0001628280-23-017765 | 10-Q | XBRL Viewer | Stronghold Digital Mining INC

PRIVATE PLACEMENTS

NOTE 11 – REDEEMABLE COMMON STOCK

Class V common stock represented 38.8% and 45.1% ownership of Stronghold LLC, as of March 31, 2023, and December 31, 2022, respectively, granting the owners of Q Power economic rights and, as a holder, one vote on all matters to be voted on by the Company's stockholders generally, and a redemption right into Class A shares. Refer to Note 12 – Noncontrolling Interests for more details.

The Company classifies its Class V common stock as redeemable common stock in the accompanying condensed consolidated balance sheets as, pursuant to the Stronghold LLC Agreement, the redemption rights of each unit held by Q Power for either shares of Class A common stock or an equivalent amount of cash is not solely within the Company’s control. This is due to the holders of the Class V common stock collectively owning a majority of the voting stock of the Company, which allows the holders of Class V common stock to elect the members of the Board, including those directors who determine whether to make a cash payment upon a Stronghold LLC unit holder’s exercise of its redemption rights. Redeemable common stock is recorded at the greater of the book value or redemption amount from the date of the issuance, April 1, 2021, and the reporting date as of March 31, 2023.

The Company recorded redeemable common stock as presented in the table below.


	Common - Class V
	Shares	Amount
Balance - December 31, 2022	26,057,600	$	11,754,587
Net loss attributable to noncontrolling interest	—	(18,119,131)
Maximum redemption right valuation	—	21,863,763
Balance - March 31, 2023	26,057,600	$	15,499,219

NOTE 15 – PRIVATE PLACEMENTS

May 2022 Private Placement

On May 15, 2022, the Company entered into a note and warrant purchase agreement (the “Purchase Agreement”), by and among the Company and the purchasers thereto (collectively, the “May Purchasers”), whereby the Company agreed to issue and sell to the May Purchasers, and the May Purchasers agreed to purchase from the Company, (i) $33,750,000 aggregate principal amount of 10.00% unsecured convertible promissory notes (the “May 2022 Notes”) and (ii) warrants (the “May 2022 Warrants”) representing the right to purchase up to 6,318,000 shares of Class A common stock, of the Company with an exercise price per share equal to $2.50, on the terms and subject to the conditions set forth in the Purchase Agreement (collectively, the “2022 Private Placement”). The Purchase Agreement contained representations and warranties by the Company and the May Purchasers that are customary for transactions of this type. The May 2022 Notes and the May 2022 Warrants were sold for aggregate consideration of approximately $27.0 million.

In connection with the 2022 Private Placement, the Company undertook to negotiate with the May Purchasers and to file a certificate of designation with the State of Delaware, following the closing of the 2022 Private Placement, for the terms of a new series of preferred stock.

In connection with the 2022 Private Placement, the May 2022 Warrants were issued pursuant to the Warrant Agreement. The May 2022 Warrants are subject to mandatory cashless exercise provisions and have certain anti-dilution provisions. The May 2022 Warrants are exercisable for a five-year period from the closing.

The issuance of the May 2022 Notes was within the scope of ASC 480-10 and, therefore, was initially measured at fair value (consistent with ASC 480-10-30-7). Additionally, under the guidance provided by ASC 815-40-15-7, the Company determined that the May 2022 Warrants were indexed to the Company's stock. As a result, the May 2022 Warrants were initially recorded at their fair value within equity. The May 2022 Notes were valued using the gross yield method under the income approach. As of the issuance date of May 15, 2022, a calibration analysis was performed by back solving the implied yield associated with the May 2022 Notes, such that the total value of the May 2022 Notes and the May 2022 Warrants equaled the purchase amount. The calibrated yield was then rolled forward for changes to the risk-free rate and option-adjusted spreads to the August 16, 2022, valuation date to value the May 2022 Notes.

On August 16, 2022, the Company entered into an amendment to the Purchase Agreement, by and among the Company and the May Purchasers, whereby the Company agreed to amend the Purchase Agreement, such that $11.25 million of the outstanding principal was exchanged for the May Purchaser's execution of an amended and restated warrant agreement pursuant to which the strike price of the 6,318,000 May 2022 Warrants was reduced from $2.50 to $0.01. After giving effect to the principal reduction and amended and restated warrants, the Company was to continue to make subsequent monthly, payments to the May Purchasers on the fifteenth (15th) day of each of November 2022, December 2022, January 2023, and February 2023. The Company was able to elect to pay each such payment (A) in cash or (B) in shares of

common stock, in each case, at a twenty percent (20%) discount to the average of the daily VWAPs for each of the twenty (20) consecutive trading days preceding the payment date.

Series C Convertible Preferred Stock

On December 30, 2022, the Company entered into an exchange agreement (the “Exchange Agreement”) with the holders (the “Purchasers”) of the May 2022 Notes (as defined above) whereby the May 2022 Notes were to be exchanged for shares of a new series of convertible preferred stock, par value $0.0001 per share (the “Series C Preferred Stock”) that, among other things, will convert into shares of Class A common stock or pre-funded warrants that may be exercised for shares of Class A common stock, at a conversion rate equal to the stated value of $1,000 per share plus cash in lieu of fractional shares, divided by a conversion price of $0.40 per share of Class A common stock. Upon the fifth anniversary of the Series C Preferred Stock, each outstanding share of Series C Preferred Stock will automatically and immediately convert into Class A common stock or pre-funded warrants. In the event of a liquidation, the Purchasers shall be entitled to receive an amount per share of Series C Preferred Stock equal to its stated value of $1,000 per share. The Exchange Agreement closed on February 20, 2023.

Pursuant to the Exchange Agreement, the Purchasers received an aggregate 23,102 shares of the Series C Preferred Stock, in exchange for the cancellation of an aggregate $17,893,750 of principal and accrued interest, representing all of the amounts owed to the Purchasers under the May 2022 Notes. On February 20, 2023, one Purchaser converted 1,530 shares of the Series C Preferred Stock to 3,825,000 shares of the Company’s Class A common stock. The rights and preferences of the Series C Preferred Stock are designated in a certificate of designation, and the Company provided certain registration rights to the Purchasers.

September 2022 Private Placement

On September 13, 2022, the Company entered into Securities Purchase Agreements with Armistice and Greg Beard, the Company's chairman and chief executive officer (together with Armistice, the “September 2022 Private Placement Purchasers”), for the purchase and sale of 2,274,350 and 602,409 shares, respectively, of Class A common stock, par value $0.0001 per share at a purchase price of $1.60 and $1.66, respectively, and warrants to purchase an aggregate of 5,602,409 shares of Class A common stock, at an initial exercise price of $1.75 per share (subject to certain adjustments). Subject to certain ownership limitations, such warrants are exercisable upon issuance and will be exercisable for five and a half years commencing upon the date of issuance. Armistice also purchased the pre-funded warrants to purchase 2,725,650 shares of Class A common stock at a purchase price of $1.60 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.0001 per warrant share. The transaction closed on September 19, 2022. The gross proceeds from the sale of such securities, before deducting offering expenses, was approximately $9.0 million.

The warrant liabilities are subject to remeasurement at each balance sheet date, and any change in fair value is recognized as "changes in fair value of warrant liabilities" in the consolidated statements of operations. The fair value of the warrant liabilities was estimated as of March 31, 2023, using a Black-Scholes model with significant inputs as follows:


	March 31, 2023
Expected volatility	132.1		%
Expected life (in years)	5.50
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	2,846,548

April 2023 Private Placement

On April 20, 2023, the Company entered into Securities Purchase Agreements with an institutional investor and the Company’s chairman and chief executive officer, Greg Beard, for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $1.00 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $1.10 per share (subject to certain adjustments in accordance with the terms thereof). Pursuant to the Securities Purchase Agreements, the institutional investor invested $9.0 million in exchange for an aggregate of 9,000,000 shares of Class A common stock and pre-funded warrants, and Mr. Beard invested $1.0 million in exchange for an aggregate of 1,000,000 shares of Class A common stock, in each case at a price of $1.00 per share equivalent. Further, the institutional investor and Mr. Beard received warrants exercisable for 9,000,000 shares and 1,000,000 shares, respectively, of Class A common stock.

Subject to certain ownership limitations, the warrants are exercisable six months after issuance. The warrants are exercisable for five and a half years commencing upon the date of issuance, subject to certain ownership limitations. The pre-funded warrants have an exercise price of $0.0001 per warrant share and are immediately exercisable, subject to certain ownership limitations. The gross proceeds from the April 2023 Private Placement, before deducting offering expenses, was approximately $10.0 million. The April 2023 Private Placement closed on April 21, 2023.

Additionally, as previously disclosed, the Company entered into Securities Purchase Agreements with the September 2022 Private Placement Purchasers for, in part, warrants to purchase an aggregate of 5,602,409 shares of Class A common stock, at an exercise price of $1.75 per share. On April 20, 2023, the Company and the September 2022 Private Placement Purchasers entered into amendments to, among other things, adjust the strike price of the warrants from $1.75 per share to $1.01 per share.

The entire disclosure for shareholders' equity comprised of portions attributable to the parent entity and noncontrolling interest, including other comprehensive income. Includes, but is not limited to, balances of common stock, preferred stock, additional paid-in capital, other capital and retained earnings, accumulated balance for each classification of other comprehensive income and amount of comprehensive income.

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SEGMENT REPORTING

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

SEGMENT REPORTING

NOTE 16 – SEGMENT REPORTING

Operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly in deciding how to allocate resources and assess performance. The Company's CEO is the chief operating decision maker. The Company functions in two operating segments, Energy Operations and Cryptocurrency Operations, about which separate financial information is presented below.


	Three Months Ended
	March 31, 2023		March 31, 2022
OPERATING REVENUES:
Energy Operations	$	3,642,921	$	11,109,581
Cryptocurrency Operations	13,623,294		18,272,069
Total operating revenues	$	17,266,215	$	29,381,650
NET OPERATING LOSS:
Energy Operations	$	(10,734,947)	$	(12,097,125)
Cryptocurrency Operations	(3,881,166)		(16,834,089)
Total net operating loss	$	(14,616,113)	$	(28,931,214)
OTHER EXPENSE [A]	(32,044,449)		(3,375,202)
NET LOSS	$	(46,660,562)	$	(32,306,416)

DEPRECIATION AND AMORTIZATION:
Energy Operations	$	(1,332,873)	$	(1,256,101)
Cryptocurrency Operations	(6,389,968)		(11,063,480)
Total depreciation and amortization	$	(7,722,841)	$	(12,319,581)
INTEREST EXPENSE:
Energy Operations	$	(159,287)	$	(31,522)
Cryptocurrency Operations	(2,224,626)		(2,879,931)
Total interest expense	$	(2,383,913)	$	(2,911,453)

[A] The Company does not allocate other income (expense) for segment reporting purposes. Amount is shown as a reconciling item between net operating income (loss) and consolidated net income (loss). Refer to the accompanying condensed consolidated statements of operations for further details.

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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INVENTORY (Tables)

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory consisted of the following components as of March 31, 2023, and December 31, 2022:


	March 31, 2023		December 31, 2022
Waste coal	$	4,267,308	$	4,147,369
Fuel oil	60,913		143,592
Limestone	372,611		180,696
Inventory	$	4,700,832	$	4,471,657

NONCONTROLLING INTEREST - Redeemable Common Stock Adjustments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Increase (Decrease) in Partners' Capital [Roll Forward]
Redeemable common stock, beginning balance	$ 11,754,587
Net loss attributable to noncontrolling interest	(18,119,131)	$ (18,897,638)
Maximum redemption right valuation and adjustments	21,863,763
Redeemable common stock, ending balance	15,499,219
Retained Earnings
Increase (Decrease) in Partners' Capital [Roll Forward]
Net loss attributable to noncontrolling interest	$ (18,119,131)	$ (18,125,838)
Common Stock - Class V
Noncontrolling Interest [Line Items]
Class V common stock, outstanding (in shares)	26,057,600		26,057,600
Fair valuation price (in USD per share)	$ 0.59		$ 0.45
Increase (Decrease) in Partners' Capital [Roll Forward]
Redeemable common stock, beginning balance	$ 11,754,587
Maximum redemption right valuation and adjustments	21,863,763
Redeemable common stock, ending balance	$ 15,499,219

Carrying amount, attributable to parent, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

SUPPLEMENTAL CASH AND NON-CASH INFORMATION (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]
Income tax payments	$ 0	$ 0
Interest payments	2,222,350	837,174
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Equipment financed with debt	0	30,750,688
Purchases of property, plant and equipment included in accounts payable or accrued liabilities	3,716	0
Reclassifications from deposits to property, plant and equipment	4,658,970	0
Warrants – WhiteHawk	0	1,150,000
Extinguishment of convertible note	16,812,500	0
Extinguishment of accrued interest	655,500	0
Issuance of Series C convertible preferred stock, net of issuance costs	45,386,944	0
Warrants – B&M	1,739,882	0
Return of transformers to settle outstanding payable	6,007,500	0
Issuance of B&M Note	3,500,000	0
Elimination of accounts payable	$ 11,426,720	$ 0

SEGMENT REPORTING - Results from Operating Segments (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Segment Reporting Information [Line Items]
OPERATING REVENUES:	$ 17,266,215	$ 29,381,650
NET OPERATING LOSS:	(14,616,113)	(28,931,214)
NET LOSS attributable to Class A common shareholders:	(32,044,449)	(3,375,202)
NET LOSS	(46,660,562)	(32,306,416)
DEPRECIATION AND AMORTIZATION:	(7,722,841)	(12,319,581)
Interest expense	(2,383,913)	(2,911,453)
Energy Operations
Segment Reporting Information [Line Items]
OPERATING REVENUES:	3,642,921	11,109,581
NET OPERATING LOSS:	(10,734,947)	(12,097,125)
DEPRECIATION AND AMORTIZATION:	(1,332,873)	(1,256,101)
Interest expense	(159,287)	(31,522)
Cryptocurrency Operations
Segment Reporting Information [Line Items]
OPERATING REVENUES:	13,623,294	18,272,069
NET OPERATING LOSS:	(3,881,166)	(16,834,089)
DEPRECIATION AND AMORTIZATION:	(6,389,968)	(11,063,480)
Interest expense	$ (2,224,626)	$ (2,879,931)

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

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DEBT (Tables)

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

Schedule of Debt

Total debt consisted of the following as of March 31, 2023, and December 31, 2022:


	March 31, 2023		December 31, 2022
$499,520 loan, with interest at 2.49%, due December 2023.	$	97,779	$	124,023
$499,895 loan, with interest at 2.95%, due July 2023.	88,694		121,470
$517,465 loan, with interest at 4.78%, due October 2024.	296,898		339,428
$585,476 loan, with interest at 4.99%, due November 2025.	472,196		513,334
$431,825 loan, with interest at 7.60%, due April 2024.	99,610		121,460
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025.	54,370,570		56,114,249
$33,750,000 Convertible Note, with interest at 10.00%, due May 2024.	—		16,812,500
$92,381 loan, with interest at 1.49%, due April 2026.	71,903		79,249
$64,136 loan, with interest at 11.85%, due May 2024.	33,018		39,056
$196,909 loan, with interest at 6.49%, due May 2024.	172,684		184,895
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025.	3,500,000		—
Total outstanding borrowings	$	59,203,352	$	74,449,664

Current portion of long-term debt, net of discounts and issuance fees	995,145		17,422,546
Long-term debt, net of discounts and issuance fees	$	58,208,207	$	57,027,118

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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Schedule of Accrued Liabilities

ACCRUED LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

Accrued liabilities consisted of the following as of March 31, 2023, and December 31, 2022:


	March 31, 2023		December 31, 2022
Accrued legal and professional fees	$	886,370	$	1,439,544
Accrued interest	2,992		1,343,085
Accrued sales and use tax	5,430,197		5,150,659
Other	793,089		959,960
Accrued liabilities	$	7,112,648	$	8,893,248

