0001628280-24-047680 | 10-Q | XBRL Viewer | Stronghold Digital Mining INC

RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2024

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 $413,500 and $195,161 for the three months ended September 30, 2024, and 2023, respectively, and $1,036,977 and $495,161 for the nine months ended September 30, 2024 and 2023, 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 September 30, 2024, and December 31, 2023, 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 expired on December 31, 2023. The Company expensed $0 and $324,925 for the three months ended September 30, 2024, and 2023, respectively, and $1,442,640 and $2,406,726 for the nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023, below.

Effective February 13, 2024, the Company terminated its Omnibus Services Agreement with Olympus Power, and therefore, Northampton is no longer a related party entity.

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 Panther Creek Plant. The Company reimburses Panther Creek Energy Services LLC for actual wages and salaries. The Company expensed $0 and $2,093 for the three months ended September 30, 2024, and 2023, respectively, and $0 and $929,942 for the nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023, below.

Effective February 13, 2024, the Company terminated its Omnibus Services Agreement with Olympus Power, and therefore, Panther Creek Fuel Services LLC is no longer a related party entity.

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 Panther Creek Plant. The Company reimburses Scrubgrass Energy Services LLC for actual wages and salaries. The Company expensed $0 and $0 for the three months ended September 30, 2024, and 2023, respectively, and $0 and $374,944 for the nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023, below.

Effective February 13, 2024, the Company terminated its Omnibus Services Agreement with Olympus Power, and therefore, Scrubgrass Fuel Services, LLC is no longer a related party entity.

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 provided certain operations and maintenance services to Stronghold LLC and employed certain personnel to operate the Plants. Stronghold LLC reimbursed 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 were to 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 was 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 was 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 $30,000 and $133,499 for the three months ended September 30, 2024, and 2023, respectively, and $90,000 and $603,563 for the nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023, below. On February 13, 2024, Stronghold LLC and Olympus Services entered into a Termination and Release Agreement (the “Termination and Release”) whereby the Omnibus Services Agreement was terminated. The Termination and Release contained a mutual

customary release. The Company expects to continue to pay Olympus Power LLC $10,000 per month for ongoing assistance at each of the Scrubgrass Plant and Panther Creek Plant.

As disclosed above, effective February 13, 2024, the Company terminated its Omnibus Services Agreement with Olympus Power, and therefore, Olympus Power LLC is no longer a related party entity.

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 Panther Creek Plant. 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 $0 and $10,337 for the three months ended September 30, 2024, and 2023, respectively, and $0 and $1,856,501 for the nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023, 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. Effective November 1, 2023, Stronghold LLC no longer pays Olympus Stronghold Services a management fee for the Panther Creek Plant.

Effective February 13, 2024, the Company terminated its Omnibus Services Agreement with Olympus Power, and therefore, Panther Creek Energy Services LLC is no longer a related party entity.

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 Scrubgrass Plant. 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 $0 and $0 for the three months ended September 30, 2024, and 2023, respectively, and $0 and $2,269,290 for the nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023, 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.

Effective February 13, 2024, the Company terminated its Omnibus Services Agreement with Olympus Power, and therefore, Scrubgrass Energy Services, LLC is no longer a related party entity.

Management Services Agreement

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 (the "Spence Consulting Agreement"), Mr. Spence's annualized management fee 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

consulting and advisory agreement with Mr. Spence 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 250,000 fully vested shares of the Company's Class A common stock, which was recorded as stock-based compensation in the second quarter of 2023.

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 60,241 shares of Class A common stock and warrants to purchase 60,241 shares of Class A common stock, at an initial exercise price of $17.50 per share, subsequently amended to $10.10 per share and then $7.51 per share. Refer to Note 15 – Equity Issuances for additional details.

Additionally, on April 20, 2023, Mr. Beard invested $1.0 million in exchange for 100,000 shares of Class A common stock and 100,000 pre-funded warrants. Refer to Note 15 – Equity Issuances for additional details.

Amounts due to related parties as of September 30, 2024, and December 31, 2023, were as follows:


	September 30, 2024		December 31, 2023


Coal Valley Sales, LLC	$	1,265,862	$	433,195
Panther Creek Operating LLC	—		14,511


Northampton Generating Fuel Supply Company, Inc.	—		226,951
Olympus Power LLC and other subsidiaries	—		44,181


William Spence	183,333		—
Due to related parties	$	1,449,195	$	718,838

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(g)(3))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

EARNINGS (LOSS) PER SHARE

9 Months Ended

Sep. 30, 2024

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.

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 and nine months ended September 30, 2024, and 2023.


	Three Months Ended				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Numerator:
Net loss	$	(22,670,592)	$	(22,311,913)	$	(38,095,300)	$	(80,664,604)
Less: net loss attributable to noncontrolling interest	(3,181,407)		(5,188,727)		(5,588,300)		(26,663,731)
Net loss attributable to Stronghold Digital Mining, Inc.	$	(19,489,185)	$	(17,123,186)	$	(32,507,000)	$	(54,000,873)
Denominator:
Weighted average number of Class A common shares outstanding	14,594,955		7,569,511		14,319,202		6,047,891
Basic net loss per share	$	(1.34)	$	(2.26)	$	(2.27)	$	(8.93)
Diluted net loss per share	$	(1.34)	$	(2.26)	$	(2.27)	$	(8.93)

Securities that could potentially dilute earnings (loss) per share in the future were not included in the computation of diluted net loss per share for the three and nine months ended September 30, 2024, and 2023, because their inclusion would be anti-dilutive. As of September 30, 2024, the potentially dilutive impact of Series C Preferred Stock not yet exchanged for shares of Class A common stock was 1,497,500, the potentially dilutive impact of Class V shares not yet exchanged for shares of Class A common stock was 2,405,760, and the potentially dilutive impact of outstanding warrants (excluding those with a $0.01 exercise price) was 3,865,910.

RELATED PARTY TRANSACTIONS - Narrative (Details)												1 Months Ended	3 Months Ended		9 Months Ended		23 Months Ended
RELATED PARTY TRANSACTIONS - Narrative (Details)	Feb. 13, 2024 USD ($)	Apr. 20, 2023 USD ($) $ / shares shares	Apr. 19, 2023 USD ($)	Oct. 01, 2022 USD ($)	Sep. 19, 2022 $ / shares shares	Sep. 13, 2022 $ / shares shares	Jul. 09, 2022 USD ($)	Feb. 01, 2022 USD ($)	Nov. 02, 2021 USD ($)	Aug. 02, 2021 USD ($)	Jul. 09, 2021 USD ($)	Apr. 30, 2023 $ / shares shares	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) $ / T owner T	Sep. 30, 2023 USD ($)	Oct. 01, 2023 USD ($)	Jan. 31, 2024 $ / shares	Jan. 29, 2024 $ / shares	Dec. 31, 2023 $ / shares
Related Party Transaction [Line Items]
Fuel													$ 6,500,292	$ 8,556,626	$ 19,709,424	$ 22,262,141
Operations and maintenance													$ 4,998,609	6,961,060	$ 22,321,981	24,206,080
September 2022 Warrants
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares						560,241
Exercise price of warrants (in USD per share) \| $ / shares		$ 10.10			$ 17.50	$ 17.50						$ 10.10						$ 7.51	$ 7.51	$ 7.00
April 2023 Pre-Funded Warrants
Related Party Transaction [Line Items]
Exercise price of warrants (in USD per share) \| $ / shares		$ 0.001
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					60,241	60,241
Q Power LLC \| Coal Reclamation Partnership
Related Party Transaction [Line Items]
Ownership percentage by noncontrolling owners													16.26%		16.26%
Chief Executive Officer \| September 2022 Warrants
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares						60,241
Exercise price of warrants (in USD per share) \| $ / shares						$ 17.50						$ 10.10
Chief Executive Officer \| 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		100,000				60,241
Sale of stock, gross proceeds		$ 1,000,000
Chief Executive Officer \| Private placement With Greg Beard, Co-Chairman And Chief Executive Officer \| April 2023 Pre-Funded Warrants
Related Party Transaction [Line Items]
Warrants issued during period (in shares) \| shares		100,000
Independent Consulting Agreement, Management Fee Before Adjustment
Related Party Transaction [Line Items]
Related party transaction amount			$ 600,000
Independent Consulting Agreement, Management Fee After Adjustment
Related Party Transaction [Line Items]
Related party transaction amount			$ 200,000
Related party transaction, percentage			0.10
Independent Consulting Agreement \| Related Party
Related Party Transaction [Line Items]
Options granted (in shares) \| shares												250,000
Coal Valley Sales, LLC \| Waste Coal Agreement (the “WCA”) \| Related Party
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
Fuel													$ 413,500	195,161	$ 1,036,977	495,161
Coal Valley Properties, LLC \| Coal Valley Properties, LLC
Related Party Transaction [Line Items]
Number of owners \| owner															1
Northampton Fuel Supply Company, Inc. (“NFS”) \| Fuel Service and Beneficial Use Agreement ("FBUA") \| Related Party
Related Party Transaction [Line Items]
Fuel													0	324,925	$ 1,442,640	2,406,726
Panther Creek Fuel Services LLC \| Fuel Management Agreement \| Related Party
Related Party Transaction [Line Items]
Operations and maintenance													0	2,093	0	929,942
Scrubgrass Fuel Services LLC \| Fuel Management Agreement \| Related Party
Related Party Transaction [Line Items]
Operations and maintenance													0	0	0	374,944
Olympus Stronghold Services, LLC \| Management Fee \| Related Party
Related Party Transaction [Line Items]
Related party transaction amount																	$ 1,000,000
Olympus Stronghold Services, LLC \| Mobilization Fee \| Related Party
Related Party Transaction [Line Items]
Related party transaction amount									$ 150,000
Olympus Stronghold Services, LLC \| Management Fee, Panther Creek Plant
Related Party Transaction [Line Items]
Related party transaction amount				$ 500,000											1,000,000
Olympus Stronghold Services, LLC \| Termination of Omnibus Services Agreement \| Related Party
Related Party Transaction [Line Items]
Related party, ongoing monthly assistance	$ 10,000
William Spence \| Management Services Agreement \| Related Party
Related Party Transaction [Line Items]
Related party transaction amount													30,000	133,499	90,000	603,563
Panther Creek Energy Services LLC \| Management Fee
Related Party Transaction [Line Items]
Related party transaction amount										$ 175,000
Panther Creek Energy Services LLC \| Operations and Maintenance Agreement \| Related Party
Related Party Transaction [Line Items]
Related party transaction amount							$ 325,000				$ 250,000		0	10,337	0	1,856,501
Related party transaction, period											12 months
Scrubgrass Energy Services LLC \| Management Fee \| Related Party
Related Party Transaction [Line Items]
Related party transaction amount							$ 325,000	$ 175,000			$ 250,000
Related party transaction, period											12 months
Scrubgrass Energy Services LLC \| Operations and Maintenance Agreement \| Related Party
Related Party Transaction [Line Items]
Operations and maintenance													$ 0	$ 0	$ 0	$ 2,269,290

NONCONTROLLING INTERESTS - Narrative (Details) - Stronghold LLC - vote	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Number of votes	1
Q Power LLC
Noncontrolling Interest [Line Items]
Ownership interest	14.00%	17.80%

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (38,095,300)	$ (80,664,604)
Adjustments to reconcile net loss to cash flows from operating activities:
Depreciation and amortization	27,428,863	26,025,021
Accretion of asset retirement obligation	41,230	39,153
Loss on disposal of fixed assets	2,189,252	108,367
Realized loss on sale of miner assets	494,087	0
Change in value of accounts receivable	399,192	1,867,506
Amortization of debt issuance costs	154,419	161,093
Stock-based compensation	5,093,193	7,603,859
Loss on debt extinguishment	0	28,960,947
Impairments on equipment deposits	0	5,422,338
Changes in fair value of warrant liabilities	(8,445,247)	(5,580,453)
Non-cash adjustments for loss contingencies	5,253,238	0
Other	584,510	(229,485)
(Increase) decrease in digital currencies:
Mining revenue	(51,963,137)	(43,778,958)
Net proceeds from sale of digital currencies	54,737,513	42,563,545
Unrealized gain on digital currencies	(113,438)	0
Impairments on digital currencies	0	683,241
(Increase) decrease in assets:
Accounts receivable	(1,133,062)	8,129,033
Prepaid insurance	4,218,459	5,174,903
Due from related parties	(211,870)	(91,617)
Inventory	1,381,634	1,328,373
Other assets	(896,572)	9,666
Increase (decrease) in liabilities:
Accounts payable	(643,132)	(1,445,109)
Due to related parties	730,357	(239,230)
Accrued liabilities	(543,442)	875,203
Other liabilities, including contract liabilities	7,888,095	(211,225)
NET CASH FLOWS PROVIDED BY (USED IN) OPERATING ACTIVITIES	8,548,842	(3,288,433)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant and equipment	(749,528)	(14,743,269)
Proceeds from sale of property, plant and equipment, including CIP	221,212	0
NET CASH FLOWS USED IN INVESTING ACTIVITIES	(528,316)	(14,743,269)
CASH FLOWS FROM FINANCING ACTIVITIES:
Repayments of debt	(3,668,304)	(3,196,644)
Repayments of financed insurance premiums	(4,075,388)	(5,250,538)
Proceeds from debt, net of issuance costs paid in cash	0	(147,385)
Proceeds from private placements, net of issuance costs paid in cash	0	9,824,567
Proceeds from ATM, net of issuance costs paid in cash	0	8,483,982
Proceeds from exercise of warrants	0	316
NET CASH FLOWS (USED IN) PROVIDED BY FINANCING ACTIVITIES	(7,743,692)	9,714,298
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	276,834	(8,317,404)
CASH AND CASH EQUIVALENTS - BEGINNING OF PERIOD	4,214,613	13,296,703
CASH AND CASH EQUIVALENTS - END OF PERIOD	$ 4,491,447	$ 4,979,299

WARRANTS

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

WARRANTS

NOTE 14 – WARRANTS

The following table summarizes outstanding warrants as of September 30, 2024.


			Number of Warrants
Outstanding as of December 31, 2023			5,277,985
Issued			—
Exercised			(1,300,000)
Outstanding as of September 30, 2024			3,977,985

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 227,435 and 60,241 shares of Class A common stock, respectively, and warrants to purchase an aggregate of 560,241 shares of Class A common stock, at an initial exercise price of $17.50 per share. Refer to Note 15 – Equity Issuances for additional details and information regarding subsequent amendments. As part of the transaction, Armistice purchased the pre-funded warrants for 272,565 shares of Class A common stock at a purchase price of $16.00 per warrant. The pre-funded warrants have an exercise price of $0.001 per warrant share.

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 $17.50 per share to $10.10 per share. In December 2023, the Company and Armistice entered into an amendment to, among other things, adjust the strike price of the remaining outstanding warrants from $10.10 per share to $7.00 per share and extend the expiration date through December 31, 2029. Furthermore, in January 2024, the Company and Mr. Beard entered into an amendment to, among other things, adjust the strike price of

the remaining outstanding warrants from $10.10 per share to $7.51 per share. Refer to Note 15 – Equity Issuances for additional details.

