Bitcoin Mining Updates
Stronghold mined 193 Bitcoins in November 2023, generating approximately $700,000 in energy revenue, which is approximately 19 Bitcoins higher than the average Bitcoin price for the month. This is equivalent to approximately 212 bitcoin equivalent production in November 2023, an increase of approximately 4% month-over-month, compared to approximately 203 bitcoin equivalent production in October 2023, including 198 bitcoins and $100,000 in energy revenue, or the price of bitcoin for the month based on the average production of an additional 5 bitcoins.
The company generated an estimated $7.2 million in revenue in November, its highest monthly revenue in 2023. Driving factors were attractive electricity prices at the Scrubgrass facility, resulting in the second highest month of energy revenue this year, as well as improved bitcoin hash prices including transaction fees/block subsidies, which averaged 13.8% in November compared to 2.5% in October, and a slight improvement in bitcoin mining utilization after the company joined the Frontier managed services agreement in October 2023.
Fortress Business Strategy Overview and Carbon Capture Group
On December 12, Fortress will host a Business Strategy Overview and Carbon Capture panel event on the Nasdaq Market website. The event will include a management overview of the Company’s business strategy and a panel discussion with industry experts on carbon capture initiatives.
Pre-registration is required for the in-person event and space is limited. Analysts and institutional investors interested in attending should contact Stronghold’s Investor Relations team for further details and instructions. The demonstration is expected to begin at 12:30 p.m. ET and the event is expected to conclude at 4:00 p.m. ET. Additional materials and information will be provided closer to the event date.
Webcast Registration
Investors and other interested parties may register for the event and webcast here and on Stronghold’s Investor Relations website. A replay of the webcast will be available shortly after the event.