SUPPLEMENTAL CASH AND NON-CASH INFORMATION

3 Months Ended

Mar. 31, 2023

Additional Cash Flow Elements and Supplemental Cash Flow Information [Abstract]

SUPPLEMENTAL CASH AND NON-CASH INFORMATION

NOTE 19 – SUPPLEMENTAL CASH AND NON-CASH INFORMATION

Supplemental disclosures of cash flow information for the three months ended March 31, 2023, and 2022, were as follows:


	March 31, 2023		March 31, 2022
Income tax payments	$	—	$	—
Interest payments	$	2,222,350	$	837,174

Supplementary non-cash investing and financing activities consisted of the following for the three months ended March 31, 2023, and 2022:


	March 31, 2023		March 31, 2022
Equipment financed with debt	$	—	$	30,750,688
Purchases of property, plant and equipment included in accounts payable or accrued liabilities	3,716		—
Reclassifications from deposits to property, plant and equipment	4,658,970		—
Issued as part of financing:
Warrants – WhiteHawk	—		1,150,000
Convertible Note Exchange for Series C Convertible Preferred Stock:
Extinguishment of convertible note	16,812,500		—
Extinguishment of accrued interest	655,500		—
Issuance of Series C convertible preferred stock, net of issuance costs	45,386,944		—
B&M Settlement:
Warrants – B&M	1,739,882		—
Return of transformers to settle outstanding payable	6,007,500		—
Issuance of B&M Note	3,500,000		—
Elimination of accounts payable	11,426,720		—

BASIS OF PRESENTATION - Reclassifications (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenues	$ 17,266,215				$ 29,381,650
Fuel expenses	7,414,014	$ 3,678,210	$ 10,084,466	$ 9,188,165	10,019,985
Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fuel expenses		2,348,457	8,466,588	8,626,671	9,338,394
Revision of Prior Period, Reclassification, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Fuel expenses		1,329,753	1,617,878	561,494	681,591
Energy
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenues	$ 2,730,986	15,577,441	13,071,894	7,691,226	9,044,392
Energy \| Previously Reported
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenues		14,247,688	11,454,016	7,129,732	8,362,801
Energy \| Revision of Prior Period, Reclassification, Adjustment
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating revenues		$ 1,329,753	$ 1,617,878	$ 561,494	$ 681,591

Goodwill and Intangible Assets Disclosure [Abstract]

DIGITAL CURRENCIES (Tables)

3 Months Ended

Mar. 31, 2023

Changes in Digital Currencies

As of March 31, 2023, the Company held an aggregate amount of $672,852 in digital currencies comprised of unrestricted Bitcoin. Changes in digital currencies consisted of the following for the three months ended March 31, 2023, and 2022:


	March 31, 2023		March 31, 2022
Digital currencies at beginning of period	$	109,827	$	10,417,865
Additions of digital currencies	12,921,075		18,204,193
Realized gain on sale of digital currencies	326,768		751,110
Impairment losses	(71,477)		(2,506,172)
Proceeds from sale of digital currencies	(12,613,341)		(12,998,410)
Digital currencies at end of period	$	672,852	$	13,868,586

EARNINGS (LOSS) PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Earnings (Loss) Per Share, Basic and Diluted

The following table sets forth reconciliations of the numerators and denominators used to compute basic and diluted net loss per share of Class A common stock for the three months ended March 31, 2023, and 2022.


	Three Months Ended
	March 31, 2023		March 31, 2022
Numerator:
Net loss	$	(46,660,562)	$	(32,306,416)
Less: net loss attributable to noncontrolling interest	(18,119,131)		(18,897,638)
Net loss attributable to Stronghold Digital Mining, Inc.	$	(28,541,431)	$	(13,408,778)
Denominator:
Weighted average number of Class A common shares outstanding	43,756,137		20,206,103
Basic net loss per share	$	(0.65)	$	(0.66)
Diluted net loss per share	$	(0.65)	$	(0.66)

NON-CONTROLLING INTEREST (Tables)

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

Schedule of Noncontrolling Ownership Interest

The following summarizes the redeemable common stock adjustments pertaining to the noncontrolling interest as of and for the three months ended March 31, 2023:


	Class V Common Stock Outstanding	Fair Value Price		Temporary Equity Adjustments
Balance - December 31, 2022	26,057,600	$	0.45	$	11,754,587
Net loss for the three months ended March 31, 2023				(18,119,131)
Adjustment of temporary equity to redemption amount (1)				21,863,763
Balance - March 31, 2023	26,057,600	$	0.59	$	15,499,219

(1) Temporary equity adjustment based on Class V common stock outstanding at fair value price at each quarter end, using a 10-day variable weighted average price ("VWAP") of trading dates including the closing date.

NONCONTROLLING INTEREST

3 Months Ended

Mar. 31, 2023

Noncontrolling Interest [Abstract]

NONCONTROLLING INTEREST

NOTE 12 – NONCONTROLLING INTERESTS

The Company is the sole managing member of Stronghold LLC and, as a result, consolidates the financial results of Stronghold LLC and reports a noncontrolling interest representing the common units of Stronghold LLC held by Q Power. Changes in the Company's ownership interest in Stronghold LLC, while the Company retains its controlling interest, are accounted for as redeemable common stock transactions. As such, future redemptions or direct exchanges of common units of Stronghold LLC by the continuing equity owners will result in changes to the amount recorded as noncontrolling interest. Refer to Note 11 – Redeemable Common Stock which describes the redemption rights of the noncontrolling interest.

The following summarizes the redeemable common stock adjustments pertaining to the noncontrolling interest as of and for the three months ended March 31, 2023:


	Class V Common Stock Outstanding	Fair Value Price		Temporary Equity Adjustments
Balance - December 31, 2022	26,057,600	$	0.45	$	11,754,587
Net loss for the three months ended March 31, 2023				(18,119,131)
Adjustment of temporary equity to redemption amount (1)				21,863,763
Balance - March 31, 2023	26,057,600	$	0.59	$	15,499,219

(1) Temporary equity adjustment based on Class V common stock outstanding at fair value price at each quarter end, using a 10-day variable weighted average price ("VWAP") of trading dates including the closing date.

CONCENTRATIONS (Details) - USD ($)		3 Months Ended
CONCENTRATIONS (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Concentration Risk [Line Items]
Accounts receivable	$ 4,742,092	$ 4,742,092		$ 10,837,126
Change in value of accounts receivable within general and administrative expenses		(4,959,865)	$ (410,525)
Customized Energy Solutions, Ltd
Concentration Risk [Line Items]
Accounts receivable	$ 3,700,000	3,700,000
PJM Interconnection, LLC
Concentration Risk [Line Items]
Change in value of accounts receivable within general and administrative expenses		$ (1,002,750)
Revenue \| Customized Energy Solutions, Ltd \| Customer Concentration Risk \| Energy Operations
Concentration Risk [Line Items]
Concentration risk, percentage		100.00%
Accounts receivable \| Customized Energy Solutions, Ltd \| Customer Concentration Risk
Concentration Risk [Line Items]
Concentration risk, percentage	100.00%
Purchased Coal \| Related Party Concentration Risk \| Two Related Parties
Concentration Risk [Line Items]
Concentration risk, percentage		19.00%	13.00%

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2023	Dec. 31, 2022
ASSETS:
Cash and cash equivalents	$ 6,353,973	$ 13,296,703
Digital currencies	672,852	109,827
Accounts receivable	4,742,092	10,837,126
Inventory	4,700,832	4,471,657
Prepaid insurance	3,541,898	4,877,935
Due from related parties	74,107	73,122
Other current assets	1,354,955	1,975,300
Total current assets	21,440,709	35,641,670
Equipment deposits	5,422,338	10,081,307
Property, plant and equipment, net	158,366,684	167,204,681
Operating lease right-of-use assets	1,581,400	1,719,037
Land	1,748,440	1,748,440
Road bond	211,958	211,958
Security deposits	348,888	348,888
TOTAL ASSETS	189,120,417	216,955,981
LIABILITIES:
Accounts payable	14,847,939	27,540,317
Accrued liabilities	7,112,648	8,893,248
Financed insurance premiums	2,806,538	4,587,935
Current portion of long-term debt, net of discounts and issuance fees	995,145	17,422,546
Current portion of operating lease liabilities	613,657	593,063
Due to related parties	1,612,515	1,375,049
Total current liabilities	27,988,442	60,412,158
Asset retirement obligation	1,036,575	1,023,524
Warrant liabilities	2,846,548	2,131,959
Long-term debt, net of discounts and issuance fees	58,208,207	57,027,118
Long-term operating lease liabilities	1,067,654	1,230,001
Contract liabilities	277,397	351,490
Total liabilities	91,424,823	122,176,250
Commitments and Contingencies
REDEEMABLE COMMON STOCK:
Redeemable common stock	15,499,219	11,754,587
STOCKHOLDERS’ EQUITY (DEFICIT):
Common Stock – Class A; $0.0001 par value; 685,440,000 shares authorized; 41,046,186 and 31,710,217 shares issued and outstanding as of March 31, 2023, and December 31, 2022, respectively.	4,105	3,171
Series C convertible preferred stock; $0.0001 par value; 23,102 shares authorized; 21,572 and 0 shares issued and outstanding as of March 31, 2023, and December 31, 2022, respectively.	2	0
Accumulated deficits	(290,848,496)	(240,443,302)
Additional paid-in capital	373,040,764	323,465,275
Total stockholders' equity	82,196,375	83,025,144
Total redeemable common stock and stockholders' equity	97,695,594	94,779,731
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' EQUITY	189,120,417	216,955,981
Common Stock - Class V
REDEEMABLE COMMON STOCK:
Redeemable common stock	$ 15,499,219	$ 11,754,587

BASIS OF PRESENTATION (Policies)	3 Months Ended
BASIS OF PRESENTATION (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation	Certain information and footnote disclosures normally included in the annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), have been condensed or omitted. Certain reclassifications of amounts previously reported have been made to the accompanying condensed consolidated financial statements in order to conform to current presentation. Additionally, since there are no differences between net income (loss) and comprehensive income (loss), all references to comprehensive income (loss) have been excluded from the condensed consolidated financial statements.
Reclassification	ReclassificationDuring the first quarter of 2023, the Company revised its accounting policy to reclassify the presentation of imported power charges. Imported power charges are now recorded within fuel expenses, whereas they were previously netted against energy revenue. Prior periods have been reclassified to conform to the current period presentation. The reclassification increased 2022 energy revenues and fuel expenses as shown in the table below. The reclassification had no impact on net operating income (loss), earnings per share or equity.
Recently Implemented Accounting Pronouncements/Recently Issued Accounting Pronouncements	Recently Implemented Accounting Pronouncements In September 2016, the Financial Accounting Standards Board issued ASU 2016-13, Financial Instruments – Credit Losses, which adds a new impairment model, known as the current expected credit loss ("CECL") model, that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes an allowance for its estimate of expected credit losses at the initial recognition of an in-scope financial instrument and applies it to most debt instruments, trade receivables, lease receivables, financial guarantee contracts, and other loan commitments. The CECL model does not have a minimum threshold for recognition of impairment losses and entities will need to measure expected credit losses on assets that have a low risk of loss. Since the Company is a smaller reporting company, as defined by the U.S. Securities and Exchange Commission (the "SEC"), the new guidance became effective on January 1, 2023. The Company adopted ASU 2016-13 effective January 1, 2023, but the adoption of ASU 2016-13 did not have an impact on the Company's consolidated financial statements. Recently Issued Accounting Pronouncements There have been no recently issued accounting pronouncements applicable to the Company.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (46,660,562)	$ (32,306,416)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation and amortization	7,722,841	12,319,581
Accretion of asset retirement obligation	13,051	6,084
Loss on disposal of fixed assets	91,086	44,958
Change in value of accounts receivable	1,002,750	0
Amortization of debt issuance costs	34,517	881,463
Stock-based compensation	2,449,324	2,592,995
Loss on debt extinguishment	28,960,947	0
Impairments on equipment deposits	0	12,228,742
Changes in fair value of warrant liabilities	714,589	0
Changes in fair value of forward sale derivative	0	483,749
Forward sale contract prepayment	0	970,000
Other	(12,139)	0
(Increase) decrease in digital currencies:
Mining revenue	(12,921,075)	(18,204,193)
Net proceeds from sales of digital currencies	12,286,573	12,247,300
Impairments on digital currencies	71,477	2,506,172
(Increase) decrease in assets:
Accounts receivable	4,959,865	410,525
Prepaid insurance	1,336,037	1,852,595
Due from related parties	(68,436)	(864,624)
Inventory	(229,175)	(179,774)
Other assets	(296,265)	(37,242)
Increase (decrease) in liabilities:
Accounts payable	(1,390,895)	(410,917)
Due to related parties	237,466	68,647
Accrued liabilities	(1,518,296)	1,227,709
Other liabilities, including contract liabilities	(125,146)	(55,742)
NET CASH FLOWS USED IN OPERATING ACTIVITIES	(3,341,466)	(4,218,388)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(13,738)	(38,157,218)
Equipment purchase deposits - net of future commitments	0	(6,482,000)
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(13,738)	(44,639,218)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(1,836,925)	(9,290,668)
Repayments of financed insurance premiums	(1,750,874)	(1,832,149)
Proceeds from debt, net of issuance costs paid in cash	0	53,671,001
Proceeds from exercise of warrants	273	0
NET CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES	(3,587,526)	42,548,184
NET DECREASE IN CASH AND CASH EQUIVALENTS	(6,942,730)	(6,309,422)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	13,296,703	31,790,115
CASH AND CASH EQUIVALENTS - END OF PERIOD	$ 6,353,973	$ 25,480,693

REDEEMABLE COMMON STOCK - Schedule of Mezzanine Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Increase (Decrease) in Temporary Equity [Roll Forward]
NET LOSS attributable to noncontrolling interest	$ (18,119,131)	$ (18,897,638)
Maximum redemption right valuation	21,863,763
Retained Earnings
Increase (Decrease) in Temporary Equity [Roll Forward]
NET LOSS attributable to noncontrolling interest	$ (18,119,131)	$ (18,125,838)
Common Stock - Class V
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance (in shares)	26,057,600
Beginning balance	$ 11,754,587
Maximum redemption right valuation	$ 21,863,763
Ending balance (in shares)	26,057,600
Ending balance	$ 15,499,219

Carrying amount, attributable to parent and noncontrolling interests, of an entity's issued and outstanding stock which is not included within permanent equity. Temporary equity is a security with redemption features that are outside the control of the issuer, is not classified as an asset or liability in conformity with GAAP, and is not mandatorily redeemable. Includes any type of security that is redeemable at a fixed or determinable price or on a fixed or determinable date or dates, is redeemable at the option of the holder, or has conditions for redemption which are not solely within the control of the issuer. Includes stock with a put option held by an ESOP and stock redeemable by a holder only in the event of a change in control of the issuer.