As of September 30, 2024, 560,241 warrants issued in connection with the September 2022 Private Placement remained outstanding.

April 2023 Private Placement

On April 20, 2023, the Company entered into Securities Purchase Agreements with an institutional investor and Greg Beard, the Company's chairman and chief executive officer, for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $10.00 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $11.00 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 900,000 shares of Class A common stock and pre-funded warrants, and Mr. Beard invested $1.0 million in exchange for an aggregate of 100,000 shares of Class A common stock, in each case at a price of $10.00 per share equivalent. Further, the institutional investor and Mr. Beard received warrants exercisable for 900,000 shares and 100,000 shares, respectively, of Class A common stock. Refer to Note 15 – Equity Issuances for additional details.

In January 2024, the Company and Mr. Beard entered into an amendment to, among other things, adjust the strike price of the remaining outstanding warrants from $11.00 per share to $7.51 per share. Refer to Note 15 – Equity Issuances for additional details.

As of September 30, 2024, warrants exercisable for a total of 1,000,000 shares of Class A common stock remained outstanding.

December 2023 Private Placement

On December 21, 2023, the Company entered into a Securities Purchase Agreement with an institutional investor for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $6.71 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $7.00 per share. Pursuant to the Securities Purchase Agreement, the institutional investor invested $15.4 million in exchange for an aggregate of 2,300,000 shares of Class A common stock and pre-funded warrants at a price of $6.71 per share equivalent. Further, the institutional investor received warrants exercisable for 2,300,000 shares of Class A common stock. Refer to Note 15 – Equity Issuances for additional details.

During the three months ended September 30, 2024, the institutional investor exercised all 1,300,000 of its pre-funded warrants for an approximately equal amount of shares of Class A common stock. As of September 30, 2024, warrants exercisable for a total of 2,300,000 shares of Class A common stock remained outstanding.

RELATED PARTY TRANSACTIONS - Schedule of Amounts Due to Related Parties (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Related Party Transaction [Line Items]
Due to related parties	$ 1,449,195	$ 718,838
Coal Valley Sales, LLC
Related Party Transaction [Line Items]
Due to related parties	1,265,862	433,195
Panther Creek Operating LLC
Related Party Transaction [Line Items]
Due to related parties	0	14,511
Northampton Generating Fuel Supply Company, Inc.
Related Party Transaction [Line Items]
Due to related parties	0	226,951
Olympus Power LLC and other subsidiaries
Related Party Transaction [Line Items]
Due to related parties	0	44,181
William Spence
Related Party Transaction [Line Items]
Due to related parties	$ 183,333	$ 0

DEBT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Total debt consisted of the following as of September 30, 2024, and December 31, 2023:


	September 30, 2024		December 31, 2023
$499,520 loan, with interest at 2.74%, due February 2024.	$	—	$	26,522

$517,465 loan, with interest at 4.79%, due November 2024.	30,766		158,027
$119,000 loan, with interest at 7.40%, due December 2026.	95,942		119,000
$384,055 loan, with interest at 5.25%, due June 2029.	367,147		—
$585,476 loan, with interest at 4.99%, due November 2025.	214,320		345,665
$431,825 loan, with interest at 7.60%, due April 2024.	—		31,525
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025.	49,341,042		51,060,896

$92,381 loan, with interest at 1.49%, due April 2026.	39,162		56,470
$64,136 loan, with interest at 11.85%, due May 2024.	—		13,795
$196,909 loan, with interest at 6.49%, due October 2025.	95,124		134,845
$249,037 loan, with interest at 4.49%, due April 2029	226,569		—
$60,679 loan, with interest at 7.60%, due March 2025.	35,963		48,672
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025.	3,000,000		3,000,000
$1,184,935 Promissory Note, due June 2024.	—		592,468
$552,024 Promissory Note, due July 2024.	—		552,024
Total outstanding borrowings	$	53,446,035	$	56,139,909

Current portion of long-term debt, net of discounts and issuance fees	19,566,519		7,936,147
Long-term debt, net of discounts and issuance fees	$	33,879,516	$	48,203,762

- Definition

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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SEGMENT REPORTING - Results from Operating Segments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Segment Reporting Information [Line Items]
OPERATING REVENUES:	$ 11,168,073	$ 17,726,957	$ 57,794,397	$ 53,226,913
NET OPERATING LOSS:	(17,583,707)	(19,704,936)	(39,807,488)	(49,900,580)
OTHER (EXPENSE) INCOME	(5,086,885)	(2,606,977)	1,712,188	(30,764,024)
NET LOSS	(22,670,592)	(22,311,913)	(38,095,300)	(80,664,604)
DEPRECIATION AND AMORTIZATION:	(8,623,646)	(9,667,213)	(27,428,863)	(26,025,021)
INTEREST EXPENSE:	(2,236,587)	(2,441,139)	(6,748,059)	(7,428,530)
Energy Operations
Segment Reporting Information [Line Items]
OPERATING REVENUES:	546,686	1,252,688	1,611,598	6,266,851
NET OPERATING LOSS:	(5,926,117)	(9,685,721)	(23,002,472)	(29,864,794)
DEPRECIATION AND AMORTIZATION:	(1,359,278)	(1,341,076)	(4,031,499)	(4,004,596)
INTEREST EXPENSE:	(22,056)	(39,007)	(70,721)	(450,472)
Cryptocurrency Operations
Segment Reporting Information [Line Items]
OPERATING REVENUES:	10,621,387	16,474,269	56,182,799	46,960,062
NET OPERATING LOSS:	(11,657,590)	(10,019,215)	(16,805,016)	(20,035,786)
DEPRECIATION AND AMORTIZATION:	(7,264,368)	(8,326,137)	(23,397,364)	(22,020,425)
INTEREST EXPENSE:	$ (2,214,531)	$ (2,402,132)	$ (6,677,338)	$ (6,978,058)

- Definition

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

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-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 40
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-40

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 22
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-4

+ Details

WARRANTS - Narrative (Details) - USD ($) $ / shares in Units, $ in Millions					3 Months Ended	9 Months Ended
	Dec. 21, 2023	Apr. 20, 2023	Sep. 19, 2022	Sep. 13, 2022	Sep. 30, 2024	Sep. 30, 2024	Jan. 31, 2024	Jan. 29, 2024	Dec. 31, 2023	Apr. 30, 2023
Debt Instrument [Line Items]
Warrants outstanding (in shares)					3,977,985	3,977,985			5,277,985
Common stock - Class A, par value (in USD per share)	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001	$ 0.0001			$ 0.0001
Warrants exercised (in shares)						1,300,000
September 2022 Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)				560,241
Exercise price of warrants (in USD per share)		10.10	$ 17.50	$ 17.50			$ 7.51	$ 7.51	$ 7.00	$ 10.10
Warrants outstanding (in shares)					560,241	560,241
September 2022 Pre-Funded Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)				272,565
Exercise price of warrants (in USD per share)				$ 0.001
Warrant purchase price (in USD per share)				$ 16.00
April 2023 Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share)		$ 11.00					$ 7.51
Warrants outstanding (in shares)					1,000,000	1,000,000
April 2023 Warrants \| Institutional Investor
Debt Instrument [Line Items]
Warrants issued during period (in shares)		900,000
April 2023 Warrants \| Greg Beard
Debt Instrument [Line Items]
Warrants issued during period (in shares)		100,000
December 2023 Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share)	$ 7.00				$ 0.01	$ 0.01
Warrants outstanding (in shares)					2,300,000	2,300,000
December 2023 Warrants \| Institutional Investor
Debt Instrument [Line Items]
Warrants issued during period (in shares)	2,300,000
Warrants exercised (in shares)					1,300,000
Private Placement With Armistice Capital Master Fund Ltd.
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)			227,435	227,435
Sale of stock (in USD per share)			$ 16.00
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)			60,241	60,241
Sale of stock (in USD per share)			$ 16.60
Private Placement
Debt Instrument [Line Items]
Sale of stock (in USD per share)	$ 6.71	$ 10.00
Sale of stock, gross proceeds		$ 10.0
Private Placement \| Institutional Investor
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)	2,300,000	900,000
Sale of stock (in USD per share)	$ 6.71	$ 10.00
Sale of stock, gross proceeds	$ 15.4	$ 9.0
Private Placement \| Greg Beard
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)		100,000
Sale of stock (in USD per share)		$ 10.00
Sale of stock, gross proceeds		$ 1.0

REDEEMABLE COMMON STOCK

9 Months Ended

Sep. 30, 2024

Temporary Equity Disclosure [Abstract]

REDEEMABLE COMMON STOCK

NOTE 11 – REDEEMABLE COMMON STOCK

Class V common stock represented 14.0% and 17.8% ownership of Stronghold LLC, as of September 30, 2024, and December 31, 2023, 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 September 30, 2024.

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


	Common - Class V
	Shares	Amount
Balance - December 31, 2023	2,405,760	$	20,416,116
Net loss attributable to noncontrolling interest	—	(5,588,300)

Maximum redemption right valuation	—	(3,291,655)
Balance - September 30, 2024	2,405,760	$	11,536,161

NOTE 15 – EQUITY ISSUANCES

Series C Convertible Preferred Stock

On December 30, 2022, the Company entered into the Exchange Agreement with the Purchasers of the Amended May 2022 Notes whereby the Amended May 2022 Notes were to be exchanged for shares of 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 $4.00 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 382,500 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. As of September 30, 2024, 5,990 shares of the Series C Preferred Stock remain outstanding following the Series D Exchange Agreement described below.

Series D Exchange Agreement

On November 13, 2023, the Company consummated a transaction (the “Series D Exchange Transaction”) pursuant to an exchange agreement, dated November 13, 2023 (the “Series D Exchange Agreement”) with Adage Capital Partners, LP (the “Holder”) whereby the Company issued to the Holder an aggregate of 15,582 shares of a newly created series of preferred stock, the Series D Convertible Preferred Stock, par value $0.0001 per share (the “Series D Preferred Stock”), in exchange for 15,582 shares of Series C Preferred Stock held by the Holder, which represented all of the shares of Series C Preferred Stock held by the Holder. The Series D Preferred Stock contains substantially similar terms as the Series C Preferred Stock except with respect to a higher conversion price. The Series D Exchange Agreement contains representations, warranties, covenants, releases, and indemnities customary for transactions of this type, as well as certain trading volume restrictions. As a result of the Series D Exchange Transaction, the Company recorded a deemed contribution of $20,492,568 resulting from the extinguishment of 15,582 shares of Series C Preferred Stock associated with the Series D Exchange Transaction. The deemed contribution represented the difference between the carrying value of the existing Series C Preferred Stock and the estimated fair value of the newly-issued Series D Preferred Stock. During the first quarter of 2024, the remaining 7,610 shares of Series D Convertible Preferred Stock were converted to 1,414,117 shares of Class A common stock.

During the nine months ended September 30, 2024, the Company incurred $19,637 of final offering costs which has been recorded within additional paid-in capital in the condensed consolidated balance sheet.

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 227,435 and 60,241 shares, respectively, of Class A common stock, par value $0.0001 per share at a purchase price of $16.00 and $16.60, respectively, and warrants to purchase an aggregate of 560,241 shares of Class A common stock, at an initial exercise price of $17.50 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 272,565 shares of Class A common stock at a purchase price of $16.00 per pre-funded warrant. The pre-funded warrants have an exercise price of $0.001 per warrant share. The transaction closed on September 19, 2022. The gross proceeds from the sale of such securities, before deducting offering expenses, were 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 condensed consolidated statements of operations. The fair value of the warrant liabilities was estimated as of September 30, 2024, using a Black-Scholes model with significant inputs as follows:


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	5.25
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	2,446,409

In connection with the closing of the December 2023 Private Placement (discussed below), the Company and Armistice entered into an amendment to, among other things, adjust the strike price of the remaining outstanding warrants from $10.10 per share to $7.00 per share and extend the expiration date through December 31, 2029. Furthermore, in January 2024, the Company and Mr. Beard entered into an amendment to, among other things, adjust the strike price of the remaining outstanding warrants from $10.10 per share to $7.51 per share.

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 $10.00 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $11.00 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 900,000 shares of Class A common stock and pre-funded warrants, and Mr. Beard invested $1.0 million in exchange for an aggregate of 100,000 shares of Class A common stock, in each case at a price of $10.00 per share

equivalent. Further, the institutional investor and Mr. Beard received warrants exercisable for 900,000 shares and 100,000 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 $0.001 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, were approximately $10.0 million. The April 2023 Private Placement closed on April 21, 2023.


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	5.25
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	4,395,995

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 560,241 shares of Class A common stock, at an exercise price of $17.50 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 $17.50 per share to $10.10 per share.

Pursuant to Greg Beard's employment agreement with the Company dated September 6, 2023, Mr. Beard is eligible for an annual bonus if the applicable targets to achieve such annual bonus are met. For Mr. Beard's 2023 annual bonus, on January 29, 2024, the Compensation Committee of the Company amended Mr. Beard's warrants under the September 2022 Private Placement (described above) and the April 2023 Private Placement such that the exercise price of the warrants was adjusted to $7.51.

December 2023 Private Placement

On December 21, 2023, the Company entered into a Securities Purchase Agreement with an institutional investor for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $6.71 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $7.00 per share (the “December 2023 Private Placement”). Pursuant to the Securities Purchase Agreement, the institutional investor invested $15.4 million in exchange for an aggregate of 2,300,000 shares of Class A common stock and pre-funded warrants at a price of $6.71 per share equivalent. Further, the institutional investor received warrants exercisable for 2,300,000 shares of Class A common stock.

ownership limitations. The gross proceeds from the December 2023 Private Placement, before deducting offering expenses, were approximately $15.4 million. The December 2023 Private Placement closed on December 21, 2023.


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	4.75
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	9,922,778

ATM Agreement

On May 23, 2023, the Company entered into an at-the-market offering agreement (the "ATM Agreement") with H.C. Wainwright & Co., LLC ("HCW") to sell shares of its Class A common stock having aggregate sales proceeds of up to $15.0 million (the "ATM Shares"), from time to time, through an "at the market" equity offering program under which HCW acts as sales agent and/or principal.

Pursuant to the ATM Agreement, the ATM Shares may be offered and sold through HCW in transactions that are deemed to be “at the market” offerings as defined in Rule 415 under the Securities Act, including sales made directly on The Nasdaq Stock Market LLC ("Nasdaq") or sales made to or through a market maker other than on an exchange or in negotiated transactions. Under the ATM Agreement, HCW is entitled to compensation equal to 3.0% of the gross proceeds from the sale of the ATM Shares sold through HCW. The Company has no obligation to sell any of the ATM Shares under the ATM Agreement and may at any time suspend solicitations and offers under the ATM Agreement. The Company and HCW may each terminate the ATM Agreement at any time upon specified prior written notice.

