MinerVa Semiconductor, which “has been delayed in meeting its miner delivery targets.” The latter advised the firm that the remaining miners under its 15,000-miner purchase can be expected by end of March 2022.
The blockchain company also announced that it has purchased additional 9,080 miners, pushing its expected total hashrate to 5.2 EH/s pending installation of all purchase machines.
Stronghold Digital last traded at $12.59 on the Nasdaq.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