+ References + Details

INVENTORY

3 Months Ended

Mar. 31, 2023

Inventory Disclosure [Abstract]

INVENTORY

NOTE 3 – INVENTORY

Inventory consisted of the following components as of March 31, 2023, and December 31, 2022:


	March 31, 2023		December 31, 2022
Waste coal	$	4,267,308	$	4,147,369
Fuel oil	60,913		143,592
Limestone	372,611		180,696
Inventory	$	4,700,832	$	4,471,657

WARRANTS - Narrative (Details) - USD ($)						3 Months Ended
WARRANTS - Narrative (Details) - USD ($)	Apr. 21, 2023	Apr. 20, 2023	Sep. 19, 2022	Aug. 16, 2022	May 15, 2022	Mar. 31, 2023	Apr. 30, 2023	Mar. 28, 2023	Dec. 31, 2022	Aug. 15, 2022
Debt Instrument [Line Items]
Warrants issued during period (in shares)					6,318,000
Common stock, par value (in USD per share)			$ 0.0001			$ 0.0001		$ 0.0001	$ 0.0001
Warrant exercise price of warrants (in USD per share)					$ 2.50
Proceeds from private placement					$ 27,000,000
Warrants issued (in shares)						3,000,000
Warrants exercised (in shares)						5,002,650
Subsequent Event
Debt Instrument [Line Items]
Common stock, par value (in USD per share)	$ 0.0001
September 2022 Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)			5,602,409
Warrant exercise price of warrants (in USD per share)			$ 1.75
September 2022 Warrants \| Greg Beard
Debt Instrument [Line Items]
Warrants issued during period (in shares)			602,409
September 2022 Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrant exercise price of warrants (in USD per share)		$ 1.01					$ 1.01
Pre-Funded Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)			2,725,650
Warrant exercise price of warrants (in USD per share)			$ 0.0001
Warrant purchase price (in USD per share)			$ 1.60
Warrants exercised (in shares)						2,725,650
Pre-Funded Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrant exercise price of warrants (in USD per share)	0.0001
April 2023 Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrant exercise price of warrants (in USD per share)	$ 1.10
April 2023 Warrants \| Subsequent Event \| Institutional Investor
Debt Instrument [Line Items]
Warrants issued during period (in shares)	9,000,000
April 2023 Warrants \| Subsequent Event \| Greg Beard
Debt Instrument [Line Items]
Warrants issued during period (in shares)	1,000,000
Note Warrant
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)				6,318,000
Share price (in USD per share)				$ 0.01						$ 2.50
Private Placement
Debt Instrument [Line Items]
Warrants issued (in shares)						2,277,000
Private Placement \| Subsequent Event
Debt Instrument [Line Items]
Sale of stock (in USD per share)	$ 1.00
Sale of stock, consideration received	$ 10,000,000
Private Placement \| Subsequent Event \| Institutional Investor
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)	9,000,000
Sale of stock (in USD per share)	$ 1.00
Sale of stock, consideration received	$ 9,000,000
Private Placement \| Subsequent Event \| Greg Beard
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)	1,000,000
Sale of stock (in USD per share)	$ 1.00
Sale of stock, consideration received	$ 1,000,000
Private Placement With Armistice Capital Master Fund Ltd.
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)			2,274,350
Sale of stock (in USD per share)			$ 1.60
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)			602,409
Sale of stock (in USD per share)			$ 1.66
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| Subsequent Event
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)		1,000,000
Sale of stock, consideration received		$ 1,000,000
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| Pre-Funded Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrants issued during period (in shares)		1,000,000
Unsecured Convertible Promissory Notes \| Unsecured Debt
Debt Instrument [Line Items]
Debt face amount				$ 11,250,000	$ 33,750,000
Interest rate					10.00%
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025. \| Loans payable
Debt Instrument [Line Items]
Warrants issued during period (in shares)								3,000,000
Warrant exercise price of warrants (in USD per share)								$ 0.0001
Debt face amount						$ 3,500,000		$ 3,500,000
Interest rate						7.50%

RELATED-PARTY TRANSACTIONS - Amounts Due to Related Parties (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Related Party Transaction [Line Items]
Due to related parties	$ 1,612,515	$ 1,375,049
Affiliated Entity \| Coal Valley Properties, LLC
Related Party Transaction [Line Items]
Due to related parties	134,452	134,452
Affiliated Entity \| Q Power LLC
Related Party Transaction [Line Items]
Due to related parties	500,000	500,000
Affiliated Entity \| Coal Valley Sales, LLC
Related Party Transaction [Line Items]
Due to related parties	0	0
Affiliated Entity \| Panther Creek Energy Services LLC
Related Party Transaction [Line Items]
Due to related parties	90,483	10,687
Affiliated Entity \| Panther Creek Fuel Services LLC
Related Party Transaction [Line Items]
Due to related parties	687	53,482
Affiliated Entity \| Northampton Generating Fuel Supply Company, Inc.
Related Party Transaction [Line Items]
Due to related parties	886,135	594,039
Affiliated Entity \| Olympus Power LLC and other subsidiaries
Related Party Transaction [Line Items]
Due to related parties	758	78,302
Affiliated Entity \| Scrubgrass Energy Services, LLC
Related Party Transaction [Line Items]
Due to related parties	0	4,087
Affiliated Entity \| Scrubgrass Fuel Services, LLC
Related Party Transaction [Line Items]
Due to related parties	$ 0	$ 0

DEBT - Narrative (Details)			3 Months Ended
DEBT - Narrative (Details)	Feb. 20, 2023 USD ($) $ / shares	Feb. 06, 2023 USD ($)	Mar. 31, 2023 USD ($) $ / shares	Mar. 31, 2022 USD ($)	Mar. 28, 2023 USD ($) transformer installment shares	Dec. 31, 2022 $ / shares	Dec. 30, 2022 $ / shares	Oct. 27, 2022 USD ($)	May 15, 2022 shares
Extinguishment of Debt [Line Items]
Preferred stock, par value (in USD per share) \| $ / shares	$ 0.0001		$ 0.0001			$ 0.0001
Loss on debt extinguishment			$ 28,960,947	$ 0
Warrants issued during period (in shares) \| shares									6,318,000
Bruce - Merrilees Electric Co.
Extinguishment of Debt [Line Items]
Payable eliminated					$ 11,400,000
Number of transformers released \| transformer					10
Number of transformers cancelled \| transformer					90
Series C Convertible Preferred Stock
Extinguishment of Debt [Line Items]
Preferred stock, par value (in USD per share) \| $ / shares							$ 0.0001
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable
Extinguishment of Debt [Line Items]
Debt face amount			$ 58,149,411
Period of pause on triggered monthly debt repayments		5 months
Monthly prepayments, average daily cash percentage in excess of triggering amount		50.00%
Monthly prepayments, triggering daily cash balance amount (in excess)		$ 7,500,000
Maximum leverage ratio		4.0
Interest rate			10.00%
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Extinguishment of Debt [Line Items]
Basis spread on variable rate		10.00%
Reference rate		3.00%
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| Fed Funds Effective Rate Overnight Index Swap Rate
Extinguishment of Debt [Line Items]
Basis spread on variable rate		0.50%
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Debt Instrument, Basis Spread On Variable Rate, One
Extinguishment of Debt [Line Items]
Basis spread on variable rate		1.00%
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| Term Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate \| Debt Instrument, Basis Spread On Variable Rate, Two
Extinguishment of Debt [Line Items]
Basis spread on variable rate		9.00%
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| Until March 31, 2024
Extinguishment of Debt [Line Items]
Minimum liquidity requirement		$ 2,500,000
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| During The Period April 1, 2024 Through December 31, 2024
Extinguishment of Debt [Line Items]
Minimum liquidity requirement		5,000,000
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| From And After January 1, 2025
Extinguishment of Debt [Line Items]
Minimum liquidity requirement		$ 7,500,000
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Secured Debt \| Loans payable
Extinguishment of Debt [Line Items]
Debt face amount								$ 35,100,000
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Line of Credit \| Loans payable
Extinguishment of Debt [Line Items]
Debt face amount								$ 23,000,000
Amended And Restated 10% Notes \| Loans payable
Extinguishment of Debt [Line Items]
Interest rate							10.00%
Debt extinuished, paid-in-kind	$ 16,900,000
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025. \| Loans payable
Extinguishment of Debt [Line Items]
Debt face amount			$ 3,500,000		$ 3,500,000
Interest rate			7.50%
Warrants issued during period (in shares) \| shares					3,000,000
Principal amount due, subject to contingencies					$ 500,000
Principal amount due, subject to contingencies, number of installments \| installment					4
Principal installment amount due, subject to contingencies					$ 125,000

WARRANTS (Tables)

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment [Abstract]

Outstanding Warrants

The following table summarizes outstanding warrants as of March 31, 2023.


			Number of Warrants
Outstanding as of December 31, 2022			15,875,106
Issued			3,000,000
Exercised			(5,002,650)
Outstanding as of March 31, 2023			13,872,456

COMMITMENTS AND CONTINGENCIES (Details) terahash in Millions	Oct. 26, 2022 USD ($)	Jul. 18, 2022	May 09, 2022 USD ($)	Jun. 02, 2021 USD ($)	Apr. 02, 2021 USD ($) miner terahash	Mar. 31, 2020 USD ($)	Jan. 31, 2020 USD ($)	Nov. 30, 2019 USD ($)	Mar. 31, 2023 USD ($) miner	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($) miner
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of miners \| miner									15,000
Remaining commitment balance									$ 68,887,550
Impairment									$ 17,348,742
Scrubgrass Generating Company, L.P. \| McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages awarded			$ 5,000,000
Litigation settlement interest			$ 800,000
Pending Litigation \| McClymonds Supply and Transit Company, Inc. \| McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought							$ 5,042,350
Pending Litigation \| Allegheny Mineral Corporation \| Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought								$ 1,200,000
Pending Litigation \| Scrubgrass Generating Company, L.P. \| McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought						$ 6,747,328
Pending Litigation \| Scrubgrass Generating Company, L.P. \| Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought								$ 1,300,000
Settled Litigation \| Scrubgrass Generating Company, L.P. \| Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages awarded	$ 300,000
Miner Equipment, MinerVa, MinerVA
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of miners \| miner					15,000				15,000
Total terahash delivered by miner (in terahash) \| terahash					1.5
Price per miner (in dollars per miner)					$ 4,892.5
Remaining commitment balance					$ 73,387,500				$ 68,887,550
Percentage of purchase price				20.00%	60.00%
Purchases				$ 14,677,500	$ 44,032,500
Unpaid amount									0
Number of miners delivered \| miner											3,200
Impairment									$ 17,348,742	$ 5,120,000	$ 12,228,742
Equivalent value of collateral exchanged \| miner									12,700
Resolution period		60 days

COVER - shares	3 Months Ended
COVER - shares	Mar. 31, 2023	May 08, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2023
Document Transition Report	false
Entity File Number	001-40931
Entity Registrant Name	Stronghold Digital Mining, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	86-2759890
Entity Address, Address Line One	595 Madison Avenue
Entity Address, Address Line Two	28th Floor
Entity Address, City or Town	New York
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10022
City Area Code	845
Local Phone Number	579-5992
Title of 12(b) Security	Class A common stock
Trading Symbol	SDIG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Central Index Key	0001856028
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		53,002,750
Common Stock - Class V
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		26,057,600

INVENTORY (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Waste coal	$ 4,267,308	$ 4,147,369
Fuel oil	60,913	143,592
Limestone	372,611	180,696
Inventory	$ 4,700,832	$ 4,471,657

CONCENTRATIONS	3 Months Ended
CONCENTRATIONS	Mar. 31, 2023
Risks and Uncertainties [Abstract]
CONCENTRATIONS	NOTE 9 – CONCENTRATIONS Credit risk is the risk of loss the Company would incur if counterparties fail to perform their contractual obligations (including accounts receivable). The Company primarily conducts business with counterparties in the cryptocurrency mining and energy industry. This concentration of counterparties may impact the Company’s overall exposure to credit risk, either positively or negatively, in that its counterparties may be similarly affected by changes in economic, regulatory or other conditions. The Company mitigates potential credit losses by dealing, where practical, with counterparties that are rated at investment grade by a major credit agency or have a history of reliable performance within the cryptocurrency mining and energy industry. Financial instruments which potentially expose the Company to concentrations of credit risk consist primarily of cash and accounts receivable. Cash and cash equivalents customarily exceed federally insured limits. The Company’s significant credit risk is primarily concentrated with CES. Over the course of 2022, the Company transitioned entirely to CES from Direct Energy Business Marketing, LLC. CES accounted for 100% of the Company's energy operations segment revenues for the three months ended March 31, 2023. Additionally, CES accounted for approximately 100% of the Company’s accounts receivable balance as of March 31, 2023, including approximately $3.7 million CES expects to receive from PJM on the Company's behalf, and forward to the Company upon receipt. During the first quarter of 2023, following an updated calculation from PJM revising the expected December 2022 performance assessment interval account receivable, the Company recorded a decrease in the value of accounts receivable of $1,002,750 within general and administrative expenses in the condensed consolidated statement of operations. The Company expects to receive the approximately $3.7 million of remaining accounts receivable from PJM (via CES) during the remainder of 2023. For the three months ended March 31, 2023, and 2022, respectively, the Company purchased 19% and 13% of coal from two related parties. See Note 8 – Related-Party Transactions for further information.

EARNINGS (LOSS) PER SHARE - Narrative (Details) - shares		3 Months Ended
	Apr. 20, 2023	Mar. 31, 2023	May 15, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)		53,930,000
Warrants issued during period (in shares)			6,318,000
Institutional Investor And Greg Beard \| Subsequent Event \| Private Placement
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock issued and sold during period (in shares)	10,000,000
Institutional Investor And Greg Beard \| April 2023 Warrants \| Subsequent Event
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Warrants issued during period (in shares)	10,000,000