The ATM Shares have been and are being issued pursuant to the Company’s shelf registration statement on Form S-3 (File No. 333-271671), filed with the SEC on May 5, 2023, as amended by Amendment No. 1 to the registration statement filed with the SEC on May 23, 2023 (as amended, the “ATM Registration Statement”). Pursuant to the ATM Agreement, no sales may be made until 30 days following the date on which the ATM Registration Statement is declared effective. The ATM Registration Statement was declared effective on May 25, 2023.

During the nine months ended September 30, 2024, the Company sold zero ATM Shares.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 235
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 505
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478448/946-505-50-6

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480237/815-40-50-6

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.3-04)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(e)(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 505
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/505/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 14
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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-Section 50
-Paragraph 18
-Subparagraph (b)
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 18
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

EARNINGS (LOSS) PER SHARE (Tables)

9 Months Ended

Sep. 30, 2024

Earnings Per Share [Abstract]

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


	Three Months Ended				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Numerator:
Net loss	$	(22,670,592)	$	(22,311,913)	$	(38,095,300)	$	(80,664,604)
Less: net loss attributable to noncontrolling interest	(3,181,407)		(5,188,727)		(5,588,300)		(26,663,731)
Net loss attributable to Stronghold Digital Mining, Inc.	$	(19,489,185)	$	(17,123,186)	$	(32,507,000)	$	(54,000,873)
Denominator:
Weighted average number of Class A common shares outstanding	14,594,955		7,569,511		14,319,202		6,047,891
Basic net loss per share	$	(1.34)	$	(2.26)	$	(2.27)	$	(8.93)
Diluted net loss per share	$	(1.34)	$	(2.26)	$	(2.27)	$	(8.93)

EQUITY ISSUANCES - Narrative (Details)									3 Months Ended		9 Months Ended
EQUITY ISSUANCES - Narrative (Details)	Dec. 21, 2023 USD ($) $ / shares shares	Nov. 13, 2023 USD ($) $ / shares shares	May 23, 2023 USD ($)	Apr. 20, 2023 USD ($) $ / shares shares	Feb. 20, 2023 USD ($) $ / shares shares	Dec. 30, 2022	Sep. 19, 2022 USD ($) $ / shares shares	Sep. 13, 2022 $ / shares shares	Sep. 30, 2024 $ / shares shares	Mar. 31, 2024 shares	Sep. 30, 2024 USD ($) $ / shares shares	Sep. 30, 2023 shares	Jun. 30, 2024 shares	Jan. 31, 2024 $ / shares	Jan. 29, 2024 $ / shares	Dec. 31, 2023 $ / shares shares	Jun. 30, 2023 shares	Apr. 30, 2023 $ / shares	Apr. 21, 2023	Dec. 31, 2022 shares
Debt Instrument [Line Items]
Issuance of Series C convertible preferred stock (in shares)					23,102
Deemed contribution from exchange of Series C convertible preferred stock \| $		$ 20,492,568
Common stock - Class A, par value (in USD per share) \| $ / shares	$ 0.0001			$ 0.0001			$ 0.0001		$ 0.0001		$ 0.0001					$ 0.0001
Warrants outstanding (in shares)									3,977,985		3,977,985					5,277,985
Warrants exercised (in shares)											1,300,000
Series D convertible preferred stock
Debt Instrument [Line Items]
Exchange of Series C convertible preferred stock for Series D convertible preferred stock (in shares)		15,582
Preferred stock, par value (in USD per share) \| $ / shares		$ 0.0001							$ 0.0001		$ 0.0001					$ 0.0001
Offering costs incurred \| $											$ 19,637
Series C convertible preferred stock
Debt Instrument [Line Items]
Exchange of Series C convertible preferred stock for Series D convertible preferred stock (in shares)		(15,582)
Preferred stock, par value (in USD per share) \| $ / shares									$ 0.0001		$ 0.0001					$ 0.0001
Preferred Stock
Debt Instrument [Line Items]
Conversion of stock (in shares)					(1,530)
Preferred Stock \| Series D convertible preferred stock
Debt Instrument [Line Items]
Conversion of stock (in shares)										(7,610)	(7,610)
Shares outstanding (in shares)									0		0	0				7,610				0
Exchange of Series C convertible preferred stock for Series D convertible preferred stock (in shares)		15,582
Preferred Stock \| Series C convertible preferred stock
Debt Instrument [Line Items]
Conversion of stock (in shares)												(1,530)
Shares outstanding (in shares)									5,990		5,990	21,572	5,990			5,990	21,572			0
Common Stock
Debt Instrument [Line Items]
Conversion of stock (in shares)					382,500
Shares outstanding (in shares)									14,737,601		14,737,601	7,876,688	12,980,864			11,115,561	6,055,618			3,171,022
Common Stock \| Series D convertible preferred stock
Debt Instrument [Line Items]
Conversion of stock (in shares)										1,414,117	1,414,117
Common Stock \| Series C convertible preferred stock
Debt Instrument [Line Items]
Conversion of stock (in shares)												382,500
September 2022 Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)								560,241
Exercise price of warrants (in USD per share) \| $ / shares				10.10			$ 17.50	$ 17.50						$ 7.51	$ 7.51	$ 7.00		$ 10.10
Exercise period							5 years 6 months
Warrants outstanding (in shares)									560,241		560,241
September 2022 Pre-Funded Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)								272,565
Exercise price of warrants (in USD per share) \| $ / shares								$ 0.001
Warrant purchase price (in USD per share) \| $ / shares								$ 16.00
April 2023 Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share) \| $ / shares				$ 11.00										$ 7.51
Restriction period				6 months
Exercise period																			5 years 6 months
Warrants outstanding (in shares)									1,000,000		1,000,000
April 2023 Warrants \| Institutional Investor
Debt Instrument [Line Items]
Warrants issued during period (in shares)				900,000
April 2023 Warrants \| Greg Beard
Debt Instrument [Line Items]
Warrants issued during period (in shares)				100,000
April 2023 Pre-Funded Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share) \| $ / shares				$ 0.001
December 2023 Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share) \| $ / shares	$ 7.00								$ 0.01		$ 0.01
Restriction period	6 months
Exercise period	5 years 6 months
Warrants outstanding (in shares)									2,300,000		2,300,000
December 2023 Warrants \| Institutional Investor
Debt Instrument [Line Items]
Warrants issued during period (in shares)	2,300,000
Warrants exercised (in shares)									1,300,000
December 2023 Pre-Funded Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share) \| $ / shares	$ 0.001
Private Placement With Armistice Capital Master Fund Ltd.
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)							227,435	227,435
Sale of stock (in USD per share) \| $ / shares							$ 16.00
Private placement With Greg Beard, Co-Chairman And Chief Executive Officer
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)							60,241	60,241
Sale of stock (in USD per share) \| $ / shares							$ 16.60
September 2022 Private Placement
Debt Instrument [Line Items]
Sale of stock, gross proceeds \| $							$ 9,000,000
September 2022 Private Placement \| September 2022 Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)							560,241
Exercise price of warrants (in USD per share) \| $ / shares							$ 17.50
September 2022 Private Placement \| September 2022 Pre-Funded Warrants
Debt Instrument [Line Items]
Exercise price of warrants (in USD per share) \| $ / shares							$ 0.001
September 2022 Private Placement \| April 2023 Pre-Funded Warrants
Debt Instrument [Line Items]
Warrants issued during period (in shares)							272,565
Warrant purchase price (in USD per share) \| $ / shares							$ 16.00
Private Placement
Debt Instrument [Line Items]
Sale of stock (in USD per share) \| $ / shares	$ 6.71			$ 10.00
Sale of stock, gross proceeds \| $				$ 10,000,000
Private Placement \| Institutional Investor
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)	2,300,000			900,000
Sale of stock (in USD per share) \| $ / shares	$ 6.71			$ 10.00
Sale of stock, gross proceeds \| $	$ 15,400,000			$ 9,000,000.0
Private Placement \| Greg Beard
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)				100,000
Sale of stock (in USD per share) \| $ / shares				$ 10.00
Sale of stock, gross proceeds \| $				$ 1,000,000.0
At-The-Market Offering Agreement
Debt Instrument [Line Items]
Sale of stock, potential consideration to be received \| $			$ 15,000,000
Sale of stock, percentage of gross proceeds to counterparty			3.00%
Sale of stock, trigger period after effective date, stock eligible for sale			30 days
December 2023 Private Placement
Debt Instrument [Line Items]
Sale of stock (in USD per share) \| $ / shares	$ 6.71
Sale of stock, gross proceeds \| $	$ 15,400,000
December 2023 Private Placement \| Institutional Investor
Debt Instrument [Line Items]
Stock issued and sold during period (in shares)	2,300,000
Sale of stock (in USD per share) \| $ / shares	$ 6.71
Sale of stock, gross proceeds \| $	$ 15,400,000
Unsecured Convertible Promissory Notes \| Unsecured Debt
Debt Instrument [Line Items]
Conversion ratio						250
Convertible, liquidation preference (in USD per share) \| $ / shares					$ 1,000
Principal and interest settled upon issuance of equity \| $					$ 17,893,750

DEBT

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

DEBT

NOTE 7 – DEBT

Total debt consisted of the following as of September 30, 2024, and December 31, 2023:


	September 30, 2024		December 31, 2023
$499,520 loan, with interest at 2.74%, due February 2024.	$	—	$	26,522

$517,465 loan, with interest at 4.79%, due November 2024.	30,766		158,027
$119,000 loan, with interest at 7.40%, due December 2026.	95,942		119,000
$384,055 loan, with interest at 5.25%, due June 2029.	367,147		—
$585,476 loan, with interest at 4.99%, due November 2025.	214,320		345,665
$431,825 loan, with interest at 7.60%, due April 2024.	—		31,525
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025.	49,341,042		51,060,896

$92,381 loan, with interest at 1.49%, due April 2026.	39,162		56,470
$64,136 loan, with interest at 11.85%, due May 2024.	—		13,795
$196,909 loan, with interest at 6.49%, due October 2025.	95,124		134,845
$249,037 loan, with interest at 4.49%, due April 2029	226,569		—
$60,679 loan, with interest at 7.60%, due March 2025.	35,963		48,672
$3,500,000 Promissory Note, with interest at 7.50%, due October 2025.	3,000,000		3,000,000
$1,184,935 Promissory Note, due June 2024.	—		592,468
$552,024 Promissory Note, due July 2024.	—		552,024
Total outstanding borrowings	$	53,446,035	$	56,139,909

Current portion of long-term debt, net of discounts and issuance fees	19,566,519		7,936,147
Long-term debt, net of discounts and issuance fees	$	33,879,516	$	48,203,762

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”). 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 were not required, with monthly amortization resuming July 31, 2024. However, in December 2023, the Company made two amortization payments of the WhiteHawk Refinancing Agreement that were otherwise due on July 31, 2024, and August 31, 2024. During the third quarter of 2024, the Company resumed the required monthly amortization payments of the WhiteHawk Refinancing Agreement with its payment of the September 2024 amortization payment.

Beginning June 30, 2023, following a five-month holiday, Stronghold LLC began to 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. Consistent with the First Amendment, the Company made loan prepayments of $0 and $217,800 during the three and nine months ended September 30, 2024, respectively. 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 4.00:1.00, 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. On February 15, 2024, the Company and WhiteHawk Capital, as collateral agent and administrative agent, and the other lenders thereto, entered into a Third Amendment to the Credit Agreement (the "Third Amendment") which, among other items, amended the Company’s minimum liquidity requirement to not be less than: (A) until June 30, 2025, $2,500,000 and (B) from and after July 1, 2025, $5,000,000. The Company was in compliance with all applicable covenants under the WhiteHawk Refinancing Agreement as of September 30, 2024.

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 (z) the term SOFR rate plus 1%, plus 9%. Borrowings under the WhiteHawk Refinancing Agreement may also be accelerated in certain circumstances. The average interest rate for borrowings under the WhiteHawk Refinancing Agreement approximated 15.54% and 15.10% for the nine months ended September 30, 2024, and 2023, respectively.

As noted above, the Company's Credit Agreement with its primary lender matures on October 26, 2025. The Company has entered into a merger agreement that is subject to final closing conditions. The merger is considered probable as both the Company's Board of Directors and the acquiring company’s Board of Directors have approved the merger. The plan of merger will pay off the Company's current outstanding borrowings, thereby reducing liquidity needs to enable continuation of operations, as a wholly owned subsidiary of the acquiring company, for the foreseeable future.

Convertible Note Exchange

On December 30, 2022, the Company entered into an exchange agreement with the holders (the “Purchasers”) of the Company’s Amended and Restated 10% Notes (the “Amended May 2022 Notes”), providing for the exchange of the Amended May 2022 Notes (the “Exchange Agreement”) 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 transactions contemplated under the Exchange Agreement were consummated, and the Amended May 2022 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 $28,960,947 during the first quarter of 2023.

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 300,000 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. This subordination agreement became effective on March 28, 2023, with the Second Amendment to the Credit Agreement.

Pursuant to the B&M Note, the first $500,000 of the principal amount of the loan was 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%). As of September 30, 2024, the Company has paid $500,000 of principal pursuant to the B&M Note.

Canaan Promissory Notes

On July 19, 2023, the Company entered into a Sales and Purchase Contract with Canaan Inc. ("Canaan") whereby the Company purchased 2,000 A1346 Bitcoin miners for a total purchase price of $2,962,337. The purchase price was payable to Canaan via an upfront payment of $1,777,402 on or before August 1, 2023, which the Company paid on July 25, 2023, and a promissory note of $1,184,935 due to Canaan in ten (10) equal, interest-free installments on the first day of each consecutive month thereafter until the remaining promissory note balance is fully repaid. The miners were delivered and installed during the third quarter of 2023 at the Company's Panther Creek Plant. As of September 30, 2024, the Company fully repaid the promissory note due to Canaan.

On December 26, 2023, the Company entered into a second Sales and Purchase Contract with Canaan whereby the Company purchased 1,100 A1346 Bitcoin miners for a total purchase price of $1,380,060. The purchase price was payable to Canaan via an upfront payment of $828,036 on or before December 26, 2023, which the Company paid on December 26, 2023, and a promissory note of $552,024 due to Canaan in six (6) equal, interest-free installments on the first day of each consecutive month thereafter, beginning in 2024, until the remaining promissory note balance is fully repaid. The miners were delivered and installed during the first quarter of 2024 at the Company's Scrubgrass Plant. As of September 30, 2024, the Company fully repaid the promissory note due to Canaan.

