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Stronghold Digital Mining Inc (SDIG) stock nosedived in the after-market. Here’s why

On 29 March 2022, Stronghold Digital Mining, Inc (SDIG) published the results for the last quarter and the fiscal year 2021. Accordingly, the stock took a dive in the after-market. Before the closing of the last trading session, SDIG stock was trading at $10.25 and remained bullish in the session. The stock gained 6.22% from the previously traded session. On the last check, SDIG stock nosedived in the after-market, losing 32.49% to $6.92 per share. The firm also filed forms 10-K and 8-K with the SEC on 29 March 2022. Form 10-K refers to the annual report of the company while form 8-K refers to the current report.


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SDIG Financials

On 29 March 2022, SDIG published the results for the last quarter and the fiscal year 2021. The company’s revenue grew massively to $17.0 million in Q4 of FY21 versus $0.93 million in Q4 of FY2020. The revenue of SDIG in FY2021 was $30.9 million against $4.1 million in FY2020.

SDIG had a total loss of $17.4 million in the last quarter of the fiscal year 2021 against the total income of $0.17 million in the last quarter of FY2020. Moreover, the total loss of the company in the fiscal year 2021 was $27.2 million versus $0.14 million in FY2020.

Moreover, SDIG had a loss of $0.52 per stock during the Q4 of FY2021. Besides, SDIG had a loss of $2.03 per stock in FY2021.

CEO Remarks

The CEO of SDIG, Greg Beard, commented that they fulfilled their IPO fully intent on turning into the main Bitcoin excavator, conveying low expenses, and positively affecting the climate and the networks in which they work. He further added that they stay undaunted in their attention on making investors worth and utilizing their minimal expense power resources and their exceptionally experienced administration group to keep constructing an extraordinary organization.

News

Earlier in February 2022, the firm answered a request from a gathering of United States Senators and individuals from Congress which subtleties its obligation to cultivate a positive natural effect and the organization’s past and progressing recovery and remediation endeavors.

About SDIG

Stronghold Digital Mining Inc takes part in crypto resource mining. The firm spotlights mining Bitcoin. SDIG is incorporated with crypto resource mining organizations and keeps an armada of cryptographic currency mining gear and framework. The firm has a market capitalization of $494.36 million and has its headquarters in New York, United States of America (USA).

 

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