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 10 – COMMITMENTS AND CONTINGENCIES Commitments: As discussed in Note 4 – Equipment Deposits, the Company has entered into various equipment contracts to purchase miners. Most of these contracts required a percentage of deposits upfront and subsequent payments to cover the contracted purchase price of the equipment. Details of the outstanding purchase agreement with MinerVa are summarized below. MinerVa Semiconductor Corp On April 2, 2021, the Company entered into a purchase agreement (the "MinerVa Purchase Agreement") with MinerVa for the acquisition of 15,000 of their MV7 ASIC SHA256 model cryptocurrency miners with a total terahash to be delivered equal to 1.5 million terahash. The price per miner was $4,892.50 for an aggregate purchase price of $73,387,500 to be paid in installments. The first installment equal to 60% of the purchase price, or $44,032,500, was paid on April 2, 2021, and an additional payment of 20% of the purchase price, or $14,677,500, was paid June 2, 2021. As of March 31, 2023, there were no remaining deposits owed. In December 2021, the Company extended the deadline for delivery of the MinerVa miners to April 2022. In March 2022, MinerVa was again unable to meet its delivery date and had only delivered approximately 3,200 of the 15,000 miners. As a result, an impairment totaling $12,228,742, was in the first quarter of 2022. Furthermore, in the fourth quarter of 2022, the difference between the fair value of the MinerVa equipment deposits and the carrying value resulted in the Company recording an additional impairment charge of $5,120,000. As of March 31, 2023, MinerVa had delivered, refunded cash, or swapped into deliveries of industry-leading miners of equivalent value to approximately 12,700 of the 15,000 miners. The aggregate purchase price does not include shipping costs, which are the responsibility of the Company and shall be determined at which time the miners are ready for shipment. While the Company continues to engage in discussions with MinerVa on the delivery of the remaining miners, it does not know when the remaining miners will be delivered, if at all. On July 18, 2022, the Company provided written notice of dispute to MinerVa pursuant to the MinerVa Purchase Agreement obligating the Company and MinerVa to work together in good faith towards a resolution for a period of sixty (60) days. In accordance with the MinerVa Purchase Agreement, if no settlement has been reached after sixty (60) days, Stronghold Inc. may end discussions and declare an impasse and adhere to the dispute resolution provisions of the MinerVa Purchase Agreement. As the 60-day period has expired, the Company is evaluating all available remedies under the MinerVa Purchase Agreement. Contingencies: Legal Proceedings The Company experiences litigation in the normal course of business. Management is of the belief that none of this routine litigation will have a material adverse effect on the Company’s financial position or results of operations. McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P. On January 31, 2020, McClymonds Supply and Transit Company, Inc. (“McClymonds”) made a Demand for Arbitration, as required by the terms of the Transportation Agreement between McClymonds and Scrubgrass Generating Company, L.P. ("Scrubgrass") dated April 8, 2013 (the “Agreement”). In its demand, McClymonds alleged damages in the amount of $5,042,350 for failure to pay McClymonds for services. On February 18, 2020, Scrubgrass submitted its answering statement denying the claim of McClymonds in its entirety. On March 31, 2020, Scrubgrass submitted its counterclaim against McClymonds in the amount of $6,747,328 as the result of McClymonds’ failure to deliver fuel as required under the terms of the Agreement. Hearings were held from January 31, 2022, to February 3, 2022. On May 9, 2022, an award in the amount of $5.0 million plus interest of approximately $0.8 million was issued in favor of McClymonds. The two managing members of Q Power have executed a binding document to pay the full amount of the award and have begun to pay the full amount of the award, such that there will be no effect on the financial condition of the Company. McClymonds shall have no recourse to the Company with respect to the award. Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039 In November 2019, Allegheny Mineral Corporation ("Allegheny Mineral") filed suit against the Company seeking payment of approximately $1,200,000 in outstanding invoices. In response, the Company filed counterclaims against Allegheny Mineral asserting breach of contract, breach of express and implied warranties, and fraud in the amount of $1,300,000. After unsuccessful mediation in August 2020, the parties again attempted to mediate the case on October 26, 2022, which led to a mutual agreement to settlement terms of a $300,000 cash payment, and a supply agreement for limestone. Subject to completion of the settlement terms, this matter has been stayed in Butler County Court and the outstanding litigation has been terminated. Federal Energy Regulatory Commission ("FERC") Matters On November 19, 2021, Scrubgrass received a notice of breach from PJM Interconnection, LLC alleging that Scrubgrass breached Interconnection Service Agreement – No. 1795 (the “ISA”) by failing to provide advance notice to PJM Interconnection, LLC and Mid-Atlantic Interstate Transmission, LLC pursuant to ISA, Appendix 2, section 3, of modifications made to the Scrubgrass Plant. On December 16, 2021, Scrubgrass responded to the notice of breach and respectfully disagreed that the ISA had been breached. On January 7, 2022, Scrubgrass participated in an information gathering meeting with representatives from PJM regarding the notice of breach and Scrubgrass continues to work with PJM regarding the dispute, including conducting a necessary study agreement with respect to the Scrubgrass Plant. On January 20, 2022, the Company sent PJM a letter regarding the installation of a resistive computational load bank at the Panther Creek Plant. On March 1, 2022, the Company executed a necessary study agreement with respect to the Panther Creek Plant. On May 11, 2022, the Division of Investigations of the FERC Office of Enforcement (“OE”) informed the Company that the Office of Enforcement is conducting a non-public preliminary investigation concerning Scrubgrass’ compliance with various aspects of the PJM tariff. The OE requested that the Company provide certain information and documents concerning Scrubgrass’ operations by June 10, 2022. On July 13, 2022, after being granted an extension to respond by the OE, the Company submitted a formal response to the OE's request. Since the Company submitted its formal response to the OE's request, the Company has had further discussions with the OE regarding the Company's formal response. The OE's investigation, and discussions between the OE and the Company, regarding potential instances of non-compliance is continuing. The Company does not believe the PJM notice of breach, the Panther Creek necessary study agreement, or the preliminary investigation by the OE will have a material adverse effect on the Company’s reported financial position or results of operations, although the Company cannot predict with certainty the final outcome of these proceedings. Winter v. Stronghold Digital Mining Inc., et al., U.S. District Court for the Southern District of New York On April 14, 2022, the Company, and certain of our current and former directors, officers and underwriters were named in a putative class action complaint filed in the United States District Court for the Southern District of New York. In the complaint, the plaintiffs allege that the Company made misleading statements and/or failed to disclose material facts in violation of Section 11 of the Securities Act, 15 U.S.C. §77k and Section 15 of the Securities Act, about the Company’s business, operations, and prospects in the Company’s registration statement on Form S-1 related to its initial public offering, and when subsequent disclosures were made regarding these operational issues when the Company announced its fourth quarter and full year 2021 financial results, the Company’s stock price fell, causing significant losses and damages. As relief, the plaintiffs are seeking, among other things, compensatory damages. On August 4, 2022, co-lead plaintiffs were appointed. On October 18, 2022, the plaintiffs filed an amended complaint. On December 19, 2022, the Company filed a Motion to Dismiss. On February 17, 2023, the plaintiffs filed an opposition to the defendant's motion to dismiss. On March 20, 2023, the Company filed a reply brief in further support of its motion to dismiss. The Company cannot predict when the court will rule on its motion. The defendants believe the allegations in the initial complaint are without merit and intend to defend the suit vigorously. Mark Grams v. Treis Blockchain, LLC, Chain Enterprises, LLC, Cevon Technologies, LLC, Stronghold Digital Mining, LLC, David Pence, Michael Bolick, Senter Smith, Brian Lambretti and John Chain On May 4, 2023, Stronghold Digital Mining, LLC, a subsidiary of the Company, was named as one of several defendants in a complaint filed in the United States District Court for the Middle District of Alabama Eastern Division (the "Grams Complaint"). The Grams Complaint alleges that certain Bitcoin miners that the Company purchased from Treis Blockchain, LLC ("Treis") in December 2021 contained firmware that Treis misappropriated from Grams. The Company believes that the allegations against the Company and its subsidiaries in the Grams Complaint are without merit and intends to defend the suit vigorously. The Company does not believe the Grams Complaint will have a material adverse effect on the Company's reported financial position or results of operations.

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Common stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	685,440,000	685,440,000
Common stock, issued (in shares)	41,046,186	31,710,217
Common stock, outstanding (in shares)	41,046,186	31,710,217
Preferred stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	23,102	23,102
Preferred stock, issued (in shares)	21,572	0
Preferred stock, outstanding (in shares)	21,572	0
Common Stock - Class V
Common stock - Class V, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock - Class V, authorized (in shares)	34,560,000	34,560,000
Common stock - Class V, issued (in shares)	26,057,600	26,057,600
Class V common stock, outstanding (in shares)	26,057,600	26,057,600

PROPERTY AND EQUIPMENT

3 Months Ended

Mar. 31, 2023

PROPERTY, PLANT AND EQUIPMENT

NOTE 5 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following as of March 31, 2023, and December 31, 2022:


	Useful Lives (Years)	March 31, 2023		December 31, 2022
Electric plant	10 - 60	$	66,490,600	$	66,295,809
Strongboxes and power transformers	8 - 30	54,588,284		52,318,704
Machinery and equipment	5 - 20	18,131,977		18,131,977
Rolling stock	5 - 7	261,000		261,000
Cryptocurrency machines and powering supplies	2 - 3	86,481,239		81,945,396
Computer hardware and software	2 - 5	17,196		17,196
Vehicles and trailers	2 - 7	659,133		659,133
Construction in progress	Not Depreciable	11,099,409		19,553,826
Asset retirement cost	10 - 30	580,452		580,452
		238,309,290		239,763,493
Accumulated depreciation and amortization		(79,942,606)		(72,558,812)
Property, plant and equipment, net		$	158,366,684	$	167,204,681

Construction in progress consists of various projects to build out the cryptocurrency machine power infrastructure and is not depreciable until the asset is considered in service and successfully powers and runs the attached cryptocurrency machines. Completion of these projects will have various rollouts of energized transformed containers and are designed to

calibrate power from the plant to the container that houses multiple cryptocurrency machines. Currently, the balance of $11,099,409 as of March 31, 2023, represents open contracts for future projects.

Depreciation and amortization expense charged to operations was $7,722,841 and $12,319,581 for the three months ended March 31, 2023, and 2022, respectively, including depreciation of assets under finance leases of $133,382 and $94,262 for the three months ended March 31, 2023, and 2022, respectively.

The gross value of assets under finance leases and the related accumulated amortization approximated $2,890,665 and $1,207,473 as of March 31, 2023, respectively, and $2,890,665 and $1,074,091 as of December 31, 2022, respectively

RELATED-PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2023

RELATED-PARTY TRANSACTIONS

NOTE 8 – RELATED-PARTY TRANSACTIONS

Waste Coal Agreement

The Company is obligated under a Waste Coal Agreement (the “WCA”) to take minimum annual delivery of 200,000 tons of waste coal as long as there is a sufficient quantity of waste coal that meets the Average Quality Characteristics (as defined in the WCA). Under the terms of the WCA, the Company is not charged for the waste coal itself but is charged a $6.07 per ton base handling fee as it is obligated to mine, process, load, and otherwise handle the waste coal for itself and also for other customers of Coal Valley Sales, LLC (“CVS”) from the Company's Russellton site specifically. The Company is also obligated to unload and properly dispose of ash at its Russellton site. The Company is charged a reduced handling fee of $1.00 per ton for any tons in excess of the minimum take of 200,000 tons. The Company is the designated operator of the Russellton site, and therefore, is responsible for complying with all state and federal requirements and regulations.

The Company purchases coal from Coal Valley Properties, LLC, a single-member limited liability company which is entirely owned by one individual who has ownership in Q Power LLC ("Q Power"), and from CVS. CVS is a single-member limited liability company which is owned by a coal reclamation partnership of which an owner of Q Power has a direct and an indirect interest in the partnership of 16.26%.

The Company expensed $150,000 and $303,500 for the three months ended March 31, 2023, and 2022, respectively, associated with coal purchases from CVS, which is included in fuel expense in the condensed consolidated statements of operations. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

Fuel Service and Beneficial Use Agreement

The Company has a Fuel Service and Beneficial Use Agreement (“FBUA”) with Northampton Fuel Supply Company, Inc. (“NFS”), a wholly owned subsidiary of Olympus Power. The Company buys fuel from and sends ash to NFS, for the mutual benefit of both facilities, under the terms and rates established in the FBUA. The FBUA expires on December 31, 2023. The Company expensed $1,157,927 and $379,646 for the three months ended March 31, 2023, and 2022, respectively, which is included in fuel expense in the condensed consolidated statements of operations. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

Fuel Management Agreements

Panther Creek Fuel Services LLC

Effective August 1, 2012, the Company entered into the Fuel Management Agreement (the “Panther Creek Fuel Agreement”) with Panther Creek Fuel Services LLC, a wholly owned subsidiary of Olympus Services LLC which, in turn, is a wholly owned subsidiary of Olympus Power LLC. Under the Panther Creek Fuel Agreement, Panther Creek Fuel Services LLC provides the Company with operations and maintenance services with respect to the Facility. The Company reimburses Panther Creek Energy Services LLC for actual wages and salaries. The Company expensed $478,621 and $398,769 for the three months ended March 31, 2023, and 2022, respectively, which is included in operations and maintenance expense in the condensed consolidated statements of operations. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

Scrubgrass Fuel Services, LLC

Effective February 1, 2022, the Company entered into the Fuel Management Agreement (the “Scrubgrass Fuel Agreement”) with Scrubgrass Fuel Services LLC, a wholly owned subsidiary of Olympus Services LLC, which, in turn, is a wholly owned subsidiary of Olympus Power LLC. Under the Scrubgrass Fuel Agreement, Scrubgrass Fuel Services LLC provides the Company with operations and maintenance services with respect to the Facility. The Company reimburses Scrubgrass Energy Services LLC for actual wages and salaries. The Company expensed $276,119 and $96,624 for the three months ended March 31, 2023, and 2022, respectively, which is included in operations and maintenance expense in the condensed consolidated statements of operations. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

O&M Agreements

Olympus Power LLC

On November 2, 2021, Stronghold LLC entered into an Operations, Maintenance and Ancillary Services Agreement (the “Omnibus Services Agreement”) with Olympus Stronghold Services, LLC (“Olympus Stronghold Services”), whereby Olympus Stronghold Services currently provides certain operations and maintenance services to Stronghold LLC and currently employs certain personnel to operate the Plants. Stronghold LLC reimburses Olympus Stronghold Services for those costs incurred by Olympus Stronghold Services and approved by Stronghold LLC in the course of providing services under the Omnibus Services Agreement, including payroll and benefits costs and insurance costs. The material costs incurred by Olympus Stronghold Services shall be approved by Stronghold LLC. From November 2, 2021, until October 1, 2023, Stronghold LLC also agreed to pay Olympus Stronghold Services a management fee at the rate of $1,000,000 per year, payable monthly for services provided at each of the Plants, and an additional one-time mobilization fee of $150,000 upon the effective date of the Omnibus Services Agreement, which has been deferred. Effective October 1, 2022, Stronghold LLC began paying Olympus Stronghold Services a management fee for the Panther Creek Plant in the amount of $500,000 per year, payable monthly for services provided at the Panther Creek Plant. This is a reduction of $500,000 from the $1,000,000 per year management fee that the Company was previously scheduled to pay Olympus Stronghold Services. The Company expensed $235,376 and $228,598 for the three months ended March 31, 2023, and 2022, respectively, which includes the monthly management fees plus reimbursable costs incurred by Olympus Stronghold Services for payroll, benefits and insurance. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

Panther Creek Energy Services LLC

Effective August 2, 2021, the Company entered into the Operations and Maintenance Agreement (the “O&M Agreement”) with Panther Creek Energy Services LLC, a wholly owned subsidiary of Olympus Services LLC which, in turn, is a wholly owned subsidiary of Olympus Power LLC. Under the O&M Agreement, Panther Creek Energy Services LLC provides the Company with operations and maintenance services with respect to the Facility. The Company reimburses Panther Creek Energy Services LLC for actual wages and salaries. The Company also agreed to pay a management fee of $175,000 per operating year, which is payable monthly, and is adjusted by the consumer price index on each anniversary date of the effective date. The Company expensed $910,394 and $887,824 for the three months ended March 31, 2023, and 2022, respectively, which includes the monthly management fees plus reimbursable costs incurred by Olympus Stronghold Services for payroll, benefits and insurance. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

In connection with the equity contribution agreement, effective July 9, 2021 (the "Equity Contribution Agreement"), the Company entered into the Amended and Restated Operations and Maintenance Agreement (the “Amended O&M Agreement”) with Panther Creek Energy Services LLC. Under the Amended O&M Agreement, the management fee is $250,000 for the twelve-month period following the effective date and $325,000 per year thereafter. The effective date of the Amended O&M Agreement was the closing date of the Equity Contribution Agreement.

Scrubgrass Energy Services, LLC

Effective February 1, 2022, the Company entered into the Operations and Maintenance Agreement (the “Scrubgrass O&M Agreement”) with Scrubgrass Energy Services LLC, a wholly-owned subsidiary of Olympus Services LLC which, in turn, is a wholly-owned subsidiary of Olympus Power LLC. Under the Scrubgrass O&M Agreement, Scrubgrass Energy Services LLC provides the Company with operations and maintenance services with respect to the Facility. The Company reimburses Scrubgrass Energy Services LLC for actual wages and salaries. The Company also agreed to pay a management fee of $175,000 per operating year, which is payable monthly, and is adjusted by the consumer price index on each anniversary date of the effective date. The Company expensed $1,724,112 and $857,913 for the three months ended March 31, 2023, and 2022, respectively, which includes the monthly management fees plus reimbursable costs incurred by Olympus Stronghold Services for payroll, benefits and insurance. See the composition of the due to related parties balance as of March 31, 2023, and December 31, 2022, below.

In connection with the Equity Contribution Agreement effective July 9, 2021, the Company entered into the Amended and Restated Operations and Maintenance Agreement (the “Scrubgrass Amended O&M Agreement”) with Scrubgrass Energy Services LLC. Under the Scrubgrass Amended O&M Agreement, the management fee is $250,000 for the twelve-month period following the effective date and $325,000 per year thereafter. The effective date of the Scrubgrass Amended O&M Agreement is the closing date of the Equity Contribution Agreement.

Effective October 1, 2022, Stronghold LLC no longer pays Olympus Stronghold Services a management fee for the Scrubgrass Plant.