- Definition

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.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 405
-SubTopic 40
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477092/405-40-50-1

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 835
-SubTopic 30
-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1B
-Subparagraph (i)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 15: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 16: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1C
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 17: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
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-Paragraph 1C
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1C

Reference 18: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1E
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1E

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1I
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 20
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-Section 50
-Paragraph 1I
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1I

+ Details

DEBT - Narrative (Details)							1 Months Ended	3 Months Ended			9 Months Ended		17 Months Ended
DEBT - Narrative (Details)	Dec. 26, 2023 USD ($) $ / bitcoin installment	Jul. 19, 2023 USD ($) $ / bitcoin installment	Jun. 30, 2023 USD ($)	Apr. 30, 2023 USD ($) installment	Feb. 20, 2023 USD ($)	Feb. 06, 2023	Dec. 31, 2023 payment	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($)	Feb. 15, 2024 USD ($)	Mar. 28, 2023 USD ($) transformer shares	Dec. 30, 2022 $ / shares	Oct. 27, 2022 USD ($)
Extinguishment of Debt [Line Items]
Loss on debt extinguishment								$ 0	$ 0		$ 0	$ 28,960,947
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
Loans payable \| Canaan Inc
Extinguishment of Debt [Line Items]
Number of installments \| installment	6	10
Upfront payment	$ 828,036	$ 1,777,402
Promissory note	$ 552,024	$ 1,184,935
Loans payable \| Canaan Inc \| Miner Equipment, A1346 Bitcoin Miners
Extinguishment of Debt [Line Items]
Number of miners purchased \| $ / bitcoin	1,100	2,000
Purchases	$ 1,380,060	$ 2,962,337
$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			58,149,411		$ 58,149,411
Number of amortization payments \| payment							2
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
Loan prepayment								$ 0			$ 217,800
Maximum leverage ratio			4.00
Interest rate								10.00%			10.00%		10.00%
$58,149,411 Credit Agreement, with interest at 10.00% plus SOFR, due October 2025. \| Loans payable \| SOFR
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 \| Federal Funds 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 SOFR \| 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 SOFR \| 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. \| Loans payable \| Until June 30, 2025
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 \| From and After July 1, 2025
Extinguishment of Debt [Line Items]
Minimum liquidity requirement														$ 5,000,000
Amended And Restated 10% Notes \| Loans payable
Extinguishment of Debt [Line Items]
Interest rate																10.00%
Debt extinguished, paid-in-kind					$ 16,900,000
Loss on debt extinguishment										$ 28,960,947
$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		$ 3,500,000		$ 3,500,000
Interest rate								7.50%			7.50%		7.50%
Warrants issued during period (in shares) \| shares															300,000
Repayment of debt													$ 500,000
B&M Note Due October 2025, Tranche One \| Loans payable
Extinguishment of Debt [Line Items]
Debt face amount				$ 500,000
Number of installments \| installment				4
Principal installment				$ 125,000
Secured Debt \| $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																	$ 35,100,000
Line of Credit \| $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																	$ 23,000,000.0
Interest rate during period											15.54%	15.10%

DIGITAL CURRENCIES (Tables)

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Digital Currencies

As of September 30, 2024, the Company held an aggregate amount of $613,949 in digital currencies comprised of unrestricted Bitcoin. Changes in digital currencies consisted of the following for the three and nine months ended September 30, 2024, and 2023:


	Three Months Ended				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Digital currencies at beginning of period	$	253,710	$	1,429,653	$	3,175,595	$	109,827
Additions of digital currencies (1)	9,535,291		15,069,008		51,963,137		43,778,958
Realized gain on sale of digital currencies	719,795		131,706		1,100,214		725,139
Unrealized (loss) gain on digital currencies	(33,783)		—		113,438		—
Impairment losses	—		(357,411)		—		(683,241)
Proceeds from sale of digital currencies	(9,861,064)		(15,630,957)		(55,837,727)		(43,288,684)
Impact of ASU 2023-08 as of January 1, 2024 (2)	—		—		99,292		—
Digital currencies at end of period	$	613,949	$	641,999	$	613,949	$	641,999

(1) Additions of digital currencies were related to mining activities.

(2) See Note 1 – Basis of Presentation for more details regarding the Company's adoption of ASU 2023-08 as of January 1, 2024.

FAIR VALUE	9 Months Ended
FAIR VALUE	Sep. 30, 2024
Fair Value Disclosures [Abstract]
FAIR VALUE	NOTE 20 – FAIR VALUE In addition to assets and liabilities that are measured at fair value on a recurring basis, such as digital currencies pursuant to ASU 2023-08 as described above in Note 1 – Basis of Presentation and Note 2 – Digital Currencies, the Company also measures certain assets and liabilities at fair value on a nonrecurring basis. The Company's non-financial assets, including operating lease right-of-use assets and property, plant and equipment, are measured at fair value when there is an indication of impairment and the carrying amount exceeds the asset’s projected undiscounted cash flows. These assets are recorded at fair value only when an impairment charge is recognized. The fair values of cash and cash equivalents, accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued liabilities approximate their carrying values because of the short-term nature of these instruments. Adverse changes in business climate, including decreases in the price of Bitcoin and resulting decreases in the market price of miners, may indicate that an impairment triggering event has occurred. If the testing performed indicates the estimated fair value of the Company’s miners to be less than their net carrying value, an impairment charge will be recognized, decreasing the net carrying value of the Company’s miners to their estimated fair value.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

DIGITAL CURRENCIES

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

DIGITAL CURRENCIES

NOTE 2 – DIGITAL CURRENCIES


	Three Months Ended				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
Digital currencies at beginning of period	$	253,710	$	1,429,653	$	3,175,595	$	109,827
Additions of digital currencies (1)	9,535,291		15,069,008		51,963,137		43,778,958
Realized gain on sale of digital currencies	719,795		131,706		1,100,214		725,139
Unrealized (loss) gain on digital currencies	(33,783)		—		113,438		—
Impairment losses	—		(357,411)		—		(683,241)
Proceeds from sale of digital currencies	(9,861,064)		(15,630,957)		(55,837,727)		(43,288,684)
Impact of ASU 2023-08 as of January 1, 2024 (2)	—		—		99,292		—
Digital currencies at end of period	$	613,949	$	641,999	$	613,949	$	641,999

(1) Additions of digital currencies were related to mining activities.

(2) See Note 1 – Basis of Presentation for more details regarding the Company's adoption of ASU 2023-08 as of January 1, 2024.

As previously disclosed, the Company adopted ASU 2023-08 effective January 1, 2024, using a modified retrospective transition method, with a cumulative-effect adjustment of $99,292 recorded to the opening balance of retained earnings. Following the adoption of ASU 2023-08, realized gains (net of realized losses) on the sale of digital currencies were $719,795 and $1,100,214 and unrealized (losses)/gains (net of unrealized gains/losses) on digital currencies were $(33,783) and $113,438 for the three and nine months ended September 30, 2024.

Furthermore, with the adoption of ASU 2023-08, the Company no longer accounts for digital currencies as indefinite-live intangible assets, and therefore, no impairment losses have been recognized in the current year period. The Company used a first-in, first-out methodology to determine its cost basis for computing realized gains and losses on the sale of digital currencies. The Company’s Bitcoin mining activities are conducted in the ordinary course of business, and the digital currency assets awarded to the Company by mining pool operators are converted nearly immediately into cash. As such, the Company has classified such cash flows derived from its Bitcoin mining within operating activities in the condensed consolidated statements of cash flows.

As of September 30, 2024, the Company's crypto asset holdings consisted of approximately 9.7 Bitcoin with a fair value and carrying value of $613,949. None of these digital currency assets are subject to contractual sale restrictions as of September 30, 2024. The cumulative realized gains and losses from dispositions that occurred during the nine months ended September 30, 2024, totaled $1,637,590 and $537,376, respectively. As of December 31, 2023, the Company's

crypto asset holdings consisted of approximately 76.7 Bitcoin with a carrying value was $3,175,595 and fair value of $3,274,887.

BASIS OF PRESENTATION (Details)		1 Months Ended	3 Months Ended			9 Months Ended
BASIS OF PRESENTATION (Details)	May 15, 2023	Sep. 30, 2024 USD ($) contract $ / shares	Mar. 31, 2025	Sep. 30, 2024 USD ($) contract $ / shares	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) contract day $ / shares	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($) $ / shares	Dec. 21, 2023 $ / shares	Jun. 30, 2023 USD ($)	Apr. 20, 2023 $ / shares	Dec. 31, 2022 USD ($)	Sep. 19, 2022 $ / shares
Accounting Policies [Line Items]
Reverse stock split ratio	0.1
Common stock - Class A, par value (in USD per share) \| $ / shares		$ 0.0001		$ 0.0001		$ 0.0001			$ 0.0001	$ 0.0001		$ 0.0001		$ 0.0001
Common stock - Class V, par value (in USD per share) \| $ / shares		$ 0.0001		$ 0.0001		$ 0.0001			$ 0.0001
Number of hosting contracts \| contract		2		2		2
Net loss attributable to Stronghold Digital Mining, Inc.				$ (19,489,185)	$ (17,123,186)	$ (32,507,000)	$ (54,000,873)
Stockholders' equity		$ 19,530,449		19,530,449	68,381,568	19,530,449	68,381,568	$ 41,744,459	$ 43,397,504		$ 82,340,247		$ 83,025,144
Operating revenues				$ 11,168,073	17,726,957	$ 57,794,397	53,226,913
Forecast \| Bitfarms Ltd. \| Stronghold Digital Mining, Inc.
Accounting Policies [Line Items]
Merger, share exchange ratio			2.52
Cryptocurrency hosting
Accounting Policies [Line Items]
Number of hosting contracts \| contract		2		2		2
Hosting contract, term						24 months
Hosting contract, renewal term						1 year
Hosting contract, number of days notice prior to contract conclusion required for termination \| day						60
Hosting contract, accounting term						2 years
Cost-of-power fee, multiplier						50.00%
Cost-of-power fee, formulaically derived rate, multiplier						110.00%
Operating revenues				$ 1,911,610	3,789,375	$ 11,193,438	9,195,072
Contract liabilities		$ 500,000		500,000		500,000			200,000
Additional contract liability		8,000,000
Additional contract liability, customer deposit		7,800,000
Additional contract liability, advance payment		200,000
Revenue recognized				400,000		$ 200,000
Cryptocurrency hosting \| Bitcoin
Accounting Policies [Line Items]
Crypto asset retained, percentage						50.00%
Cryptocurrency hosting, cost-of-power component
Accounting Policies [Line Items]
Operating revenues				1,266,097		$ 4,399,662
Cryptocurrency hosting, Bitcoin mined on hosted machines
Accounting Policies [Line Items]
Operating revenues				645,513		6,793,776
Cumulative-effect adjustment
Accounting Policies [Line Items]
Stockholders' equity									99,292
Retained Earnings
Accounting Policies [Line Items]
Net loss attributable to Stronghold Digital Mining, Inc.				(19,489,185)	(17,123,186)	(32,507,000)	(54,000,873)
Stockholders' equity		$ (360,763,808)		(360,763,808)	$ (321,126,596)	(360,763,808)	$ (321,126,596)	$ (336,973,510)	(331,647,755)		$ (298,199,062)		$ (240,443,302)
Retained Earnings \| Cumulative-effect adjustment
Accounting Policies [Line Items]
Stockholders' equity									99,292
Adjustment
Accounting Policies [Line Items]
Net loss attributable to Stronghold Digital Mining, Inc.				$ 0		$ 0
Adjustment \| Retained Earnings
Accounting Policies [Line Items]
Stockholders' equity									$ 192,237

NONCONTROLLING INTERESTS - Redeemable Common Stock Adjustments (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Noncontrolling Interest [Line Items]
Common stock - Class V, outstanding (in shares)	2,405,760		2,405,760		2,405,760
Increase (Decrease) in Temporary Equity [Roll Forward]
Redeemable common stock, beginning balance			$ 20,416,116
Net loss attributable to noncontrolling interest	$ (3,181,407)	$ (5,188,727)	(5,588,300)	$ (26,663,731)
Redeemable common stock, ending balance	$ 11,536,161		$ 11,536,161
Common Stock - Class V
Noncontrolling Interest [Line Items]
Common stock - Class V, outstanding (in shares)	2,405,760		2,405,760		2,405,760
Fair valuation price (in USD per share)	$ 4.80		$ 4.80		$ 8.49
Increase (Decrease) in Temporary Equity [Roll Forward]
Redeemable common stock, beginning balance			$ 20,416,116
Net loss attributable to noncontrolling interest			(5,588,300)
Adjustment of temporary equity to redemption amount			(3,291,655)
Redeemable common stock, ending balance	$ 11,536,161		$ 11,536,161

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References

+ Details

- Definition

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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 944
-SubTopic 210
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
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+ Details

RELATED PARTY TRANSACTIONS (Tables)

9 Months Ended

Sep. 30, 2024

Schedule of Related Party Transactions

Amounts due to related parties as of September 30, 2024, and December 31, 2023, were as follows:


	September 30, 2024		December 31, 2023


Coal Valley Sales, LLC	$	1,265,862	$	433,195
Panther Creek Operating LLC	—		14,511


Northampton Generating Fuel Supply Company, Inc.	—		226,951
Olympus Power LLC and other subsidiaries	—		44,181


William Spence	183,333		—
Due to related parties	$	1,449,195	$	718,838

SUPPLEMENTAL CASH AND NON-CASH INFORMATION (Tables)

9 Months Ended

Sep. 30, 2024

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

Schedule of Cash Flow, Supplemental Disclosures

Supplemental disclosures of cash flow information for the nine months ended September 30, 2024, and 2023, were as follows:


	September 30, 2024		September 30, 2023
Income tax payments	$	—	$	—
Interest payments	$	5,981,021	$	7,054,387

Supplementary non-cash investing and financing activities consisted of the following for the nine months ended September 30, 2024, and 2023:


	September 30, 2024		September 30, 2023
Equipment financed with debt	$	—	$	1,184,935

Purchases of property, plant and equipment through finance leases	633,092		60,679
Purchases of property, plant and equipment included in accounts payable or accrued liabilities	134,811		145,093
Operating lease right-of-use assets exchanged for lease liabilities	—		291,291
Reclassifications from deposits to property, plant and equipment	8,000,643		4,658,970



Issued as part of financing:


Warrants – April 2023 Private Placement	—		8,882,914

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
Financed insurance premiums	2,100,249		1,887,824
Class A common stock issued to settle outstanding payables or accrued liabilities	134,984		1,014,780

