2024

Bitcoin

Champion

Gains

In a significant update from Stronghold Digital Mining, Inc. (NASDAQ: SDIG), the company reveals a prosperous March 2024, with 179 Bitcoins mined and an energy revenue approximately equating to one more Bitcoin. This represents an uptick of 4% from February, totaling an effective production of 180 Bitcoin-equivalents. Revenue for March soared by 37% and 94% against February 2024 and March 2023, respectively, primarily fueled by a rise in hash price to $0.109 per TH/s per day. The increase was partly due to a 35.8% hike in Bitcoin price, despite a slight decrease in transaction fees and a 4.3% growth in network hash rate. The average hash rate also improved to 3.6 EH/s, marking a substantial year-over-year increase of 62.6%, according to <a href="https://www.einnews.com/pr_news/702283213/stronghold-provides-march-2024-bitcoin-mining-and-operational-update" rel="noopener noreferrer nofollow">Einnews</a>.
In an operational pivot, Stronghold opted to shut down its Scrubgrass Plant, choosing to import <a href="https://ultramining.com/news/en/minnesota-man-faces-accusations-of-electricity-theft-for-bitcoin-mining/" rel="noopener noreferrer nofollow">electricity</a> under a pre-existing agreement with Champion Energy Services, LLC, due to persistently low power prices. This decision underscores Stronghold's agility in navigating the volatile energy market to maintain its mining efficiency.
Stronghold stands out as a vertically integrated Bitcoin mining entity, emphasizing eco-friendly operations. The company operates the Scrubgrass and Panther Creek plants in Pennsylvania, which are notable for their low-cost and environmentally beneficial coal refuse power generation capabilities.&nbsp;

Stronghold Energizes Bitcoin Mining with Significant March Gains

Ultramining_Eng

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