Management Services Agreement

On May 10, 2021, a new management and advisory agreement was entered into between Q Power and William Spence (the "Spence Agreement"). In consideration of the consultant’s performance of the services thereunder, Q Power will pay Mr. Spence a fee at the rate of $50,000 per complete calendar month (pro-rated for partial months) that Mr. Spence provides services thereunder, payable in arrears. The previous agreement requiring monthly payments of $25,000 was terminated. Q Power will not be liable for any other payments to Mr. Spence including, but not limited to, any cost or expenses incurred by Mr. Spence in the course of performing his obligations thereunder. Under the Spence Agreement, the Company expensed $150,000 for the three months ended March 31, 2023, and 2022.

On April 19, 2023, pursuant to an independent consulting agreement the Company entered into with William Spence in connection with his departure from the board of directors (the "Board") (the "Spence Consulting Agreement"), Mr. Spence's annualized salary of $600,000 decreased to the greater of $200,000 or 10% of any economic benefits derived from the sale of beneficial use ash, carbon sequestration efforts or alternative fuel arrangements, in each case, arranged by Mr. Spence. The previous Spence Agreement was terminated in connection with entry into the Spence Consulting Agreement. In April 2023, as part of the compensation pursuant to the Spence Consulting Agreement, Mr. Spence also received a one-time grant of 2,500,000 fully vested shares of the Company's Class A common stock.

Warrants

On September 13, 2022, the Company entered into a Securities Purchase Agreement with Greg Beard, the Company's chairman and chief executive officer, for the purchase and sale of 602,409 shares of Class A common stock and warrants to purchase 602,409 shares of Class A common stock, at an initial exercise price of $1.75 per share. Refer to Note 15 – Private Placements for additional details.

Additionally, on April 20, 2023, Mr. Beard invested $1.0 million in exchange for 1,000,000 shares of Class A common stock and 1,000,000 pre-funded warrants. Refer to Note 15 – Private Placements for additional details.

Amounts due to related parties as of March 31, 2023, and December 31, 2022, were as follows:


	March 31, 2023		December 31, 2022
Coal Valley Properties, LLC	$	134,452	$	134,452
Q Power LLC	500,000		500,000
Coal Valley Sales, LLC	—		—
Panther Creek Energy Services LLC	90,483		10,687
Panther Creek Fuel Services LLC	687		53,482
Northampton Generating Fuel Supply Company, Inc.	886,135		594,039
Olympus Power LLC and other subsidiaries	758		78,302
Scrubgrass Energy Services LLC	—		4,087
Scrubgrass Fuel Services LLC	—		—
Due to related parties	$	1,612,515	$	1,375,049

BASIS OF PRESENTATION - Narrative (Details)	3 Months Ended
BASIS OF PRESENTATION - Narrative (Details)	Mar. 31, 2023 USD ($)
Accounting Policies [Abstract]
Restricted cash	$ 900,000
Continous bond	400,000
Proceeds from letter of credit	$ 500,000

INCOME TAXES (Details) - USD ($)		3 Months Ended
INCOME TAXES (Details) - USD ($)	Apr. 01, 2021	Mar. 31, 2023	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Tax receivable agreement, percentage	85.00%
Income tax expense (benefit)		$ 0	$ 0
Effective income tax rate		0.00%	0.00%

Temporary Equity Disclosure [Abstract]

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References + Details

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Property, Plant And Equipment, Excluding Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 238,309,290	$ 239,763,493
Accumulated depreciation and amortization	(79,942,606)	(72,558,812)
Property, plant and equipment, net	158,366,684	167,204,681
Electric plant
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 66,490,600	66,295,809
Electric plant \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Electric plant \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	60 years
Strongboxes and power transformers
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 54,588,284	52,318,704
Strongboxes and power transformers \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	8 years
Strongboxes and power transformers \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 18,131,977	18,131,977
Machinery and equipment \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Machinery and equipment \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	20 years
Rolling Stock
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 261,000	261,000
Rolling Stock \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Rolling Stock \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	7 years
Cryptocurrency machines and powering supplies
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 86,481,239	81,945,396
Cryptocurrency machines and powering supplies \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Cryptocurrency machines and powering supplies \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Computer hardware and software
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 17,196	17,196
Computer hardware and software \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Computer hardware and software \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	5 years
Vehicles and trailers
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 659,133	659,133
Vehicles and trailers \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Vehicles and trailers \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	7 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,099,409	19,553,826
Asset retirement cost
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 580,452	$ 580,452
Asset retirement cost \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Asset retirement cost \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	30 years

REDEEMABLE COMMON STOCK (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Redeemable Common Stock

The Company recorded redeemable common stock as presented in the table below.


	Common - Class V
	Shares	Amount
Balance - December 31, 2022	26,057,600	$	11,754,587
Net loss attributable to noncontrolling interest	—	(18,119,131)
Maximum redemption right valuation	—	21,863,763
Balance - March 31, 2023	26,057,600	$	15,499,219

RELATED-PARTY TRANSACTIONS - Narrative (Details)												3 Months Ended		24 Months Ended
RELATED-PARTY TRANSACTIONS - Narrative (Details)	Apr. 20, 2023 USD ($) $ / shares shares	Apr. 19, 2023 USD ($) shares	Oct. 01, 2022 USD ($)	Sep. 19, 2022 $ / shares shares	Jul. 09, 2022 USD ($)	Feb. 01, 2022 USD ($)	Nov. 02, 2021 USD ($)	Aug. 02, 2021 USD ($)	Jul. 09, 2021 USD ($)	May 10, 2021 USD ($)	May 09, 2021 USD ($)	Mar. 31, 2023 USD ($) $ / T owner T	Mar. 31, 2022 USD ($)	Oct. 31, 2023 USD ($)	Apr. 30, 2023 $ / shares	Apr. 21, 2023 $ / shares	Dec. 31, 2022 USD ($)	May 15, 2022 $ / shares shares
Related Party Transaction [Line Items]
Due to related parties												$ 1,612,515					$ 1,375,049
Warrants issued during period (in shares) \| shares																		6,318,000
Warrant exercise price of warrants (in USD per share) \| $ / shares																		$ 2.50
September 2022 Warrants
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares				5,602,409
Warrant exercise price of warrants (in USD per share) \| $ / shares				$ 1.75
September 2022 Warrants \| Subsequent Event
Related Party Transaction [Line Items]
Warrant exercise price of warrants (in USD per share) \| $ / shares	$ 1.01														$ 1.01
Pre-Funded Warrants
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares				2,725,650
Warrant exercise price of warrants (in USD per share) \| $ / shares				$ 0.0001
Pre-Funded Warrants \| Subsequent Event
Related Party Transaction [Line Items]
Warrant exercise price of warrants (in USD per share) \| $ / shares																$ 0.0001
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer
Related Party Transaction [Line Items]
Stock issued and sold during period (in shares) \| shares				602,409
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| Subsequent Event
Related Party Transaction [Line Items]
Stock issued and sold during period (in shares) \| shares	1,000,000
Sale of stock, consideration received	$ 1,000,000
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| Pre-Funded Warrants \| Subsequent Event
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares	1,000,000
Greg Beard \| September 2022 Warrants
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares				602,409
Coal Valley Properties, LLC
Related Party Transaction [Line Items]
Number of owners \| owner												1
Q Power LLC \| Coal Reclamation Partnership
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners												16.26%
Affiliated Entity \| Coal Valley Sales, LLC
Related Party Transaction [Line Items]
Due to related parties												$ 0					0
Affiliated Entity \| Coal Valley Properties, LLC
Related Party Transaction [Line Items]
Due to related parties												134,452					134,452
Affiliated Entity \| Panther Creek Fuel Services LLC
Related Party Transaction [Line Items]
Due to related parties												687					53,482
Affiliated Entity \| Scrubgrass Fuel Services, LLC
Related Party Transaction [Line Items]
Due to related parties												0					0
Affiliated Entity \| Olympus Power LLC and other subsidiaries
Related Party Transaction [Line Items]
Expenses from transactions with related party												235,376	$ 228,598
Affiliated Entity \| Panther Creek Energy Services LLC
Related Party Transaction [Line Items]
Due to related parties												90,483					10,687
Affiliated Entity \| Scrubgrass Energy Services, LLC
Related Party Transaction [Line Items]
Due to related parties												$ 0					$ 4,087
Affiliated Entity \| Waste Coal Agreement (the “WCA”) \| Coal Valley Sales, LLC
Related Party Transaction [Line Items]
Waste coal annual quantity committed (in ton) \| T												200,000
Waste coal, handling fee (in USD per ton) \| $ / T												6.07
Waste coal commitment, units in excess of annual commitment, price per unit (in USD per ton) \| $ / T												1.00
Expenses from transactions with related party												$ 150,000	303,500
Affiliated Entity \| Fuel Service and Beneficial Use Agreement ("FBUA") \| Northampton Fuel Supply Company, Inc. (“NFS”)
Related Party Transaction [Line Items]
Expenses from transactions with related party												1,157,927	379,646
Affiliated Entity \| Fuel Management Agreement \| Panther Creek Fuel Services LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party												478,621	398,769
Affiliated Entity \| Fuel Management Agreement \| Scrubgrass Fuel Services, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party												276,119	96,624
Affiliated Entity \| Management Fee \| Olympus Stronghold Services, LLC \| Forecast
Related Party Transaction [Line Items]
Expenses from transactions with related party														$ 1,000,000
Affiliated Entity \| Management Fee \| Panther Creek Energy Services LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party					$ 325,000			$ 175,000	$ 250,000
Related party transaction, period									12 months
Affiliated Entity \| Management Fee \| Scrubgrass Energy Services, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party					$ 325,000	$ 175,000			$ 250,000
Related party transaction, period									12 months
Affiliated Entity \| Mobilization Fee \| Olympus Stronghold Services, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party							$ 150,000
Affiliated Entity \| Management Fee, Panther Creek Plant \| Olympus Stronghold Services, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party			$ 500,000									1,000,000
Reduction of expenses from transactions with related party			$ 500,000
Affiliated Entity \| Operations and Maintenance Agreement \| Panther Creek Energy Services LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party												910,394	887,824
Affiliated Entity \| Operations and Maintenance Agreement \| Scrubgrass Energy Services, LLC
Related Party Transaction [Line Items]
Expenses from transactions with related party												1,724,112	857,913
Affiliated Entity \| Management Services Agreement \| William Spence
Related Party Transaction [Line Items]
Expenses from transactions with related party												$ 150,000	$ 150,000
Affiliated Entity \| Management Services Agreement \| Q Power LLC \| William Spence
Related Party Transaction [Line Items]
Monthly management fee										$ 50,000	$ 25,000
Management \| Independent Consulting Agreement \| Subsequent Event
Related Party Transaction [Line Items]
Granted (in shares) \| shares		2,500,000
Management \| Independent Consulting Agreement, Salary Before Adjustment \| Subsequent Event
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 600,000
Management \| Independent Consulting Agreement, Salary Option After Adjustment \| Subsequent Event
Related Party Transaction [Line Items]
Expenses from transactions with related party		$ 200,000
Related party transaction, percentage		0.10

NATURE OF OPERATIONS	3 Months Ended
NATURE OF OPERATIONS	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Stronghold Digital Mining, Inc. ("Stronghold Inc." or the "Company") is a low-cost, environmentally beneficial, vertically integrated crypto asset mining company currently focused on mining Bitcoin and environmental remediation and reclamation services. The Company wholly owns and operates two coal refuse power generation facilities that it has upgraded: (i) the Company's first reclamation facility located on a 650-acre site in Scrubgrass Township, Venango County, Pennsylvania, which the Company acquired the remaining interest of in April 2021, and has the capacity to generate approximately 83.5 megawatts (“MW”) of electricity (the "Scrubgrass Plant"); and (ii) a facility located near Nesquehoning, Pennsylvania, which the Company acquired in November 2021, and has the capacity to generate approximately 80 MW of electricity (the "Panther Creek Plant, and collectively with Scrubgrass Plant, the "Plants"). Both facilities qualify as an Alternative Energy System because coal refuse is classified under Pennsylvania law as a Tier II Alternative Energy Source (large-scale hydropower is also classified in this tier). The Company is committed to generating energy and managing its assets sustainably, and the Company believes that it is one of the first vertically integrated crypto asset mining companies with a focus on environmentally beneficial operations. Stronghold Inc. operates in two business segments – the Energy Operations segment and the Cryptocurrency Operations segment. This segment presentation is consistent with how the Company's chief operating decision maker evaluates financial performance and makes resource allocation and strategic decisions about the business. Energy Operations The Company operates as a qualifying cogeneration facility (“Facility”) under the provisions of the Public Utilities Regulatory Policies Act of 1978 and sells its electricity into the PJM Interconnection Merchant Market ("PJM") under a Professional Services Agreement (“PSA”) with Customized Energy Solutions (“CES”), effective July 27, 2022. Under the PSA, CES agreed to act as the exclusive provider of services for the benefit of the Company related to interfacing with PJM, including handling daily marketing, energy scheduling, telemetry, capacity management, reporting, and other related services for the Plants. The initial term of the agreement is two years, and then will extend automatically on an annual basis unless terminated by either party with 60 days written (or electronic) notice prior to the current term end. The Company’s primary fuel source is waste coal which is provided by various third parties. Waste coal tax credits are earned by the Company by generating electricity utilizing coal refuse. Cryptocurrency Operations The Company is also a vertically-integrated digital currency mining business. The Company buys and maintains a fleet of Bitcoin mining equipment and the required infrastructure and provides power to third-party digital currency miners under power purchase and hosting agreements. The digital currency mining operations are in their early stages, and digital currencies and energy pricing mining economics are volatile and subject to uncertainty. The Company’s current strategy will continue to expose it to the numerous risks and volatility associated with the digital mining and power generation sectors, including fluctuating Bitcoin-to-U.S.-Dollar prices, the costs and availability of miners, the number of market participants mining Bitcoin, the availability of other power generation facilities to expand operations, and regulatory changes.

SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2023

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment


	Three Months Ended
	March 31, 2023		March 31, 2022
OPERATING REVENUES:
Energy Operations	$	3,642,921	$	11,109,581
Cryptocurrency Operations	13,623,294		18,272,069
Total operating revenues	$	17,266,215	$	29,381,650
NET OPERATING LOSS:
Energy Operations	$	(10,734,947)	$	(12,097,125)
Cryptocurrency Operations	(3,881,166)		(16,834,089)
Total net operating loss	$	(14,616,113)	$	(28,931,214)
OTHER EXPENSE [A]	(32,044,449)		(3,375,202)
NET LOSS	$	(46,660,562)	$	(32,306,416)

DEPRECIATION AND AMORTIZATION:
Energy Operations	$	(1,332,873)	$	(1,256,101)
Cryptocurrency Operations	(6,389,968)		(11,063,480)
Total depreciation and amortization	$	(7,722,841)	$	(12,319,581)
INTEREST EXPENSE:
Energy Operations	$	(159,287)	$	(31,522)
Cryptocurrency Operations	(2,224,626)		(2,879,931)
Total interest expense	$	(2,383,913)	$	(2,911,453)

DEBT

3 Months Ended

Mar. 31, 2023

Debt Disclosure [Abstract]

DEBT

NOTE 7 – DEBT

Total debt consisted of the following as of March 31, 2023, and December 31, 2022:


	March 31, 2023		December 31, 2022
$499,520 loan, with interest at 2.49%, due December 2023.	$	97,779	$	124,023
$499,895 loan, with interest at 2.95%, due July 2023.	88,694		121,470
$517,465 loan, with interest at 4.78%, due October 2024.	296,898		339,428
$585,476 loan, with interest at 4.99%, due November 2025.	472,196		513,334
$431,825 loan, with interest at 7.60%, due April 2024.	99,610		121,460
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025.	54,370,570		56,114,249
$33,750,000 Convertible Note, with interest at 10.00%, due May 2024.	—		16,812,500
$92,381 loan, with interest at 1.49%, due April 2026.	71,903		79,249
$64,136 loan, with interest at 11.85%, due May 2024.	33,018		39,056
$196,909 loan, with interest at 6.49%, due May 2024.	172,684		184,895
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025.	3,500,000		—
Total outstanding borrowings	$	59,203,352	$	74,449,664

Current portion of long-term debt, net of discounts and issuance fees	995,145		17,422,546
Long-term debt, net of discounts and issuance fees	$	58,208,207	$	57,027,118

WhiteHawk Refinancing Agreement

On October 27, 2022, the Company entered into a secured credit agreement (the “Credit Agreement”) with WhiteHawk Finance LLC ("WhiteHawk") to refinance an existing equipment financing agreement, dated June 30, 2021, by and between Stronghold Digital Mining Equipment, LLC and WhiteHawk (the “WhiteHawk Financing Agreement”), effectively terminating the WhiteHawk Financing Agreement. Upon closing, the Credit Agreement consisted of $35.1 million in term loans and $23.0 million in additional commitments.