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 21 – SUBSEQUENT EVENTS Matthew Smith Resignation On October 25, 2024, the Company announced that Matthew Smith, the Company’s Chief Financial Officer, will resign from such position effective November 15, 2024. Mr. Smith will also resign from the Company's Board at such time. Mr. Smith’s resignation was not because of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including accounting principles and practices. At this time, the Company does not intend to fill the vacancy on the Board that will be created following the effective date of Mr. Smith’s resignation. Simultaneous with his departure, the Company and Mr. Smith entered into a Consulting Agreement (the "Consulting Agreement") pursuant to which Mr. Smith will provide assistance with the Company’s finance function, and a transition from Mr. Smith's prior employment with the Company, as requested by the Company. Pursuant to the Consulting Agreement, Mr. Smith will be paid $400 per hour, and a minimum of $8,000 per month representative of twenty (20) hours per month. The Consulting Agreement has a three (3) month term and may be terminated at any time by either party upon five (5) days' notice. Second Bitfarms Hosting Agreement On October 29, 2024, Stronghold Digital Mining Hosting, LLC (“Stronghold Hosting”), a Delaware limited liability company and indirect subsidiary of the Company entered into a Hosting Agreement (the “Second Hosting Agreement”) with Backbone Mining Solutions LLC (“BMS”), a Delaware limited liability company and a subsidiary of Bitfarms Ltd., a corporation organized under the Business Corporations Act (Ontario) (“Bitfarms”), pursuant to which BMS will deliver approximately 10,000 Bitmain T21 or similar miners owned by BMS (the “BMS Miners”) to the Company’s mining facilities, and the Company will provide power to, maintain, host and operate the BMS Miners. The initial term of the Second Hosting Agreement will commence on November 1, 2024 and remain effective until December 31, 2025, after which it will automatically renew for additional one year periods unless either party provides written notice of non-renewal to the other party at least sixty days prior to the expiration of the then-current initial term or renewal term, as applicable. Upon the occurrence of an event of default that is not cured within fifteen days, the non-breaching party may terminate the Second Hosting Agreement. Pursuant to the Second Hosting Agreement, BMS will pay Stronghold Hosting a monthly fee equal to fifty percent (50%) of the profit generated by the BMS Miners, subject to certain monthly adjustments between the parties to account for the upfront monthly payment due from BMS to Stronghold Hosting in an amount of $600,000, and for taxes and the net cost of power associated with the operation of the BMS Miners. In connection with the execution of the Second Hosting Agreement, BMS deposited with Stronghold Hosting $7,800,000 (the “Second Deposit”), equal to the estimated cost of power for three months of operations of the BMS Miners, which will be refundable in full to BMS within one business day of the end of the initial term expiring on December 31, 2025. The Second Deposit will bear interest at a floating rate equal to the forward-looking term secured overnight financing rate as administered by CME Group Benchmark Administration Limited for the applicable interest period plus 1.0%, payable in kind on the last day of each calendar quarter by capitalizing and adding such interest to the then-outstanding amount of the Second Deposit. Upon the occurrence and during the continuance of an event of default under the Second Hosting Agreement, the principal of, and all accrued and unpaid interest on, the Second Deposit shall bear interest from the date of such event of default, until cured or waived, at a rate equal to 24.0%. Given the Company's efforts to high-grade its fleet, including through the First Hosting Agreement and Second Hosting Agreement with Bitfarms, we are exploring alternatives for a portion of our current fleet of Bitcoin miners. Fourth Amendment to the Cantaloupe Hosting Agreement On November 4, 2024, Stronghold Digital Mining Hashco, LLC and Cantaloupe Digital, LLC ("Cantaloupe") entered into a fourth amendment (the "Fourth Amendment") to the Hosting Agreement dated April 27, 2023. Pursuant to the Fourth Amendment, Cantaloupe is to deliver 4,000 Model A1446 Bitcoin miners, to replace the previously delivered 4,000 Model A1346 Bitcoin miners, to the Company's Panther Creek facility by December 31, 2024. Sunnyside Sale Agreement On November 13, 2024, as part of the Company’s efforts to high-grade its Bitcoin mining fleet following entry into the First Hosting Agreement and Second Hosting Agreement, Stronghold LLC entered into a Sale and Purchase Agreement (the “Sunnyside Purchase Agreement”) with Sunnyside Digital, Inc. (“Sunnyside”). Pursuant to the Sunnyside Purchase Agreement, Stronghold LLC sold 6,000 M50 Bitcoin miners to Sunnyside for $4.60 per terahash, for a total purchase price of $3,256,800. Pursuant to the Sunnyside Purchase Agreement, the Company shall make the M50 Bitcoin miners available to Sunnyside within ten (10) days of the transaction at the Company’s Panther Creek Plant. The Company expects the proceeds from the Sunnyside Purchase Agreement to be immediately applied towards indebtedness under the Company's Credit Agreement.

PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

NOTE 5 – PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following as of September 30, 2024, and December 31, 2023:


	Useful Lives (Years)	September 30, 2024		December 31, 2023
Electric plant	10 - 60	$	67,161,300	$	67,063,626
Strongboxes and power transformers	8 - 30	54,588,284		54,588,284
Karbolith	30	493,626		—
Machinery and equipment	5 - 20	17,175,420		16,222,214
Rolling stock	5 - 7	272,267		261,000
Cryptocurrency machines and powering supplies	2 - 3	89,538,064		88,445,931
Computer hardware and software	2 - 5	106,679		100,536
Vehicles and trailers	2 - 7	658,500		658,500
Leasehold improvements	2 - 3	2,992,845		2,992,845
Construction in progress	Not Depreciable	11,290,847		11,562,170
Asset retirement cost	10 - 30	580,452		580,452
		244,858,284		242,475,558
Accumulated depreciation and amortization		(119,886,518)		(97,832,787)
Property, plant and equipment, net		$	124,971,766	$	144,642,771

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 $11,290,847 as of September 30, 2024, represents amounts paid for ongoing or future projects.

Depreciation and amortization expense charged to operations was $8,623,646 and $9,667,213 for the three months ended September 30, 2024, and 2023, respectively, including depreciation of assets under finance leases of $118,727 and $122,762 for the same respective periods.

Depreciation and amortization expense charged to operations was $27,428,863 and $26,025,021 for the nine months ended September 30, 2024, and 2023, respectively, including depreciation of assets under finance leases of $338,650 and $368,285 for the same respective periods.

The gross value of assets under finance leases and the related accumulated amortization approximated $3,430,357 and $1,759,386 as of September 30, 2024, respectively, and $2,797,265 and $1,420,736 as of December 31, 2023, respectively.

INVENTORY (Tables)

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

Schedule of Inventory

Inventory consisted of the following components as of September 30, 2024, and December 31, 2023:


	September 30, 2024		December 31, 2023
Waste coal	$	2,658,462	$	4,066,201
Fuel oil	113,860		57,642
Limestone	42,856		72,969
Inventory	$	2,815,178	$	4,196,812

EQUIPMENT DEPOSITS (Details)	Sep. 30, 2024 USD ($)	Dec. 31, 2023 USD ($) miner
Property, Plant and Equipment [Line Items]
Equipment deposits \| $	$ 0	$ 8,000,643
Number of miners for deposit		5,000
Miner Equipment, MicroBT Whatsminer M50
Property, Plant and Equipment [Line Items]
Number of miners for deposit		1,100
Miner Equipment, Bitmain Antminer S19k Pro
Property, Plant and Equipment [Line Items]
Number of miners for deposit		2,800
Miner Equipment, Canaan Avalon A1346
Property, Plant and Equipment [Line Items]
Number of miners for deposit		1,100

REDEEMABLE COMMON STOCK - Schedule of Mezzanine Equity (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance (in shares)			2,405,760
NET LOSS attributable to noncontrolling interest	$ (3,181,407)	$ (5,188,727)	$ (5,588,300)	$ (26,663,731)
Ending balance (in shares)	2,405,760		2,405,760
Retained Earnings
Increase (Decrease) in Temporary Equity [Roll Forward]
NET LOSS attributable to noncontrolling interest	$ (3,181,407)	$ (5,188,727)	$ (5,588,300)	$ (26,663,731)
Common Stock - Class V
Increase (Decrease) in Temporary Equity [Roll Forward]
Beginning balance (in shares)			2,405,760
Beginning balance			$ 20,416,116
NET LOSS attributable to noncontrolling interest			(5,588,300)
Maximum redemption right valuation			$ (3,291,655)
Ending balance (in shares)	2,405,760		2,405,760
Ending balance	$ 11,536,161		$ 11,536,161

- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References

+ Details

- Definition

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

EQUITY ISSUANCES

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

EQUITY ISSUANCES

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, 2023	2,405,760	$	20,416,116
Net loss attributable to noncontrolling interest	—	(5,588,300)

Maximum redemption right valuation	—	(3,291,655)
Balance - September 30, 2024	2,405,760	$	11,536,161

NOTE 15 – EQUITY ISSUANCES

Series C Convertible Preferred Stock

Series D Exchange Agreement

September 2022 Private Placement


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	5.25
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	2,446,409

April 2023 Private Placement

equivalent. Further, the institutional investor and Mr. Beard received warrants exercisable for 900,000 shares and 100,000 shares, respectively, of Class A common stock.


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	5.25
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	4,395,995

December 2023 Private Placement

On December 21, 2023, the Company entered into a Securities Purchase Agreement with an institutional investor for the purchase and sale of shares of Class A common stock, par value $0.0001 per share at a purchase price of $6.71 per share, and warrants to purchase shares of Class A common stock, at an initial exercise price of $7.00 per share (the “December 2023 Private Placement”). Pursuant to the Securities Purchase Agreement, the institutional investor invested $15.4 million in exchange for an aggregate of 2,300,000 shares of Class A common stock and pre-funded warrants at a price of $6.71 per share equivalent. Further, the institutional investor received warrants exercisable for 2,300,000 shares of Class A common stock.


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	4.75
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	9,922,778

ATM Agreement

During the nine months ended September 30, 2024, the Company sold zero ATM Shares.

- Definition

The entire disclosure for equity.

+ References

+ Details

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Common stock - Class V, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock - Class V, authorized (in shares)	50,000,000	50,000,000
Common stock - Class V, issued (in shares)	2,405,760	2,405,760
Common stock - Class V, outstanding (in shares)	2,405,760	2,405,760
Common stock - Class A, par value (in USD per share)	$ 0.0001	$ 0.0001
Common stock - Class A, authorized (in shares)	238,000,000	238,000,000
Common stock - Class A, issued (in shares)	14,737,601	11,115,561
Common stock - Class A, outstanding (in shares)	14,737,601	11,115,561
Series C convertible preferred stock
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)	5,990	5,990
Preferred stock, outstanding (in shares)	5,990	5,990
Series D convertible preferred stock
Preferred stock, par value (in USD per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	15,582	15,582
Preferred stock, issued (in shares)	0	7,610
Preferred stock, outstanding (in shares)	0	7,610

ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Other Accrued Liabilities:
Accrued legal and professional fees	$ 823,960	$ 733,115
Accrued interest	21,485	22,101
Accrued sales and use tax	6,088,271	5,660,028
Accrued plant utilities and fuel	329,148	3,505,203
Accrued loss contingencies	3,238,295	0
Accrued transaction costs	2,568,831	0
Other	776,673	867,448
Accrued liabilities	$ 13,846,663	$ 10,787,895

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
OPERATING REVENUES:
Total operating revenues	$ 11,168,073	$ 17,726,957	$ 57,794,397	$ 53,226,913
OPERATING EXPENSES:
Fuel	6,500,292	8,556,626	19,709,424	22,262,141
Operations and maintenance	4,998,609	6,961,060	22,321,981	24,206,080
General and administrative	8,326,999	6,598,951	26,671,930	25,145,444
Depreciation and amortization	8,623,646	9,667,213	27,428,863	26,025,021
Loss on disposal of fixed assets	458,147	0	2,189,252	108,367
Realized gain on sale of digital currencies	(719,795)	(131,706)	(1,100,214)	(725,139)
Unrealized loss (gain) on digital currencies	33,783	0	(113,438)	0
Realized loss on sale of miner assets	530,099	0	494,087	0
Impairments on digital currencies	0	357,411	0	683,241
Impairments on equipment deposits	0	5,422,338	0	5,422,338
Total operating expenses	28,751,780	37,431,893	97,601,885	103,127,493
NET OPERATING LOSS	(17,583,707)	(19,704,936)	(39,807,488)	(49,900,580)
OTHER INCOME (EXPENSE):
Interest expense	(2,236,587)	(2,441,139)	(6,748,059)	(7,428,530)
Loss on debt extinguishment	0	0	0	(28,960,947)
Changes in fair value of warrant liabilities	(2,850,298)	(180,838)	8,445,247	5,580,453
Other	0	15,000	15,000	45,000
Total other (expense) income	(5,086,885)	(2,606,977)	1,712,188	(30,764,024)
NET LOSS	(22,670,592)	(22,311,913)	(38,095,300)	(80,664,604)
NET LOSS attributable to noncontrolling interest	(3,181,407)	(5,188,727)	(5,588,300)	(26,663,731)
NET LOSS attributable to Stronghold Digital Mining, Inc.	$ (19,489,185)	$ (17,123,186)	$ (32,507,000)	$ (54,000,873)
NET LOSS attributable to Class A common shareholders:
Basic (in USD per share)	$ (1.34)	$ (2.26)	$ (2.27)	$ (8.93)
Diluted (in USD per share)	$ (1.34)	$ (2.26)	$ (2.27)	$ (8.93)
Weighted average number of Class A common shares outstanding:
Basic (in shares)	14,594,955	7,569,511	14,319,202	6,047,891
Diluted (in shares)	14,594,955	7,569,511	14,319,202	6,047,891
Cryptocurrency mining
OPERATING REVENUES:
Total operating revenues	$ 8,709,777	$ 12,684,894	$ 44,989,361	$ 37,764,990
Cryptocurrency hosting
OPERATING REVENUES:
Total operating revenues	1,911,610	3,789,375	11,193,438	9,195,072
Energy
OPERATING REVENUES:
Total operating revenues	502,640	1,210,811	1,424,077	4,682,590
Capacity
OPERATING REVENUES:
Total operating revenues	0	0	0	1,442,067
Other
OPERATING REVENUES:
Total operating revenues	$ 44,046	$ 41,877	$ 187,521	$ 142,194

INVENTORY (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Waste coal	$ 2,658,462	$ 4,066,201
Fuel oil	113,860	57,642
Limestone	42,856	72,969
Inventory	$ 2,815,178	$ 4,196,812

PROPERTY, PLANT AND EQUIPMENT (Tables)

9 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

Schedule of Property, Plant and Equipment

Property, plant and equipment consisted of the following as of September 30, 2024, and December 31, 2023:


	Useful Lives (Years)	September 30, 2024		December 31, 2023
Electric plant	10 - 60	$	67,161,300	$	67,063,626
Strongboxes and power transformers	8 - 30	54,588,284		54,588,284
Karbolith	30	493,626		—
Machinery and equipment	5 - 20	17,175,420		16,222,214
Rolling stock	5 - 7	272,267		261,000
Cryptocurrency machines and powering supplies	2 - 3	89,538,064		88,445,931
Computer hardware and software	2 - 5	106,679		100,536
Vehicles and trailers	2 - 7	658,500		658,500
Leasehold improvements	2 - 3	2,992,845		2,992,845
Construction in progress	Not Depreciable	11,290,847		11,562,170
Asset retirement cost	10 - 30	580,452		580,452
		244,858,284		242,475,558
Accumulated depreciation and amortization		(119,886,518)		(97,832,787)
Property, plant and equipment, net		$	124,971,766	$	144,642,771

WARRANTS - Schedule of Outstanding Warrants (Details)	9 Months Ended
WARRANTS - Schedule of Outstanding Warrants (Details)	Sep. 30, 2024 shares
Class Of Warrant Or Right, Outstanding [Roll Forward]
Outstanding as of beginning of period (in shares)	5,277,985
Issued (in shares)	0
Exercised (in shares)	(1,300,000)
Outstanding as of end of period (in shares)	3,977,985

NONCONTROLLING INTERESTS (Tables)

9 Months Ended

Sep. 30, 2024

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 nine months ended September 30, 2024:


	Class V Common Stock Outstanding	Fair Value Price		Redeemable Common Stock Adjustments
Balance - December 31, 2023	2,405,760	$	8.49	$	20,416,116
Net loss attributable to noncontrolling interest	—			(5,588,300)

Adjustment of redeemable common stock to redemption amount (1)	—			(3,291,655)
Balance - September 30, 2024	2,405,760	$	4.80	$	11,536,161

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

EARNINGS (LOSS) PER SHARE - Narrative (Details) - $ / shares	9 Months Ended
	Sep. 30, 2024	Dec. 21, 2023
December 2023 Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Exercise price of warrants (in USD per share)	$ 0.01	$ 7.00
Series C Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,497,500
Class V shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,405,760
Warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,865,910

PROPERTY, PLANT AND EQUIPMENT - Narrative (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Depreciation and amortization	$ 8,623,646	$ 9,667,213	$ 27,428,863	$ 26,025,021
Depreciation of assets under finance leases	118,727	$ 122,762	338,650	$ 368,285
Gross value of assets under finance leases	3,430,357		3,430,357		$ 2,797,265
Assets under finance leases, accumulated amortization	1,759,386		1,759,386		1,420,736
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,290,847		$ 11,290,847		$ 11,562,170

COVER - shares	9 Months Ended
COVER - shares	Sep. 30, 2024	Nov. 08, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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	2024
Document Fiscal Period Focus	Q3
Amendment Flag	false
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		14,837,229
Common Class V
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,405,760

STOCK-BASED COMPENSATION	9 Months Ended
STOCK-BASED COMPENSATION	Sep. 30, 2024
Share-Based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 13 – STOCK-BASED COMPENSATION Stock-based compensation expense was $1,486,286 and $787,811 for the three months ended September 30, 2024, and 2023, respectively, and $5,093,193 and $7,603,859 for the nine months ended September 30, 2024, and 2023, respectively, and is included in general and administrative expense in the condensed consolidated statements of operations. 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 January 22, 2024, the Company entered into award agreements with certain executive officers in which the executive officers were granted 135,000 restricted stock units. Similarly, on March 15, 2023, the Company entered into award agreements with certain executive officers in which the executive officers were granted 272,500 restricted stock units in exchange for the cancellation of 98,669 stock options and 25,000 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. Additionally, in April 2023, as part of the compensation pursuant to the Spence Consulting Agreement described in Note 8 – Related Party Transactions, Mr. Spence received a one-time grant of 250,000 fully vested shares of the Company's Class A common stock, which was recorded as stock-based compensation in the second quarter of 2023.

INCOME TAXES (Details) - USD ($)		3 Months Ended		9 Months Ended
INCOME TAXES (Details) - USD ($)	Apr. 01, 2021	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Tax receivable agreement, percentage	85.00%
Income tax expense (benefit)		$ 0	$ 0	$ 0	$ 0
Effective income tax rate		0.00%	0.00%	0.00%	0.00%

- Definition

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

+ References

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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/exampleRef
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

CONCENTRATIONS	9 Months Ended
CONCENTRATIONS	Sep. 30, 2024
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 cash equivalents and accounts receivable. Cash and cash equivalents customarily exceed federally insured limits. For accounts receivable, the Company’s significant credit risk is primarily concentrated with CES. CES accounted for approximately 92% and 100% of the Company's Energy Operations segment revenues for the three months ended September 30, 2024, and 2023, respectively, and approximately 88% and 100% of the Company's Energy Operations segment revenues for the nine months ended September 30, 2024, and 2023, respectively. Additionally, approximately 17% and 21% of the Company's total revenues for the three months ended September 30, 2024, and 2023, respectively, and approximately 19% and 19% of the Company's total revenues for the nine months ended September 30, 2024, and 2023, respectively, were derived from services provided to two customers. For the three months ended September 30, 2024, and 2023, the Company purchased approximately 0% and 41% of waste coal, respectively, from two suppliers. For the nine months ended September 30, 2024, and 2023, the Company purchased approximately 40% and 49% of waste coal, respectively, from the same related parties. See Note 8 – Related Party Transactions for further information.

SEGMENT REPORTING

9 Months Ended

Sep. 30, 2024

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				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
OPERATING REVENUES:
Energy Operations	$	546,686	$	1,252,688	$	1,611,598	$	6,266,851
Cryptocurrency Operations	10,621,387		16,474,269		56,182,799		46,960,062
Total operating revenues	$	11,168,073	$	17,726,957	$	57,794,397	$	53,226,913
NET OPERATING LOSS:
Energy Operations	$	(5,926,117)	$	(9,685,721)	$	(23,002,472)	$	(29,864,794)
Cryptocurrency Operations	(11,657,590)		(10,019,215)		(16,805,016)		(20,035,786)
Total net operating loss	$	(17,583,707)	$	(19,704,936)	$	(39,807,488)	$	(49,900,580)
OTHER (EXPENSE) INCOME (1)	(5,086,885)		(2,606,977)		1,712,188		(30,764,024)
NET LOSS	$	(22,670,592)	$	(22,311,913)	$	(38,095,300)	$	(80,664,604)

DEPRECIATION AND AMORTIZATION:
Energy Operations	$	(1,359,278)	$	(1,341,076)	$	(4,031,499)	$	(4,004,596)
Cryptocurrency Operations	(7,264,368)		(8,326,137)		(23,397,364)		(22,020,425)
Total depreciation and amortization	$	(8,623,646)	$	(9,667,213)	$	(27,428,863)	$	(26,025,021)
INTEREST EXPENSE:
Energy Operations	$	(22,056)	$	(39,007)	$	(70,721)	$	(450,472)
Cryptocurrency Operations	(2,214,531)		(2,402,132)		(6,677,338)		(6,978,058)
Total interest expense	$	(2,236,587)	$	(2,441,139)	$	(6,748,059)	$	(7,428,530)

(1) 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.

For the three and nine months ended September 30, 2024, and 2023, the loss on disposal of fixed assets, realized loss (gain) on sale of digital currencies, unrealized loss (gain) on digital currencies, realized loss on sale of miner assets, and impairments on digital currencies recorded in the condensed consolidated statements of operations were entirely attributable to the Cryptocurrency Operations segment.

- Definition

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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+ Details

CONCENTRATIONS (Details)	3 Months Ended		9 Months Ended
CONCENTRATIONS (Details)	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Purchased coal \| Supplier concentration risk \| Two suppliers
Concentration Risk [Line Items]
Concentration risk, percentage	0.00%	41.00%	40.00%	49.00%
Two customers \| Revenue \| Customer concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	17.00%	21.00%	19.00%	19.00%
Energy Operations \| Customized Energy Solutions, Ltd \| Revenue \| Customer concentration risk
Concentration Risk [Line Items]
Concentration risk, percentage	92.00%	100.00%	88.00%	100.00%

EQUITY ISSUANCES - Black Scholes Input Assumptions (Details)	Sep. 30, 2024 USD ($)
September 2022 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value	$ 2,446,409
April 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value	4,395,995
December 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Fair value	$ 9,922,778
Expected volatility \| September 2022 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	1.372
Expected volatility \| April 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	1.372
Expected volatility \| December 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	1.372
Expected life (in years) \| September 2022 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	5.25
Expected life (in years) \| April 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	5.25
Expected life (in years) \| December 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	4.75
Risk-free interest rate \| September 2022 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.036
Risk-free interest rate \| April 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.036
Risk-free interest rate \| December 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.036
Expected dividend yield \| September 2022 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0000
Expected dividend yield \| April 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0000
Expected dividend yield \| December 2023 Warrants
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Warrants, measurement input	0.0000

NATURE OF OPERATIONS	9 Months Ended
NATURE OF OPERATIONS	Sep. 30, 2024
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 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 the 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 two qualifying small power production facilities 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 Bitcoin mining business. The Company buys and maintains a fleet of Bitcoin miners, as well as the required infrastructure, and provides power to third-party Bitcoin miners under hosting agreements. The Bitcoin mining operations are in their early stages, and Bitcoin 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 Bitcoin mining and power generation sectors, including fluctuating Bitcoin-to-U.S.-Dollar prices, the costs and availability of Bitcoin miners, the number of market participants mining Bitcoin, the availability of other power generation facilities to expand operations, and regulatory changes.

PROPERTY, PLANT AND EQUIPMENT - Schedule of Property, Plant and Equipment (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Property, Plant And Equipment, Excluding Land
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 244,858,284	$ 242,475,558
Accumulated depreciation and amortization	(119,886,518)	(97,832,787)
Property, plant and equipment, net	124,971,766	144,642,771
Electric plant
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 67,161,300	67,063,626
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	54,588,284
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
Karbolith
Property, Plant and Equipment [Line Items]
Useful life	30 years
Property, plant and equipment, gross	$ 493,626	0
Machinery and equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 17,175,420	16,222,214
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	$ 272,267	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	$ 89,538,064	88,445,931
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	$ 106,679	100,536
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	$ 658,500	658,500
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
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 2,992,845	2,992,845
Leasehold improvements \| Minimum
Property, Plant and Equipment [Line Items]
Useful life	2 years
Leasehold improvements \| Maximum
Property, Plant and Equipment [Line Items]
Useful life	3 years
Construction in progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment, gross	$ 11,290,847	11,562,170
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

COMMITMENTS AND CONTINGENCIES (Details) terahash in Millions										1 Months Ended	3 Months Ended
	Nov. 08, 2024 USD ($) bitcoin	Jan. 19, 2024 plaintiff	Sep. 15, 2023 claim	Oct. 26, 2022 USD ($)	May 09, 2022 USD ($)	Jun. 02, 2021 USD ($)	Apr. 02, 2021 USD ($) miner terahash	Mar. 31, 2020 USD ($)	Jan. 31, 2020 USD ($)	Nov. 30, 2019 USD ($)	Feb. 04, 2024 claim	Dec. 31, 2022 USD ($)	Mar. 31, 2022 USD ($) miner	Sep. 30, 2024 USD ($) miner
McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P. \| Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages awarded					$ 5,000,000
Litigation settlement interest					$ 800,000
McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P. \| Pending Litigation \| McClymonds Supply and Transit Company, Inc.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought									$ 5,042,350
McClymonds Supply & Transit Company, Inc. and DTA, L.P. vs. Scrubgrass Generating Company, L.P. \| Pending Litigation \| Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought								$ 6,747,328
Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039 \| Pending Litigation \| Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought										$ 1,300,000
Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039 \| Pending Litigation \| Allegheny Mineral Corporation
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages sought										$ 1,200,000
Allegheny Mineral Corporation v. Scrubgrass Generating Company, L.P., Butler County Court of Common Pleas, No. AD 19-11039 \| Settled Litigation \| Scrubgrass Generating Company, L.P.
Unrecorded Unconditional Purchase Obligation [Line Items]
Damages awarded				$ 300,000
Winter v. Stronghold Digital Mining
Unrecorded Unconditional Purchase Obligation [Line Items]
Number of plaintiffs \| plaintiff		1
Wilson v. Beard and Navarro v. Beard
Unrecorded Unconditional Purchase Obligation [Line Items]
Claims filed \| claim			2
Parker v. Beard and Bruno v. Beard
Unrecorded Unconditional Purchase Obligation [Line Items]
Claims filed \| claim											2
Derivative Class Action \| Settled Litigation \| Subsequent Event
Unrecorded Unconditional Purchase Obligation [Line Items]
Settlement amount	$ 4,750,000
Settlement, preliminary approval, expected within, period	90 days
Amount of settlement expected to be covered by insurance	$ 2,500,000
Settlement, cash value of bitcoin, number of bitcoin \| bitcoin	25
Settlement, cash value of bitcoin, number of bitcoin to be paid monthly \| bitcoin	1
Settlement, cash value of bitcoin, bitcoin to be paid monthly, period	2 years
Settlement, cash value of bitcoin, number of bitcoin to be in final month \| bitcoin	2
Settlement, final hearing, period after preliminary order entered	120 days
MinerVa, MinerVA
Unrecorded Unconditional Purchase Obligation [Line Items]
Count (in miners) \| miner							15,000						15,000	15,000
Total terahash delivered by miner (in terahash) \| terahash							1.5
Price per miner (in USD per miner)							$ 4,892.5
Remaining commitment balance							$ 73,387,500
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												$ 5,120,000	$ 12,228,742
Equivalent value of collateral exchanged \| miner														12,700

DIGITAL CURRENCIES - Schedule of Changes in Digital Currencies (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Crypto Asset [Roll Forward]
Realized gain on sale of digital currencies	$ 719,795	$ 131,706	$ 1,100,214	$ 725,139
Unrealized (loss) gain on digital currencies	33,783	0	(113,438)	0
Impairment losses			0	(683,241)
Bitcoin
Crypto Asset [Roll Forward]
Digital currencies at beginning of period	253,710	1,429,653	3,175,595	109,827
Additions of digital currencies	9,535,291	15,069,008	51,963,137	43,778,958
Realized gain on sale of digital currencies	719,795	131,706	1,100,214	725,139
Unrealized (loss) gain on digital currencies	33,783	0	113,438	0
Impairment losses	0	(357,411)	0	(683,241)
Proceeds from sale of digital currencies	(9,861,064)	(15,630,957)	(55,837,727)	(43,288,684)
Digital currencies at end of period	$ 613,949	$ 641,999	613,949	$ 641,999
Cumulative-effect adjustment \| Bitcoin
Crypto Asset [Roll Forward]
Digital currencies at beginning of period			$ 99,292

REDEEMABLE COMMON STOCK (Tables)

9 Months Ended

Sep. 30, 2024

Temporary Equity Disclosure [Abstract]

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, 2023	2,405,760	$	20,416,116
Net loss attributable to noncontrolling interest	—	(5,588,300)

Maximum redemption right valuation	—	(3,291,655)
Balance - September 30, 2024	2,405,760	$	11,536,161

ACCRUED LIABILITIES (Tables)

9 Months Ended

Sep. 30, 2024

Payables and Accruals [Abstract]

Schedule of Accrued Liabilities

Accrued liabilities consisted of the following as of September 30, 2024, and December 31, 2023:


	September 30, 2024		December 31, 2023
Accrued legal and professional fees	$	823,960	$	733,115
Accrued interest	21,485		22,101
Accrued sales and use tax	6,088,271		5,660,028
Accrued plant utilities and fuel	329,148		3,505,203

Accrued loss contingencies	3,238,295		—
Accrued transaction costs	2,568,831		—
Other	776,673		867,448
Accrued liabilities	$	13,846,663	$	10,787,895