The financing pursuant to the Credit Agreement (such financing, the “WhiteHawk Refinancing Agreement”) was entered into by Stronghold Digital Mining Holdings, LLC ("Stronghold LLC"), as Borrower (in such capacity, the “Borrower”), and is secured by substantially all of the assets of the Company and its subsidiaries and is guaranteed by the Company and each of its material subsidiaries. The WhiteHawk Refinancing Agreement requires equal monthly amortization payments resulting in full amortization at maturity. The WhiteHawk Refinancing Agreement has customary representations, warranties and covenants including restrictions on indebtedness, liens, restricted payments and dividends, investments, asset sales and similar covenants and contains customary events of default.

On February 6, 2023, the Company, Stronghold LLC, as borrower, their subsidiaries and WhiteHawk Capital Partners LP ("WhiteHawk Capital"), as collateral agent and administrative agent, and the other lenders thereto, entered into an amendment to the Credit Agreement (the “First Amendment”) in order to modify certain covenants and remove certain prepayment requirements contained therein. As a result of the First Amendment, amortization payments for the period from February 2023 through July 2024 will not be required, with monthly amortization resuming July 31, 2024. Beginning June 30, 2023, following a five-month holiday, Stronghold LLC will make monthly prepayments of the loan in an amount equal to 50% of its average daily cash balance (including cryptocurrencies) in excess of $7,500,000 for such month. The First Amendment also modified the financial covenants to (i) in the case of the requirement of the Company to maintain a leverage ratio no greater than 4.0:1.00, such covenant will not be tested until the fiscal quarter ending September 30, 2024, and (ii) in the case of the minimum liquidity covenant, modified to require minimum liquidity at any time to be not less than: (A) until March 31, 2024, $2,500,000; (B) during the period beginning April 1, 2024, through and including December 31, 2024, $5,000,000; and (C) from and after January 1, 2025, $7,500,000. The Company was in compliance with all applicable covenants under the WhiteHawk Refinancing Agreement as of March 31, 2023.

The borrowings under the WhiteHawk Refinancing Agreement mature on October 26, 2025, and bear interest at a rate of either (i) the Secured Overnight Financing Rate ("SOFR") plus 10% or (ii) a reference rate equal to the greater of (x) 3%, (y) the federal funds rate plus 0.5% and (y) the term SOFR rate plus 1%, plus 9%. Borrowings under the WhiteHawk Refinancing Agreement may also be accelerated in certain circumstances.

Convertible Note Exchange

On December 30, 2022, the Company entered into an exchange agreement with the holders (the “Holders”) of the Company’s Amended and Restated 10% Notes (the “Notes”), providing for the exchange of the Notes (the “Exchange Transaction”) for shares of the Company’s newly-created Series C Convertible Preferred Stock, par value $0.0001 per share (the “Series C Preferred Stock”). On February 20, 2023, the Exchange Transaction was consummated, and the Notes were deemed paid in full. Approximately $16.9 million of principal amount of debt was extinguished in exchange for the issuance of the shares of Series C Preferred Stock. As a result of this transaction, the Company incurred a loss on debt extinguishment of approximately $29 million for the three months ended March 31, 2023.

On February 20, 2023, in connection with the consummation of the Exchange Transaction, the Company entered into a Registration Rights Agreement with the Holders (the “Registration Rights Agreement”) whereby it agreed to, among other things, (i) file within two business days following the filing of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022, a resale registration statement (the “Resale Registration Statement”) with the SEC covering all shares of the Company’s Class A common stock issuable upon conversion of the Series C Preferred Stock or upon exercise of the pre-funded warrants that may be issued in lieu of Class A common stock upon conversion of the Series C Preferred Stock, and (ii) to cause the Resale Registration Statement to become effective within the timeframes specified in the Registration Rights Agreement.

Bruce & Merrilees Promissory Note

On March 28, 2023, the Company and Stronghold LLC entered into a settlement agreement (the “B&M Settlement”) with its electrical contractor, Bruce & Merrilees Electric Co. (“B&M”). Pursuant to the B&M Settlement, B&M agreed to eliminate an approximately $11.4 million outstanding payable in exchange for a promissory note in the amount of $3,500,000 (the "B&M Note") and a stock purchase warrant for the right to purchase from the Company 3,000,000 shares of Class A common stock (the "B&M Warrant"). The B&M Note has no definitive payment schedule or term. Pursuant to the B&M Settlement, B&M released ten (10) 3000kva transformers to the Company and fully cancelled ninety (90) transformers remaining under a pre-existing order with a third-party supplier. The terms of the B&M Settlement included a mutual release of all claims. Simultaneous with the B&M Settlement, the Company and each of its subsidiaries entered into a subordination agreement with B&M and WhiteHawk Capital pursuant to which all obligations, liabilities and indebtedness of every nature of the Company and each of its subsidiaries owed to B&M shall be subordinate and subject in right and time of payment, to the prior payment of full of the Company's obligation to WhiteHawk Capital pursuant to the Credit Agreement.

Pursuant to the B&M Note, the first $500,000 of the principal amount of the loan shall be payable in four equal monthly installments of $125,000 beginning on April 30, 2023, so long as (i) no default or event of default has occurred or is occurring under the WhiteHawk Credit Agreement and (ii) no PIK Option (as such term is defined in the WhiteHawk Refinancing Agreement) has been elected by the Company. The principal amount under the B&M Note bears interest at seven and one-half percent (7.5%).

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 7,722,841	$ 12,319,581
Depreciation of assets under finance leases	133,382	$ 94,262
Gross value of assets under finance leases	2,890,665		$ 2,890,665
Assets under finance leases, accumulated amortization	1,207,473		1,074,091
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,099,409		$ 19,553,826

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 20 – SUBSEQUENT EVENTS April 2023 Private Placement On April 20, 2023, the Company entered into Securities Purchase Agreements with an institutional investor and the Company’s chairman and chief executive officer, Greg Beard, for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $1.00 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $1.10 per share (subject to certain adjustments in accordance with the terms thereof). Pursuant to the Securities Purchase Agreements, the institutional investor invested $9.0 million in exchange for an aggregate of 9,000,000 shares of Class A common stock and pre-funded warrants, and Mr. Beard invested $1.0 million in exchange for an aggregate of 1,000,000 shares of Class A common stock, in each case at a price of $1.00 per share equivalent. Further, the institutional investor and Mr. Beard received warrants exercisable for 9,000,000 shares and 1,000,000 shares, respectively, of Class A common stock. Subject to certain ownership limitations, the warrants are exercisable six months after issuance. The warrants are exercisable for five and a half years commencing upon the date of issuance, subject to certain ownership limitations. The pre-funded warrants have an exercise price of $0.0001 per warrant share and are immediately exercisable, subject to certain ownership limitations. The gross proceeds from the April 2023 Private Placement, before deducting offering expenses, was approximately $10.0 million. The April 2023 Private Placement closed on April 21, 2023. Additionally, as previously disclosed, the Company entered into Securities Purchase Agreements with the September 2022 Private Placement Purchasers for, in part, warrants to purchase an aggregate of 5,602,409 shares of Class A common stock, at an exercise price of $1.75 per share. On April 20, 2023, the Company and the September 2022 Private Placement Purchasers entered into amendments to, among other things, adjust the strike price of the warrants from $1.75 per share to $1.01 per share. MicroBT Miner Purchase On April 20, 2023, Stronghold Inc. entered into a Master Sales and Purchase Agreement to acquire 5,000 new, latest-generation MicroBT WhatsMiner M50 miners (the “M50 Miners”) for $15.50 per terahash per second, including shipping. The M50 Miners have an average hash rate of 118 terahash per second and energy efficiency of 28.5 joules per terahash. This addition of approximately 600 petahash per second of hash rate capacity is expected to grow Stronghold Inc.'s total delivered hash rate capacity by over 20% to over 3.2 exahash per second (“EH/s”) and to approximately 3.5 EH/s with all remaining contracted miners delivered. The Company expects to receive and install the M50 Miners during the second quarter of 2023. Canaan Bitcoin Mining Agreement On April 27, 2023, the Company signed a two-year hosting agreement with Cantaloupe Digital LLC, a subsidiary of Canaan Inc. ("Canaan"), whereby Stronghold Inc. will operate 2,000 A1346 (110 TH/s per miner) and 2,000 A1246 (90 TH/s per miner) Bitcoin miners supplied by Canaan (the “Canaan Miners”), with total hash rate capacity of 400 PH/s (the “Canaan Bitcoin Mining Agreement”). The Canaan Bitcoin Mining Agreement has a two-year term, with no unilateral early termination option. The Company will receive 50% of the Bitcoin mined by the Canaan Miners and receive payments from Canaan equal to 55% of the net cost of power at the Company’s Panther Creek Plant, in dollar-per-megawatt-hour terms, calculated on a monthly basis. Additionally, Stronghold Inc. will retain all upside associated with selling power to the grid, and, if the Company elects to curtail the Canaan Miners to sell power to the grid, Canaan will receive a true-up payment that represent estimates of the Bitcoin mining revenue would have been generated had the miners not been curtailed. The A1246 Bitcoin miners are to be installed by May 15, 2023, and the A1346 Bitcoin miners are to be installed by June 15, 2023. On May 3, 2023, the 2,000 A1246 Bitcoin miners were delivered to the Company's Panther Creek Plant and were ready to be deployed.

EQUIPMENT DEPOSITS - Narrative (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Unrecorded Unconditional Purchase Obligation [Line Items]
Impairment	$ 17,348,742
MinerVa, MinerVA
Unrecorded Unconditional Purchase Obligation [Line Items]
Impairment	$ 17,348,742	$ 5,120,000	$ 12,228,742

PRIVATE PLACEMENTS - Black Scholes Input Assumptions (Details) - Common Class A	Mar. 31, 2023 USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Expected life (in years)	5 years 6 months
Fair value	$ 2,846,548
Expected volatility
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	1.321
Risk-free interest rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.036
Expected dividend yield
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0000

PRIVATE PLACEMENTS (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Black Scholes Input Assumptions

The fair value of the warrant liabilities was estimated as of March 31, 2023, using a Black-Scholes model with significant inputs as follows:


	March 31, 2023
Expected volatility	132.1		%
Expected life (in years)	5.50
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	2,846,548

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
OPERATING REVENUES:
Operating revenues	$ 17,266,215	$ 29,381,650
OPERATING EXPENSES:
Fuel	7,414,014	10,019,985
Operations and maintenance	8,440,923	10,520,305
General and administrative	8,468,755	11,424,231
Depreciation and amortization	7,722,841	12,319,581
Loss on disposal of fixed assets	91,086	44,958
Realized gain on sale of digital currencies	(326,768)	(751,110)
Impairments on digital currencies	71,477	2,506,172
Impairments on equipment deposits	0	12,228,742
Total operating expenses	31,882,328	58,312,864
NET OPERATING LOSS	(14,616,113)	(28,931,214)
OTHER INCOME (EXPENSE):
Interest expense	(2,383,913)	(2,911,453)
Loss on debt extinguishment	(28,960,947)	0
Changes in fair value of warrant liabilities	(714,589)	0
Changes in fair value of forward sale derivative	0	(483,749)
Other	15,000	20,000
Total other income (expense)	(32,044,449)	(3,375,202)
NET LOSS	(46,660,562)	(32,306,416)
NET LOSS attributable to noncontrolling interest	(18,119,131)	(18,897,638)
Net loss attributable to Stronghold Digital Mining, Inc.	$ (28,541,431)	$ (13,408,778)
NET LOSS attributable to Class A common shareholders:
Basic (in USD per share)	$ (0.65)	$ (0.66)
Diluted (in USD per share)	$ (0.65)	$ (0.66)
Weighted average number of Class A common shares outstanding:
Basic (in shares)	43,756,137	20,206,103
Diluted (in shares)	43,756,137	20,206,103
Cryptocurrency mining
OPERATING REVENUES:
Operating revenues	$ 11,297,298	$ 18,204,193
Energy
OPERATING REVENUES:
Operating revenues	2,730,986	9,044,392
Cryptocurrency hosting
OPERATING REVENUES:
Operating revenues	2,325,996	67,876
Capacity
OPERATING REVENUES:
Operating revenues	859,510	2,044,427
Other
OPERATING REVENUES:
Operating revenues	$ 52,425	$ 20,762

DEBT - Schedule of Debt (Details) - USD ($)	Mar. 31, 2023	Mar. 28, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 59,203,352		$ 74,449,664
Current portion of long-term debt, net of discounts and issuance fees	995,145		17,422,546
Long-term debt, net of discounts and issuance fees	58,208,207		57,027,118
Loans payable \| $499,520 loan, with interest at 2.49%, due December 2023.
Debt Instrument [Line Items]
Debt face amount	$ 499,520
Interest rate	2.49%
Long-term debt, gross	$ 97,779		124,023
Loans payable \| $499,895 loan, with interest at 2.95%, due July 2023.
Debt Instrument [Line Items]
Debt face amount	$ 499,895
Interest rate	2.95%
Long-term debt, gross	$ 88,694		121,470
Loans payable \| $517,465 loan, with interest at 4.78%, due October 2024.
Debt Instrument [Line Items]
Debt face amount	$ 517,465
Interest rate	4.78%
Long-term debt, gross	$ 296,898		339,428
Loans payable \| $585,476 loan, with interest at 4.99%, due November 2025.
Debt Instrument [Line Items]
Debt face amount	$ 585,476
Interest rate	4.99%
Long-term debt, gross	$ 472,196		513,334
Loans payable \| $431,825 loan, with interest at 7.60%, due April 2024.
Debt Instrument [Line Items]
Debt face amount	$ 431,825
Interest rate	7.60%
Long-term debt, gross	$ 99,610		121,460
Loans payable \| $58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025.
Debt Instrument [Line Items]
Debt face amount	$ 58,149,411
Interest rate	10.00%
Long-term debt, gross	$ 54,370,570		56,114,249
Loans payable \| $33,750,000 Convertible Note, with interest at 10.00%, due May 2024.
Debt Instrument [Line Items]
Debt face amount	$ 33,750,000
Interest rate	10.00%
Long-term debt, gross	$ 0		16,812,500
Loans payable \| $92,381 loan, with interest at 1.49%, due April 2026.
Debt Instrument [Line Items]
Debt face amount	$ 92,381
Interest rate	1.49%
Long-term debt, gross	$ 71,903		79,249
Loans payable \| $64,136 loan, with interest at 11.85%, due May 2024.
Debt Instrument [Line Items]
Debt face amount	$ 64,136
Interest rate	11.85%
Long-term debt, gross	$ 33,018		39,056
Loans payable \| $196,909 loan, with interest at 6.49%, due May 2024.
Debt Instrument [Line Items]
Debt face amount	$ 196,909
Interest rate	6.49%
Long-term debt, gross	$ 172,684		184,895
Loans payable \| $3,500,000 Promissory Note, with interest at 7.50%, due October 2025.
Debt Instrument [Line Items]
Debt face amount	$ 3,500,000	$ 3,500,000
Interest rate	7.50%
Long-term debt, gross	$ 3,500,000		$ 0

EARNINGS (LOSS) PER SHARE

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

EARNINGS (LOSS) PER SHARE

NOTE 17 – EARNINGS (LOSS) PER SHARE

Basic EPS is computed by dividing the Company’s net income (loss) by the weighted average number of Class A shares of common stock outstanding during the period. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common stock were exercised or converted into common stock or resulted in the issuance of common stock that then shared in the earnings of the entity.