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2024	Dec. 31, 2023
ASSETS:
Cash and cash equivalents	$ 4,491,447	$ 4,214,613
Digital currencies	613,949	3,175,595
Accounts receivable	1,240,900	507,029
Inventory	2,815,178	4,196,812
Prepaid insurance	1,668,837	3,787,048
Due from related parties	90,538	97,288
Other current assets	1,898,404	1,675,084
Total current assets	12,819,253	17,653,469
Equipment deposits	0	8,000,643
Property, plant and equipment, net	124,971,766	144,642,771
Operating lease right-of-use assets	904,988	1,472,747
Land	1,748,440	1,748,440
Road bond	299,738	299,738
Security deposits	348,888	348,888
Other noncurrent assets	271,960	170,488
TOTAL ASSETS	141,365,033	174,337,184
LIABILITIES:
Accounts payable	11,259,291	11,857,052
Accrued liabilities	13,846,663	10,787,895
Financed insurance premiums	952,369	2,927,508
Current portion of long-term debt, net of discounts and issuance fees	19,566,519	7,936,147
Current portion of operating lease liabilities	605,324	788,706
Due to related parties	1,449,195	718,838
Total current liabilities	47,679,361	35,016,146
Asset retirement obligation	1,116,958	1,075,728
Warrant liabilities	16,765,182	25,210,429
Long-term debt, net of discounts and issuance fees	33,879,516	48,203,762
Long-term operating lease liabilities	356,542	776,079
Other noncurrent liabilities	10,500,864	241,420
Total liabilities	110,298,423	110,523,564
COMMITMENTS AND CONTINGENCIES (NOTE 10)
REDEEMABLE COMMON STOCK:
Redeemable common stock	11,536,161	20,416,116
STOCKHOLDERS’ EQUITY:
Common Stock – Class A; $0.0001 par value; 238,000,000 shares authorized; 14,737,601 and 11,115,561 shares issued and outstanding as of September 30, 2024, and December 31, 2023, respectively.	1,474	1,112
Accumulated deficits	(360,763,808)	(331,647,755)
Additional paid-in capital	380,292,782	375,044,145
Total stockholders' equity	19,530,449	43,397,504
Total redeemable common stock and stockholders' equity	31,066,610	63,813,620
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND STOCKHOLDERS' EQUITY	141,365,033	174,337,184
Series C convertible preferred stock
STOCKHOLDERS’ EQUITY:
Preferred stock, value, issued	1	1
Series D convertible preferred stock
STOCKHOLDERS’ EQUITY:
Preferred stock, value, issued	$ 0	$ 1

NATURE OF OPERATIONS (Details)		9 Months Ended
NATURE OF OPERATIONS (Details)	Jul. 27, 2022	Sep. 30, 2024 a power_generation_facility segment power_production_facility MW
Disaggregation of Revenue [Line Items]
Number of coal refuse power generation facilities owned and operating \| power_generation_facility		2
Number of operating segments \| segment		2
Number of qualifying small power production facilities \| power_production_facility		2
Customized Energy Solutions, Ltd
Disaggregation of Revenue [Line Items]
Contract with supplier, term	2 years
Contract with supplier, termination notice before automatic renewal, period	60 days
Reclamation Facility, Venango County, Pennsylvania
Disaggregation of Revenue [Line Items]
Area of land (in acres) \| a		650
Scrubgrass Plant
Disaggregation of Revenue [Line Items]
Generation capacity, electricity (in megawatts)		83.5
Panther Creek Plant
Disaggregation of Revenue [Line Items]
Generation capacity, electricity (in megawatts)		80

WARRANTS (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Outstanding Warrants

The following table summarizes outstanding warrants as of September 30, 2024.


			Number of Warrants
Outstanding as of December 31, 2023			5,277,985
Issued			—
Exercised			(1,300,000)
Outstanding as of September 30, 2024			3,977,985

SEGMENT REPORTING - Narrative (Details)	9 Months Ended
SEGMENT REPORTING - Narrative (Details)	Sep. 30, 2024 segment
Segment Reporting [Abstract]
Number of operating segments	2

DIGITAL CURRENCIES - Narrative (Details)	3 Months Ended		9 Months Ended
DIGITAL CURRENCIES - Narrative (Details)	Sep. 30, 2024 USD ($) bitcoin	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) bitcoin	Sep. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($) bitcoin	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Indefinite-lived Intangible Assets [Line Items]
Stockholders' equity	$ 19,530,449	$ 68,381,568	$ 19,530,449	$ 68,381,568	$ 41,744,459	$ 43,397,504	$ 82,340,247	$ 83,025,144
Realized gains (net of realized losses)	719,795	131,706	1,100,214	725,139
Unrealized gains (net of unrealized losses)	$ (33,783)	0	$ 113,438	0
Crypto-asset, number of units \| bitcoin	4		4			77
Bitcoin
Indefinite-lived Intangible Assets [Line Items]
Realized gains (net of realized losses)	$ 719,795	131,706	$ 1,100,214	725,139
Unrealized gains (net of unrealized losses)	(33,783)	0	(113,438)	0
Digital currencies	613,949	641,999	613,949	641,999	253,710	$ 3,175,595	1,429,653	109,827
Cumulative realized gains from dispositions			1,637,590
Cumulative realized losses from dispositions			537,376
Bitcoin \| Carrying value
Indefinite-lived Intangible Assets [Line Items]
Digital currencies	613,949		613,949			3,175,595
Bitcoin \| Fair value
Indefinite-lived Intangible Assets [Line Items]
Digital currencies	613,949		613,949			3,274,887
Retained Earnings
Indefinite-lived Intangible Assets [Line Items]
Stockholders' equity	$ (360,763,808)	$ (321,126,596)	$ (360,763,808)	$ (321,126,596)	$ (336,973,510)	(331,647,755)	$ (298,199,062)	$ (240,443,302)
Cumulative-effect adjustment
Indefinite-lived Intangible Assets [Line Items]
Stockholders' equity						99,292
Cumulative-effect adjustment \| Bitcoin
Indefinite-lived Intangible Assets [Line Items]
Digital currencies						99,292
Cumulative-effect adjustment \| Retained Earnings
Indefinite-lived Intangible Assets [Line Items]
Stockholders' equity						$ 99,292

ACCRUED LIABILITIES

9 Months Ended

Sep. 30, 2024

Payables and Accruals [Abstract]

ACCRUED LIABILITIES

NOTE 6 – ACCRUED LIABILITIES

Accrued liabilities consisted of the following as of September 30, 2024, and December 31, 2023:


	September 30, 2024		December 31, 2023
Accrued legal and professional fees	$	823,960	$	733,115
Accrued interest	21,485		22,101
Accrued sales and use tax	6,088,271		5,660,028
Accrued plant utilities and fuel	329,148		3,505,203

Accrued loss contingencies	3,238,295		—
Accrued transaction costs	2,568,831		—
Other	776,673		867,448
Accrued liabilities	$	13,846,663	$	10,787,895

DEBT - Schedule of Debt (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023	Mar. 28, 2023
Debt Instrument [Line Items]
Long-term debt, gross	$ 53,446,035	$ 56,139,909
Current portion of long-term debt, net of discounts and issuance fees	19,566,519	7,936,147
Long-term debt, net of discounts and issuance fees	33,879,516	48,203,762
Loans payable \| $499,520 loan, with interest at 2.74%, due February 2024.
Debt Instrument [Line Items]
Debt face amount	$ 499,520
Interest rate	2.74%
Long-term debt, gross	$ 0	26,522
Loans payable \| $517,465 loan, with interest at 4.79%, due November 2024.
Debt Instrument [Line Items]
Debt face amount	$ 517,465
Interest rate	4.79%
Long-term debt, gross	$ 30,766	158,027
Loans payable \| $119,000 loan, with interest at 7.40%, due December 2026.
Debt Instrument [Line Items]
Debt face amount	$ 119,000
Interest rate	7.40%
Long-term debt, gross	$ 95,942	119,000
Loans payable \| $384,055 loan, with interest at 5.25%, due June 2029.
Debt Instrument [Line Items]
Debt face amount	$ 384,055
Interest rate	5.25%
Long-term debt, gross	$ 367,147	0
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	$ 214,320	345,665
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	0	$ 31,525
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	$ 49,341,042	51,060,896
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	$ 39,162	56,470
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	$ 0	13,795
Loans payable \| $196,909 loan, with interest at 6.49%, due October 2025.
Debt Instrument [Line Items]
Debt face amount	$ 196,909
Interest rate	6.49%
Long-term debt, gross	$ 95,124	134,845
Loans payable \| $249,037 loan, with interest at 4.49%, due April 2029
Debt Instrument [Line Items]
Debt face amount	$ 249,037
Interest rate	4.49%
Long-term debt, gross	$ 226,569	0
Loans payable \| $60,679 loan, with interest at 7.60%, due March 2025.
Debt Instrument [Line Items]
Debt face amount	$ 60,679
Interest rate	7.60%
Long-term debt, gross	$ 35,963	48,672
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	$ 3,000,000	3,000,000
Loans payable \| $1,184,935 Promissory Note, due June 2024.
Debt Instrument [Line Items]
Debt face amount	1,184,935
Long-term debt, gross	0	592,468
Loans payable \| $552,024 Promissory Note, due July 2024.
Debt Instrument [Line Items]
Debt face amount	552,024
Long-term debt, gross	$ 0	$ 552,024

REDEEMABLE COMMON STOCK - Narrative (Details) - Stronghold LLC - vote	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Temporary Equity [Line Items]
Number of votes	1
Q Power LLC
Temporary Equity [Line Items]
Ownership interest	14.00%	17.80%

SUPPLEMENTAL CASH AND NON-CASH INFORMATION

9 Months Ended

Sep. 30, 2024

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 nine months ended September 30, 2024, and 2023, were as follows:


	September 30, 2024		September 30, 2023
Income tax payments	$	—	$	—
Interest payments	$	5,981,021	$	7,054,387

Supplementary non-cash investing and financing activities consisted of the following for the nine months ended September 30, 2024, and 2023:


	September 30, 2024		September 30, 2023
Equipment financed with debt	$	—	$	1,184,935

Purchases of property, plant and equipment through finance leases	633,092		60,679
Purchases of property, plant and equipment included in accounts payable or accrued liabilities	134,811		145,093
Operating lease right-of-use assets exchanged for lease liabilities	—		291,291
Reclassifications from deposits to property, plant and equipment	8,000,643		4,658,970



Issued as part of financing:


Warrants – April 2023 Private Placement	—		8,882,914

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
Financed insurance premiums	2,100,249		1,887,824
Class A common stock issued to settle outstanding payables or accrued liabilities	134,984		1,014,780

EQUITY ISSUANCES (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Black Scholes Input Assumptions

The fair value of the warrant liabilities was estimated as of September 30, 2024, using a Black-Scholes model with significant inputs as follows:


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	5.25
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	2,446,409

The fair value of the warrant liabilities was estimated as of September 30, 2024, using a Black-Scholes model with significant inputs as follows:


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	5.25
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	4,395,995

The fair value of the warrant liabilities was estimated as of September 30, 2024, using a Black-Scholes model with significant inputs as follows:


	September 30, 2024
Expected volatility	137.2		%
Expected life (in years)	4.75
Risk-free interest rate	3.6		%
Expected dividend yield	0.00		%
Fair value	$	9,922,778

SEGMENT REPORTING (Tables)

9 Months Ended

Sep. 30, 2024

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The Company functions in two operating segments, Energy Operations and Cryptocurrency Operations, about which separate financial information is presented below.


	Three Months Ended				Nine Months Ended
	September 30, 2024		September 30, 2023		September 30, 2024		September 30, 2023
OPERATING REVENUES:
Energy Operations	$	546,686	$	1,252,688	$	1,611,598	$	6,266,851
Cryptocurrency Operations	10,621,387		16,474,269		56,182,799		46,960,062
Total operating revenues	$	11,168,073	$	17,726,957	$	57,794,397	$	53,226,913
NET OPERATING LOSS:
Energy Operations	$	(5,926,117)	$	(9,685,721)	$	(23,002,472)	$	(29,864,794)
Cryptocurrency Operations	(11,657,590)		(10,019,215)		(16,805,016)		(20,035,786)
Total net operating loss	$	(17,583,707)	$	(19,704,936)	$	(39,807,488)	$	(49,900,580)
OTHER (EXPENSE) INCOME (1)	(5,086,885)		(2,606,977)		1,712,188		(30,764,024)
NET LOSS	$	(22,670,592)	$	(22,311,913)	$	(38,095,300)	$	(80,664,604)

DEPRECIATION AND AMORTIZATION:
Energy Operations	$	(1,359,278)	$	(1,341,076)	$	(4,031,499)	$	(4,004,596)
Cryptocurrency Operations	(7,264,368)		(8,326,137)		(23,397,364)		(22,020,425)
Total depreciation and amortization	$	(8,623,646)	$	(9,667,213)	$	(27,428,863)	$	(26,025,021)
INTEREST EXPENSE:
Energy Operations	$	(22,056)	$	(39,007)	$	(70,721)	$	(450,472)
Cryptocurrency Operations	(2,214,531)		(2,402,132)		(6,677,338)		(6,978,058)
Total interest expense	$	(2,236,587)	$	(2,441,139)	$	(6,748,059)	$	(7,428,530)