	Three Months Ended
	March 31, 2023		March 31, 2022
Numerator:
Net loss	$	(46,660,562)	$	(32,306,416)
Less: net loss attributable to noncontrolling interest	(18,119,131)		(18,897,638)
Net loss attributable to Stronghold Digital Mining, Inc.	$	(28,541,431)	$	(13,408,778)
Denominator:
Weighted average number of Class A common shares outstanding	43,756,137		20,206,103
Basic net loss per share	$	(0.65)	$	(0.66)
Diluted net loss per share	$	(0.65)	$	(0.66)

Securities that could potentially dilute earnings (loss) per share in the future were not included in the computation of diluted loss per share for the three months ended March 31, 2023, and 2022, because their inclusion would be anti-dilutive. The potentially dilutive impact of Series C Preferred Stock not yet exchanged for shares of Class A common stock totaled 53,930,000 as of March 31, 2023.

Subsequent to March 31, 2023, as described in Note 15 – Private Placements, the Company completed the April 2023 Private Placement, which resulted in an aggregate 10,000,000 shares of common stock and 10,000,000 pre-funded warrants issued to an institutional investor and Greg Beard, the Company's chairman and chief executive officer, in exchange for their investments.

EQUIPMENT DEPOSITS - Schedule of Equipment Deposits (Details)	Mar. 31, 2023 USD ($) miner	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($)	Apr. 02, 2021 USD ($) miner
Unrecorded Unconditional Purchase Obligation [Line Items]
Count (in miners) \| miner	15,000
Total Commitments	$ 68,887,550
Transferred to PP&E	(37,415,271)
Impairment	(17,348,742)
Sold	(8,701,199)
Equipment Deposits	$ 5,422,338	$ 10,081,307
MinerVa, MinerVA
Unrecorded Unconditional Purchase Obligation [Line Items]
Count (in miners) \| miner	15,000			15,000
Total Commitments	$ 68,887,550			$ 73,387,500
Transferred to PP&E	(37,415,271)
Impairment	(17,348,742)	$ (5,120,000)	$ (12,228,742)
Sold	(8,701,199)
Equipment Deposits	$ 5,422,338

EQUIPMENT DEPOSITS

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

EQUIPMENT DEPOSITS

NOTE 4 – EQUIPMENT DEPOSITS

Equipment deposits represent contractual agreements with vendors to deliver and install miners at future dates. The following details the vendor, miner model, miner count, and expected delivery month(s).

In March 2022, the Company evaluated the MinerVa Semiconductor Corp ("MinerVa") equipment deposits for impairment under the provisions of ASC 360, Property, Plant and Equipment. As a result of the evaluation, the Company determined an indicator for impairment was present under ASC 360-10-35-21. The Company undertook a test for recoverability under ASC 360-10-35-29 and a further fair value analysis in accordance with ASC 820, Fair Value Measurement. The difference between the fair value of the MinerVa equipment deposits and the carrying value resulted in the Company recording an impairment charge of $12,228,742 in the first quarter of 2022 and an additional $5,120,000 in the fourth quarter of 2022, as summarized in the table below.

The following table details the total equipment deposits of $5,422,338 as of March 31, 2023:


Vendor	Model	Count	Delivery Timeframe	Total Commitments		Transferred to PP&E [A]		Impairment		Sold		Equipment Deposits
MinerVa	MinerVa MV7	15,000	Oct '21 - TBD	$	68,887,550	$	(37,415,271)	$	(17,348,742)	$	(8,701,199)	$	5,422,338
Totals		15,000		$	68,887,550	$	(37,415,271)	$	(17,348,742)	$	(8,701,199)	$	5,422,338

[A] Miners that are delivered and physically placed in service are transferred to a fixed asset account at the respective unit price as defined in the agreement.

NONCONTROLLING INTEREST - Narrative (Details) - Stronghold LLC - vote	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Number of votes	1
Q Power LLC
Noncontrolling Interest [Line Items]
Ownership interest	38.80%	45.10%

STOCK-BASED COMPENSATION	3 Months Ended
STOCK-BASED COMPENSATION	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 13 – STOCK-BASED COMPENSATION Stock-based compensation expense was $2,449,324 and $2,592,995 for the three months ended March 31, 2023, and 2022, respectively. There was no income tax benefit related to stock-based compensation expense due to the Company having a full valuation allowance recorded against its deferred income tax assets. On March 15, 2023, the Company entered into award agreements with certain executive officers. In total, the executive officers were granted 2,725,000 restricted stock units in exchange for the cancellation of 986,688 stock options and 250,000 performance share units previously granted to the executive officers. All restricted stock units were granted under the Company’s previously adopted Omnibus Incentive Plan, dated October 19, 2021. The Company evaluated this modification under ASC 718, Compensation – Stock Compensation, and determined there was no significant impact on the Company's results of operations for the three months ended March 31, 2023.

REDEEMABLE COMMON STOCK - Narrative (Details) - Stronghold LLC - vote	3 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2022
Temporary Equity [Line Items]
Number of votes	1
Q Power LLC
Temporary Equity [Line Items]
Ownership interest	38.80%	45.10%

SUBSEQUENT EVENTS (Details)	Apr. 27, 2023 miner terahash petahash	Apr. 21, 2023 USD ($) $ / shares shares	Apr. 20, 2023 miner exahash J terahash petahash $ / shares $ / terahash	Sep. 13, 2022	Apr. 30, 2023 $ / shares	Mar. 31, 2023 miner $ / shares	Mar. 28, 2023 $ / shares	Dec. 31, 2022 $ / shares	Sep. 19, 2022 $ / shares shares	May 15, 2022 $ / shares shares
Subsequent Event [Line Items]
Common stock, par value (in USD per share)						$ 0.0001	$ 0.0001	$ 0.0001	$ 0.0001
Warrant exercise price of warrants (in USD per share)										$ 2.50
Warrants issued during period (in shares) \| shares										6,318,000
Number of miners \| miner						15,000
Pre-Funded Warrants
Subsequent Event [Line Items]
Warrant exercise price of warrants (in USD per share)									$ 0.0001
Warrants issued during period (in shares) \| shares									2,725,650
September 2022 Warrants
Subsequent Event [Line Items]
Warrant exercise price of warrants (in USD per share)									$ 1.75
Warrants issued during period (in shares) \| shares									5,602,409
Warrant exercise period				5 years 6 months
September 2022 Warrants \| Greg Beard
Subsequent Event [Line Items]
Warrants issued during period (in shares) \| shares									602,409
Subsequent Event
Subsequent Event [Line Items]
Common stock, par value (in USD per share)		$ 0.0001
Hosting services agreement, term	2 years
Hosting services agreement, number of miners, specified miner type \| miner	2,000
Hosting services agreement, terahash per second, specified miner type (in terahash) \| terahash	110
Hosting services agreement, number of miners, specified miner type \| miner	2,000
Hosting services agreement, terahash per second, specified miner type (in terahash) \| terahash	90
Hosting services agreement, total hash rate, petahash per second (in petahash) \| petahash	400
Hosting services agreement, percentage of revenue for company	50.00%
Hosting services agreement, percentage of net cost of power to be reimbursed by counterparty	55.00%
Hosting services agreement, number of miners received \| miner	2,000
Subsequent Event \| Miner Equipment, MicroBT WhatsMiner M50
Subsequent Event [Line Items]
Number of miners \| miner			5,000
Miner equipment, cost per terahash (in dollars per terahash) \| $ / terahash			15.50
Total exahash per second delivered by equipment purchased (in exahash) \| terahash			118
Total joules per terahash delivered by equipment purchased (in joules) \| J			28.5
Additional hash rate capacity, petahash per second, delivered by equipment purchased (in petahash) \| petahash			600
Percentage of increase in total delivered hash rate capacity			20.00%
Total exahash per second delivered by equipment purchased (in exahash) \| exahash			3.2
Total exahash per second delivered by all equipment purchased once obtained (in exahash) \| exahash			3.5
Subsequent Event \| April 2023 Warrants
Subsequent Event [Line Items]
Warrant exercise price of warrants (in USD per share)		$ 1.10
Period after issuance before warrants are exercisable			6 months
Warrant exercise period			5 years 6 months
Subsequent Event \| April 2023 Warrants \| Institutional Investor
Subsequent Event [Line Items]
Warrants issued during period (in shares) \| shares		9,000,000
Subsequent Event \| April 2023 Warrants \| Greg Beard
Subsequent Event [Line Items]
Warrants issued during period (in shares) \| shares		1,000,000
Subsequent Event \| Pre-Funded Warrants
Subsequent Event [Line Items]
Warrant exercise price of warrants (in USD per share)		$ 0.0001
Subsequent Event \| September 2022 Warrants
Subsequent Event [Line Items]
Warrant exercise price of warrants (in USD per share)			$ 1.01		$ 1.01
Subsequent Event \| Private Placement
Subsequent Event [Line Items]
Sale of stock (in USD per share)		$ 1.00
Sale of stock, consideration received \| $		$ 10,000,000
Subsequent Event \| Private Placement \| Institutional Investor
Subsequent Event [Line Items]
Sale of stock (in USD per share)		$ 1.00
Sale of stock, consideration received \| $		$ 9,000,000
Stock issued and sold during period (in shares) \| shares		9,000,000
Subsequent Event \| Private Placement \| Greg Beard
Subsequent Event [Line Items]
Sale of stock (in USD per share)		$ 1.00
Sale of stock, consideration received \| $		$ 1,000,000
Stock issued and sold during period (in shares) \| shares		1,000,000

ACCRUED LIABILITIES

3 Months Ended

Mar. 31, 2023

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

NOTE 6 – ACCRUED LIABILITIES

Accrued liabilities consisted of the following as of March 31, 2023, and December 31, 2022:


	March 31, 2023		December 31, 2022
Accrued legal and professional fees	$	886,370	$	1,439,544
Accrued interest	2,992		1,343,085
Accrued sales and use tax	5,430,197		5,150,659
Other	793,089		959,960
Accrued liabilities	$	7,112,648	$	8,893,248

EARNINGS (LOSS) PER SHARE - Schedule of Earnings (Loss) per Share (Details) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Numerator:
Net loss	$ (46,660,562)	$ (32,306,416)
Net loss attributable to noncontrolling interest	(18,119,131)	(18,897,638)
Net loss attributable to Stronghold Digital Mining, Inc.	$ (28,541,431)	$ (13,408,778)	$ (13,408,778)
Denominator:
Weighted average number shares of Class A common shares outstanding (in shares)	43,756,137	20,206,103
Earnings per share:
Basic net loss per share (in USD per share)	$ (0.65)	$ (0.66)
Diluted net loss per share (in USD per share)	$ (0.65)	$ (0.66)

The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.

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The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

Property, Plant and Equipment [Abstract]

SEGMENT REPORTING - Narrative (Details)	3 Months Ended
SEGMENT REPORTING - Narrative (Details)	Mar. 31, 2023 segment
Segment Reporting [Abstract]
Number of operating segments	2

PROPERTY, PLANT AND EQUIPMENT (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following as of March 31, 2023, and December 31, 2022:


	Useful Lives (Years)	March 31, 2023		December 31, 2022
Electric plant	10 - 60	$	66,490,600	$	66,295,809
Strongboxes and power transformers	8 - 30	54,588,284		52,318,704
Machinery and equipment	5 - 20	18,131,977		18,131,977
Rolling stock	5 - 7	261,000		261,000
Cryptocurrency machines and powering supplies	2 - 3	86,481,239		81,945,396
Computer hardware and software	2 - 5	17,196		17,196
Vehicles and trailers	2 - 7	659,133		659,133
Construction in progress	Not Depreciable	11,099,409		19,553,826
Asset retirement cost	10 - 30	580,452		580,452
		238,309,290		239,763,493
Accumulated depreciation and amortization		(79,942,606)		(72,558,812)
Property, plant and equipment, net		$	158,366,684	$	167,204,681

BASIS OF PRESENTATION

3 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

BASIS OF PRESENTATION

NOTE 1 – BASIS OF PRESENTATION

The unaudited condensed consolidated balance sheet as of March 31, 2023, the unaudited condensed consolidated statements of operations, stockholders' equity and cash flows for the three months ended March 31, 2023, and 2022, have been prepared by the Company. In the opinion of management, all adjustments, consisting of only normal and recurring adjustments necessary to present fairly the financial position, results of operations and cash flows for the periods presented, have been made. The results of operations for the three months ended March 31, 2023, are not necessarily indicative of the operating results expected for the full year.

The condensed consolidated financial statements should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2022. Certain information and footnote disclosures normally included in the annual financial statements, prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"), have been condensed or omitted. Certain reclassifications of amounts previously reported have been made to the accompanying condensed consolidated financial statements in order to conform to current presentation.

Additionally, since there are no differences between net income (loss) and comprehensive income (loss), all references to comprehensive income (loss) have been excluded from the condensed consolidated financial statements.

Cash and Cash Equivalents

As of March 31, 2023, cash and cash equivalents includes $900,000 of restricted cash, which represents a continuous bond in place of $400,000 to mitigate fees charged by customs brokerage companies associated with importing miners and a $500,000 letter of credit required to finance the Company's directors and officers insurance policy.

Reclassification

During the first quarter of 2023, the Company revised its accounting policy to reclassify the presentation of imported power charges. Imported power charges are now recorded within fuel expenses, whereas they were previously netted against energy revenue. Prior periods have been reclassified to conform to the current period presentation. The reclassification increased 2022 energy revenues and fuel expenses as shown in the table below. The reclassification had no impact on net operating income (loss), earnings per share or equity.


	Three Months Ended
	March 31, 2022		June 30, 2022		September 30, 2022		December 31, 2022
Energy revenues - previously disclosed	$	8,362,801	$	7,129,732	$	11,454,016	$	14,247,688
Reclassification: imported power charges	681,591		561,494		1,617,878		1,329,753
Energy revenues - restated	$	9,044,392	$	7,691,226	$	13,071,894	$	15,577,441

Fuel expenses - previously disclosed	$	9,338,394	$	8,626,671	$	8,466,588	$	2,348,457
Reclassification: imported power charges	681,591		561,494		1,617,878		1,329,753
Fuel expenses - restated	$	10,019,985	$	9,188,165	$	10,084,466	$	3,678,210

Recently Implemented Accounting Pronouncements

In September 2016, the Financial Accounting Standards Board issued ASU 2016-13, Financial Instruments – Credit Losses, which adds a new impairment model, known as the current expected credit loss ("CECL") model, that is based on expected losses rather than incurred losses. Under the new guidance, an entity recognizes an allowance for its estimate of expected credit losses at the initial recognition of an in-scope financial instrument and applies it to most debt instruments, trade receivables, lease receivables, financial guarantee contracts, and other loan commitments. The CECL model does not have a minimum threshold for recognition of impairment losses and entities will need to measure expected credit losses on assets that have a low risk of loss. Since the Company is a smaller reporting company, as defined by the U.S. Securities and Exchange Commission (the "SEC"), the new guidance became effective on January 1, 2023. The Company adopted ASU 2016-13 effective January 1, 2023, but the adoption of ASU 2016-13 did not have an impact on the Company's consolidated financial statements.

Recently Issued Accounting Pronouncements

There have been no recently issued accounting pronouncements applicable to the Company.

EQUIPMENT DEPOSITS (Tables)

3 Months Ended

Mar. 31, 2023

Commitments and Contingencies Disclosure [Abstract]

Equipment Deposits

The following table details the total equipment deposits of $5,422,338 as of March 31, 2023:


Vendor	Model	Count	Delivery Timeframe	Total Commitments		Transferred to PP&E [A]		Impairment		Sold		Equipment Deposits
MinerVa	MinerVa MV7	15,000	Oct '21 - TBD	$	68,887,550	$	(37,415,271)	$	(17,348,742)	$	(8,701,199)	$	5,422,338
Totals		15,000		$	68,887,550	$	(37,415,271)	$	(17,348,742)	$	(8,701,199)	$	5,422,338

[A] Miners that are delivered and physically placed in service are transferred to a fixed asset account at the respective unit price as defined in the agreement.

STOCK-BASED COMPENSATION (Details) - USD ($)		3 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($)	Mar. 15, 2023	Mar. 31, 2023	Mar. 31, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense		$ 2,449,324	$ 2,592,995
Stock compensation expense, tax benefit		$ 0
Cancelled (in shares)	986,688
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	2,725,000
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cancelled (in shares)	250,000

WARRANTS

3 Months Ended

Mar. 31, 2023

Goodwill and Intangible Assets Disclosure [Abstract]

WARRANTS

NOTE 14 – WARRANTS

The following table summarizes outstanding warrants as of March 31, 2023.


			Number of Warrants
Outstanding as of December 31, 2022			15,875,106
Issued			3,000,000
Exercised			(5,002,650)
Outstanding as of March 31, 2023			13,872,456

B&M Warrant

On March 28, 2023, as part of the B&M Settlement described in Note 7 – Debt, the Company issued a stock purchase warrant to B&M providing for the right to purchase from the Company 3,000,000 shares of Class A common stock, par value $0.0001 per share, at an exercise price of $0.0001 per warrant share.

May 2022 Private Placement

On May 15, 2022, the Company entered into a note and warrant purchase agreement, by and among the Company and the purchasers thereto, whereby the Company agreed to issue and sell (i) $33,750,000 aggregate principal amount of 10.00% unsecured convertible promissory notes and (ii) warrants representing the right to purchase up to 6,318,000 shares of Class A common stock of the Company with an exercise price per share equal to $2.50. The promissory notes and warrants were sold for aggregate consideration of approximately $27 million.

On August 16, 2022, the Company amended the note and warrant purchase agreement, such that $11.25 million of the outstanding principal was exchanged for the execution of an amended and restated warrant agreement pursuant to which the strike price of the 6,318,000 warrants was reduced from $2.50 to $0.01. Refer to Note 15 – Private Placements for additional details.

During the three months ended March 31, 2023, 2,277,000 of warrants issued in connection with the May 2022 Private Placement, or subsequent transactions associated with the unsecured convertible promissory notes, were exercised.

September 2022 Private Placement

On September 13, 2022, the Company entered into Securities Purchase Agreements with Armistice Capital Master Fund Ltd. ("Armistice") and Greg Beard, the Company's chairman and chief executive officer, for the purchase and sale of 2,274,350 and 602,409 shares of Class A common stock, respectively, and warrants to purchase an aggregate of 5,602,409 shares of Class A common stock, at an initial exercise price of $1.75 per share. Refer to Note 15 – Private Placements for additional details. As part of the transaction, Armistice purchased the pre-funded warrants for 2,725,650 shares of Class A

common stock at a purchase price of $1.60 per warrant. The pre-funded warrants have an exercise price of $0.0001 per warrant share.

As of and during the three months ended March 31, 2023, the pre-funded warrants for 2,725,650 shares of Class A common stock have been exercised.

In April 2023, the Company, Armistice and Mr. Beard entered into amendments to, among other things, adjust the strike price of the remaining outstanding warrants from $1.75 per share to $1.01 per share. Refer to Note 15 – Private Placements for additional details.

April 2023 Private Placement

On April 20, 2023, the Company entered into Securities Purchase Agreements with an institutional investor and Greg Beard for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $1.00 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $1.10 per share (the “April 2023 Private Placement”). Pursuant to the Securities Purchase Agreements, the institutional investor invested $9.0 million in exchange for an aggregate of 9,000,000 shares of Class A common stock and pre-funded warrants, and Mr. Beard invested $1.0 million in exchange for an aggregate of 1,000,000 shares of Class A common stock, in each case at a price of $1.00 per share equivalent. Further, the institutional investor and Mr. Beard received warrants exercisable for 9,000,000 shares and 1,000,000 shares, respectively, of Class A common stock. Refer to Note 15 – Private Placements for additional details.

DIGITAL CURRENCIES

3 Months Ended

Mar. 31, 2023

DIGITAL CURRENCIES

NOTE 2 – DIGITAL CURRENCIES


	March 31, 2023		March 31, 2022
Digital currencies at beginning of period	$	109,827	$	10,417,865
Additions of digital currencies	12,921,075		18,204,193
Realized gain on sale of digital currencies	326,768		751,110
Impairment losses	(71,477)		(2,506,172)
Proceeds from sale of digital currencies	(12,613,341)		(12,998,410)
Digital currencies at end of period	$	672,852	$	13,868,586

ACCRUED LIABILITIES (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Other Accrued Liabilities:
Accrued legal and professional fees	$ 886,370	$ 1,439,544
Accrued interest	2,992	1,343,085
Accrued sales and use tax	5,430,197	5,150,659
Other	793,089	959,960
Accrued liabilities	$ 7,112,648	$ 8,893,248

DIGITAL CURRENCIES (Details) - USD ($)	3 Months Ended
DIGITAL CURRENCIES (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Indefinite-lived Intangible Assets [Line Items]
Digital currencies	$ 672,852		$ 109,827
Indefinite-lived Intangible Assets [Roll Forward]
Realized gain on sale of digital currencies	326,768	$ 751,110
Impairment losses	(71,477)	(2,506,172)
Digital currencies
Indefinite-lived Intangible Assets [Roll Forward]
Digital currencies at beginning of period	109,827	10,417,865
Additions of digital currencies	12,921,075	18,204,193
Realized gain on sale of digital currencies	326,768	751,110
Impairment losses	(71,477)	(2,506,172)
Proceeds from sale of digital currencies	(12,613,341)	(12,998,410)
Digital currencies at end of period	$ 672,852	$ 13,868,586

REDEEMABLE COMMON STOCK

3 Months Ended

Mar. 31, 2023

Temporary Equity Disclosure [Abstract]

REDEEMABLE COMMON STOCK

NOTE 11 – REDEEMABLE COMMON STOCK

The Company recorded redeemable common stock as presented in the table below.


	Common - Class V
	Shares	Amount
Balance - December 31, 2022	26,057,600	$	11,754,587
Net loss attributable to noncontrolling interest	—	(18,119,131)
Maximum redemption right valuation	—	21,863,763
Balance - March 31, 2023	26,057,600	$	15,499,219

NOTE 15 – PRIVATE PLACEMENTS

May 2022 Private Placement

common stock, in each case, at a twenty percent (20%) discount to the average of the daily VWAPs for each of the twenty (20) consecutive trading days preceding the payment date.

Series C Convertible Preferred Stock

September 2022 Private Placement


	March 31, 2023
Expected volatility	132.1		%
Expected life (in years)	5.50
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	2,846,548

April 2023 Private Placement

Related Party Transactions

RELATED-PARTY TRANSACTIONS (Tables)

3 Months Ended

Mar. 31, 2023

Amounts due to related parties as of March 31, 2023, and December 31, 2022, were as follows:


	March 31, 2023		December 31, 2022
Coal Valley Properties, LLC	$	134,452	$	134,452
Q Power LLC	500,000		500,000
Coal Valley Sales, LLC	—		—
Panther Creek Energy Services LLC	90,483		10,687
Panther Creek Fuel Services LLC	687		53,482
Northampton Generating Fuel Supply Company, Inc.	886,135		594,039
Olympus Power LLC and other subsidiaries	758		78,302
Scrubgrass Energy Services LLC	—		4,087
Scrubgrass Fuel Services LLC	—		—
Due to related parties	$	1,612,515	$	1,375,049

PRIVATE PLACEMENTS - Narrative (Details)								3 Months Ended
PRIVATE PLACEMENTS - Narrative (Details)	Apr. 21, 2023 USD ($) $ / shares shares	Apr. 20, 2023 USD ($) $ / shares shares	Feb. 20, 2023 USD ($) $ / shares shares	Sep. 19, 2022 $ / shares shares	Sep. 13, 2022 USD ($)	Aug. 16, 2022 USD ($) day $ / shares shares	May 15, 2022 USD ($) $ / shares shares	Mar. 31, 2023 $ / shares shares	Apr. 30, 2023 $ / shares	Mar. 28, 2023 $ / shares	Dec. 31, 2022 $ / shares	Aug. 15, 2022 $ / shares
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares							6,318,000
Warrant exercise price of warrants (in USD per share)							$ 2.50
Proceeds from private placement \| $							$ 27,000,000
Purchase agreement, discount percentage						20.00%
Purchase agreement, consecutive trading days after payment (in days) \| day						20
Issuance of Series C convertible preferred stock (in shares) \| shares			23,102
Preferred stock, par value (in USD per share)			$ 0.0001					$ 0.0001			$ 0.0001
Common stock, par value (in USD per share)				$ 0.0001				$ 0.0001		$ 0.0001	$ 0.0001
Proceeds from issuance of common stock \| $					$ 9,000,000
Subsequent Event
Debt Instrument [Line Items]
Common stock, par value (in USD per share)	$ 0.0001
Preferred Stock
Debt Instrument [Line Items]
Issuance of Series C convertible preferred stock (in shares) \| shares								23,102
Conversion of Series C convertible preferred stock (in shares) \| shares			(1,530)					(1,530)
Common Stock
Debt Instrument [Line Items]
Conversion of Series C convertible preferred stock (in shares) \| shares			3,825,000					3,825,000
May 2022 Warrants
Debt Instrument [Line Items]
Warrant exercise period							5 years
September 2022 Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares				5,602,409
Warrant exercise price of warrants (in USD per share)				$ 1.75
Warrant exercise period					5 years 6 months
September 2022 Warrants \| Greg Beard
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares				602,409
September 2022 Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrant exercise price of warrants (in USD per share)		$ 1.01							$ 1.01
Pre-Funded Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares				2,725,650
Warrant exercise price of warrants (in USD per share)				$ 0.0001
Warrant purchase price (in USD per share)				$ 1.60
Pre-Funded Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrant exercise price of warrants (in USD per share)	0.0001
April 2023 Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrant exercise price of warrants (in USD per share)	$ 1.10
Warrant exercise period		5 years 6 months
Period after issuance before warrants are exercisable		6 months
April 2023 Warrants \| Subsequent Event \| Institutional Investor
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares	9,000,000
April 2023 Warrants \| Subsequent Event \| Greg Beard
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares	1,000,000
Note Warrant
Debt Instrument [Line Items]
Stock issued and sold during period (in shares) \| shares						6,318,000
Share price (in USD per share)						$ 0.01						$ 2.50
Private Placement With Armistice Capital Master Fund Ltd.
Debt Instrument [Line Items]
Stock issued and sold during period (in shares) \| shares				2,274,350
Sale of stock (in USD per share)				$ 1.60
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer
Debt Instrument [Line Items]
Stock issued and sold during period (in shares) \| shares				602,409
Sale of stock (in USD per share)				$ 1.66
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| Subsequent Event
Debt Instrument [Line Items]
Stock issued and sold during period (in shares) \| shares		1,000,000
Sale of stock, consideration received \| $		$ 1,000,000
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| Pre-Funded Warrants \| Subsequent Event
Debt Instrument [Line Items]
Warrants issued during period (in shares) \| shares		1,000,000
Private Placement \| Subsequent Event
Debt Instrument [Line Items]
Sale of stock (in USD per share)	$ 1.00
Sale of stock, consideration received \| $	$ 10,000,000
Private Placement \| Subsequent Event \| Institutional Investor
Debt Instrument [Line Items]
Stock issued and sold during period (in shares) \| shares	9,000,000
Sale of stock (in USD per share)	$ 1.00
Sale of stock, consideration received \| $	$ 9,000,000
Private Placement \| Subsequent Event \| Greg Beard
Debt Instrument [Line Items]
Stock issued and sold during period (in shares) \| shares	1,000,000
Sale of stock (in USD per share)	$ 1.00
Sale of stock, consideration received \| $	$ 1,000,000
Unsecured Debt \| Unsecured Convertible Promissory Notes
Debt Instrument [Line Items]
Debt face amount \| $						$ 11,250,000	$ 33,750,000
Interest rate							10.00%
Conversion ratio, denominator (in USD per share)			$ 1,000
Conversion price (in USD per share)			0.40
Convertible, liquidation preference (in USD per share)			$ 1,000
Principal and interest settled upon issuance of equity \| $			$ 17,893,750

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2023
Income Tax Disclosure [Abstract]
INCOME TAXES	NOTE 18 – INCOME TAXES Tax Receivable Agreement The Company entered into a Tax Receivable Agreement (“TRA”) with Q Power and an agent named by Q Power on April 1, 2021 (to which an additional holder was subsequently joined as an additional "TRA Holder" on March 14, 2023), pursuant to which the Company will pay the TRA Holders 85% of the realized (or, in certain circumstances, deemed to be realized) cash tax savings attributable to the tax basis step-ups arising from taxable exchanges of units and certain other items. During 2022, a taxable exchange of Stronghold LLC units, together with a corresponding number of Class V common shares by Q Power for Class A common stock of the Company, resulted in adjustments to the tax basis of Stronghold LLC’s assets. Such step-ups in tax basis, which were allocated to Stronghold Inc., are expected to increase Stronghold Inc.’s tax depreciation, amortization and/or other cost recovery deductions, which may reduce the amount of tax Stronghold Inc. would otherwise be required to pay in the future. No cash tax savings have been realized by Stronghold Inc. with respect to these basis adjustments due to the Company’s estimated taxable losses, and the realization of cash tax savings in the future is dependent, in part, on estimates of sufficient future taxable income. As such, a deferred income tax asset has not been recorded due to maintaining a valuation allowance on the Company’s deferred income tax assets, and no liability has been recorded with respect to the TRA in light of the applicable criteria for accrual. Estimating the amount and timing of Stronghold Inc.'s realization of income tax benefits subject to the TRA is imprecise and unknown at this time and will vary based on a number of factors, including when future redemptions actually occur. Accordingly, the Company has not recorded any deferred income tax asset or liability associated with the TRA. Provision for Income Taxes The provision for income taxes for the three months ended March 31, 2023, and 2022, was zero, resulting in an effective income tax rate of zero. The difference between the statutory income tax rate of 21% and the Company’s effective tax rate for the three months ended March 31, 2023, and 2022, was primarily due to pre-tax losses attributable to the noncontrolling interest and due to maintaining a valuation allowance against the Company’s deferred income tax assets. The determination to record a valuation allowance was based on management’s assessment of all available evidence, both positive and negative, supporting realizability of the Company’s net operating losses and other deferred income tax assets, as required by ASC 740, Income Taxes. In light of the criteria under ASC 740 for recognizing the tax benefit of deferred income tax assets, the Company maintained a valuation allowance against its federal and state deferred income tax assets as of March 31, 2023, and December 31, 2022.

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 17
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-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-SubTopic 10
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-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
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-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32705-109319

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 270
-Section 50
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-URI https://asc.fasb.org/extlink&oid=6424409&loc=d3e44925-109338

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-URI https://asc.fasb.org/topic&trid=2144680

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
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-Section S99
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-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690