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	NOTE 1 – BASIS OF PRESENTATION The unaudited condensed consolidated balance sheet as of September 30, 2024, the unaudited condensed consolidated statements of operations and stockholders' equity for the three and nine months ended September 30, 2024, and 2023, and the unaudited condensed consolidated statements of cash flows for the nine months ended September 30, 2024, and 2023, 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 and nine months ended September 30, 2024, 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, 2023. 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. On May 15, 2023, following approval by the Board of Directors and stockholders of the Company, the Company effected a 1-for-10 reverse stock split ("Reverse Stock Split") of its Class A common stock, par value $0.0001 per share, and Class V common stock, par value $0.0001 per share. The par values of the Company's Class A and Class V common stock were not adjusted as a result of the Reverse Stock Split. All share and per share amounts and related stockholders' equity balances presented herein have been retroactively adjusted to reflect the Reverse Stock Split. Bitfarms Merger Agreement On August 21, 2024, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Bitfarms Ltd., a corporation incorporated under the Canada Business Corporations Act and continued under the Business Corporations Act (Ontario) (the “OBCA”) (“Bitfarms” or “Parent”), Backbone Mining Solutions LLC, a Delaware limited liability company and a wholly-owned, indirect subsidiary of Parent (“BMS”), and HPC & AI Megacorp, Inc., a Delaware corporation and a wholly-owned, direct subsidiary of BMS (“Merger Sub”), pursuant to which Merger Sub will be merged with and into the Company (the “merger”), with the Company surviving the merger as an indirect, wholly-owned subsidiary of Bitfarms. The Merger Agreement has been unanimously approved by the Boards of Directors of the Company and Bitfarms and is expected to close in the first quarter of 2025, subject to the receipt of Stronghold stockholder approval, applicable regulatory approvals, certain third-party consents and other customary closing conditions. Under the terms of the Merger Agreement, upon the closing of the merger, holders of Class A common stock (including holders of Series C Preferred Stock and holders of Class V common stock whose shares will convert into or be exchanged for shares of Class A common stock immediately prior to the closing of the merger) will receive 2.52 Bitfarms common shares for each share of Class A common stock they own. Refer to Item 1A. Risk Factors in this Quarterly Report on Form 10-Q for risks associated with the Company's proposed merger with Bitfarms. Correction of Immaterial Error During the third quarter of 2024, the Company corrected an error in its revenue recognition policy to be consistent with GAAP, which requires an entity to measure noncash consideration using the estimated fair value of the consideration at contract inception. Instead of measuring the noncash (Bitcoin) consideration at the time of each hosting contract’s inception, the Company has measured the noncash (Bitcoin) consideration in prior periods on a daily basis, as each Bitcoin was awarded. The Company has two hosting contracts with customers that are currently in operation, for which the quoted price of Bitcoin in the Company’s principal market at the time of each contract’s inception was approximately $23,000 and $30,000. The resulting impact of correcting the error in the Company’s revenue recognition policy to be consistent with GAAP is reflected in the Company’s consolidated statement of operations for the third quarter of 2024. In accordance with Accounting Standards Codification (“ASC”) Topic 250, Accounting Changes and Error Corrections, the Company evaluated the materiality of this error on the consolidated financial statements as of and for the year ended December 31, 2023, and the unaudited consolidated financial statements as of and for the quarters and year-to-date periods ended March 31, 2023, June 30, 2023, September 30, 2023, March 31, 2024, and June 30, 2024. The Company determined that this error did not result in a material misstatement (quantitatively or qualitatively) to the Company’s financial condition, results of operations or liquidity for any of the current year or prior year periods. The cumulative impact of correcting this error in the current year for the three and nine months ended September 30, 2024, using the approaches described in Staff Accounting Bulletin No. 108, results in a $0 adjustment to net loss for those periods. There is also no impact to the consolidated balance sheet as of September 30, 2024, and no change to net cash flows provided by operating activities for the nine months ended September 30, 2024. The Company notes that, had it corrected this error in the prior year as of December 31, 2023, its adoption of the Financial Accounting Standards Board ("FASB") ASU 2023-08, Intangibles – Goodwill and Other – Crypto Assets (Subtopic 350-60), which requires crypto assets to be recorded at fair value, would have been different. The Company adopted ASU 2023-08 in the current year as of January 1, 2024, and recorded a cumulative-effect adjustment to increase the opening balance of retained earnings by $99,292; but including the impact of correcting this error, the cumulative-effect adjustment to retained earnings would have increased by $192,237. The Company’s adoption of ASU 2023-08 in the current year, however, corrected the cumulative balance sheet impact of this error. For this reason, there is no adjustment to correct the prior periods during the third quarter of 2024. Additionally, given the immaterial nature of this error (quantitatively and qualitatively) for all current year and prior year periods, the Company has not corrected this immaterial prior-period error in the current year presentation of comparative financial statements. Further information regarding the Company’s corrected revenue recognition policy is described below. Revenue Recognition Accounting Policy The following disclosure represents the Company’s corrected revenue recognition policy specific to its cryptocurrency hosting revenues. Except for the updates noted below, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, for a detailed discussion of the Company’s significant accounting policies. Cryptocurrency Hosting Revenue The Company has entered into customer hosting contracts whereby the Company promises to unload, install, provision, maintain, and operate the hosted Bitcoin mining machines located at the Company’s premises, which includes hosting services comprised of electrical power, internet access, racking infrastructure, general maintenance and operations as instructed in writing by the customer, ambient cooling, and miner reboots. Each of these promises is not separately identifiable from the other promises in the Company’s hosting contracts and, therefore, represents a single performance obligation to provide an integrated hosting service. The Company has two customer hosting contracts that are currently in operation for initial terms of 24 months ending December 31, 2024, and April 30, 2025, that automatically renew for additional one-year periods unless one party notifies the other in writing at least 60 days prior to the conclusion of the then-current term. Neither the Company nor the customers can cancel or terminate the hosting agreements without penalty before the initial terms of 24 months elapse. Therefore, the accounting duration of the hosting contracts is two years. The Company has determined the renewal options do not provide a material right to the hosting customers because the price charged for the Company’s integrated hosting service approximates the standalone selling price in total. Because each contract’s renewal option does not provide a material right to the hosting customers, the Company has concluded that the renewal option is not a performance obligation that requires an allocation of the transaction price. Therefore, the Company will recognize revenue for the integrated hosting service to be provided during the additional one-year renewal periods only if and when the Company provides those services. The consideration of the Company’s hosting contracts is comprised of (i) the variable cost-of-power fee, denominated in cash, and (ii) a portion of the Bitcoin mined by the customers’ Bitcoin mining machines that the Company hosts, denominated in Bitcoin. The promised amount of consideration does not include a significant financing component and, therefore, is not adjusted for the effects of the time value of money in determining the transaction price. i.The variable cost-of-power fee is directly tied to the energy used by the hosted Bitcoin mining machines and calculated as 50% of the energy used by the Bitcoin mining machines multiplied by a formulaically derived rate. This rate is calculated by dividing (1) all fuel costs, operations and maintenance expenses, general and administrative expenses, and financing charges incurred (subject to certain adjustments), multiplied by 110%, by (2) the total number of megawatt hours generated and purchased from the grid to supply the data center. All estimates associated with the variable cost-of-power consideration are fully constrained. The Company only includes the variable cost-of-power consideration in the transaction price to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Therefore, each quarterly reporting period when the uncertainty is resolved, the Company includes in the transaction price the actual amount of the variable cost-of-power-fee and, at that point, reassesses the estimated transaction price to determine whether an estimate of the variable consideration over the remaining two-year contract term is fully constrained. ii.The Company’s portion of the Bitcoin mined by the customers’ Bitcoin mining machines that the Company hosts, or 50%, is also variable but in the form of noncash (Bitcoin) consideration. All estimates associated with the Company’s portion of the variable Bitcoin mined by the customers’ hosted Bitcoin mining machines are fully constrained. ASC 606 requires an entity to measure noncash consideration using the estimated fair value of the consideration at contract inception. The Company has two hosting contracts with customers that are currently in operation, for which the quoted price of Bitcoin in the Company’s principal market at the time of each contract’s inception was approximately $23,000 and $30,000. The Company only includes the variable noncash (Bitcoin) consideration in the transaction price to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Therefore, each quarterly reporting period when the uncertainty is resolved, the Company includes in the transaction price the noncash (Bitcoin) consideration equal to the product of (1) the Company’s portion of the Bitcoin mined by the customers’ hosted Bitcoin mining machines during the reporting period, and (2) the quoted price of Bitcoin in the Company’s principal market at the time of each contract’s inception. At the end of each quarterly reporting period, the Company also reassesses the estimated transaction price to determine whether an estimate of the variable consideration over the remaining two-year contract term is fully constrained. Subsequent changes in the fair value of such noncash consideration that are due to the form of the consideration (i.e., fluctuations in the value of Bitcoin) are excluded from the transaction price. Because there is only one performance obligation – to provide an integrated hosting service to the Company’s hosting customers – all of the transaction price described above is allocated to the single performance obligation for revenue recognition purposes. The Company recognizes revenue for the transaction price over time as the Company satisfies its performance obligation to provide an integrated hosting service. Throughout the two-year term of the hosting contracts, the hosting customers simultaneously receive and consume the benefits provided by the Company’s performance of its integrated hosting service. The Company has a right to consideration from its hosting customers in amounts that correspond directly with the value to the customer of the Company’s performance completed to date. Therefore, the Company has adopted the practical expedient under ASC 606-10-55-18, which permits an entity to recognize revenue in the amount to which the entity has a right to invoice. The amount to which the Company has a right to invoice, and therefore recognize revenue, includes the actual cost-of-power and Bitcoin mining components of the transaction price that are updated each quarterly reporting period. For the three and nine months ended September 30, 2024, the Company recognized cryptocurrency hosting revenues of $1,266,097 and $4,399,662, respectively, for the cost-of-power component of the transaction price, and $645,513 and $6,793,776, respectively, for the Company’s portion of Bitcoin mined by the customer’s hosted Bitcoin mining machines. Advance payments and customer deposits are recorded as contract liabilities, within other noncurrent liabilities or accrued liabilities as applicable, in the consolidated balance sheet. As of September 30, 2024, and December 31, 2023, the Company had contract liability balances of approximately $0.5 million and $0.2 million, respectively, associated with its two customer hosting contracts that are currently in operation. In September 2024, the Company entered into a third hosting contract that resulted in an additional contract liability balance of approximately $8.0 million as of September 30, 2024, comprised of a customer deposit of $7.8 million and an advance payment of approximately $0.2 million. This third hosting contract is not currently in operation but will become operational during the fourth quarter of 2024. Additionally, refer to Note 21 – Subsequent Events for information about a fourth hosting contract the Company entered into after quarter end on October 29, 2024. For the three and nine months ended September 30, 2024, the Company recognized cryptocurrency hosting revenues of approximately $0.4 million and $0.2 million, respectively, that were included in contract liabilities at the beginning of each respective period. The Company had no accounts receivable balances as of September 30, 2024, and December 31, 2023, associated with its two customer hosting contracts that are currently in operation. Recently Implemented Accounting Pronouncements In September 2016, the FASB 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. In December 2023, the FASB issued ASU 2023-08, Intangibles – Goodwill and Other - Crypto Assets (Subtopic 350-60), which requires all entities holding crypto assets that meet certain requirements to subsequently measure those in-scope crypto assets at fair value, with the remeasurement recorded in net income. Among other things, the new guidance also requires separate presentation of (i) the gain or loss associated with remeasurement of crypto assets on the income statement and (ii) crypto assets from other intangible assets on the balance sheet. Before this new guidance, crypto assets were generally accounted for as indefinite-lived intangible assets, which follow a cost-less-impairment accounting model that only reflects decreases, but not increases, in the fair value of crypto assets holdings until sold. Although early adoption is permitted, the new guidance becomes effective on January 1, 2025, and should be applied using a modified retrospective transition method with a cumulative-effect adjustment recorded to the opening balance of retained earnings as of the beginning of the year of adoption. The Company adopted ASU 2023-08 as of January 1, 2024, and the cumulative adjustment increased the opening balance of retained earnings by $99,292. See Note 2 – Digital Currencies for more information. Recently Issued Accounting Pronouncements During the first nine months of 2024, there have been no recently issued accounting pronouncements applicable to the Company. However, the Company continues to evaluate the impact of the following accounting pronouncements issued during the prior year. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure, which requires public entities to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, public entities with a single reportable segment will be required to provide the new disclosures and all the disclosures required under ASC 280, Segment Reporting. Although early adoption is permitted, this new guidance becomes effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. The Company is currently evaluating the impact of adopting this new guidance on its interim and annual consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision-usefulness of income tax disclosures, particularly in the rate reconciliation table and disclosures about income taxes paid. Although early adoption is permitted, this new guidance becomes effective for annual periods beginning after December 15, 2024, on a prospective basis. The Company is currently evaluating the impact of adopting this new guidance on its interim and annual consolidated financial statements and related disclosures.

SUPPLEMENTAL CASH AND NON-CASH INFORMATION (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Class of Warrant or Right [Line Items]
Income tax payments	$ 0	$ 0
Interest payments	5,981,021	7,054,387
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Equipment financed with debt	0	1,184,935
Purchases of property, plant and equipment through finance leases	633,092	60,679
Purchases of property, plant and equipment included in accounts payable or accrued liabilities	134,811	145,093
Operating lease right-of-use assets exchanged for lease liabilities	0	291,291
Reclassifications from deposits to property, plant and equipment	8,000,643	4,658,970
Extinguishment of convertible note	0	16,812,500
Extinguishment of accrued interest	0	655,500
Issuance of Series C convertible preferred stock, net of issuance costs	0	45,386,944
Warrants – B&M	0	1,739,882
Return of transformers to settle outstanding payable	0	6,007,500
Issuance of B&M Note	0	3,500,000
Elimination of accounts payable	0	11,426,720
Financed insurance premiums	2,100,249	1,887,824
Class A common stock issued to settle outstanding payables or accrued liabilities	134,984	1,014,780
Warrants – April 2023 Private Placement
Cash Flow, Noncash Investing and Financing Activities Disclosure [Abstract]
Warrants – April 2023 Private Placement	$ 0	$ 8,882,914

STOCK-BASED COMPENSATION (Details) - USD ($)			1 Months Ended	3 Months Ended		9 Months Ended
STOCK-BASED COMPENSATION (Details) - USD ($)	Jan. 22, 2024	Mar. 15, 2023	Apr. 30, 2023	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock compensation expense				$ 1,486,286	$ 787,811	$ 5,093,193	$ 7,603,859
Stock compensation expense, tax benefit				$ 0	$ 0	$ 0	$ 0
Options cancelled (in shares)		98,669
Independent Consulting Agreement \| Related Party
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Options granted (in shares)			250,000
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted (in shares)	135,000	272,500
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards cancelled (in shares)		25,000

EARNINGS (LOSS) PER SHARE - Schedule of Earnings Income (Loss) per Share (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Numerator:
Net loss	$ (22,670,592)	$ (22,311,913)	$ (38,095,300)	$ (80,664,604)
Less: net loss attributable to noncontrolling interest	(3,181,407)	(5,188,727)	(5,588,300)	(26,663,731)
NET LOSS attributable to Stronghold Digital Mining, Inc.	$ (19,489,185)	$ (17,123,186)	$ (32,507,000)	$ (54,000,873)
Denominator:
Weighted average number of Class A common shares outstanding (in shares)	14,594,955	7,569,511	14,319,202	6,047,891
Earnings per share:
Basic net loss per share (in USD per share)	$ (1.34)	$ (2.26)	$ (2.27)	$ (8.93)
Diluted net loss per share (in USD per share)	$ (1.34)	$ (2.26)	$ (2.27)	$ (8.93)

- Definition

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

+ References

+ Details

- Definition

The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.

+ References

+ Details

- Definition

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

+ References

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- Definition

Amount of Net Income (Loss) attributable to noncontrolling interest.

+ References

+ Details

- Definition

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

+ References

+ Details

INCOME TAXES	9 Months Ended
INCOME TAXES	Sep. 30, 2024
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 and 2023, taxable exchanges 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. TRA Waiver and Termination Agreement On August 21, 2024, concurrently with the execution and delivery of the Merger Agreement, the Company, Parent and each of the TRA Holders entered into a TRA Waiver and Termination Agreement (the “TRA Waiver”), pursuant to which the parties agreed, among other things, subject to and effective upon the consummation of the transactions contemplated by the Merger Agreement, to (i) terminate the TRA, dated April 1, 2021, as amended November 9, 2022, by and among the Company and the TRA Holders and (ii) waive the Early Termination Payment (as defined in the TRA) pursuant to the TRA, which would have otherwise become payable to the TRA Holders in connection with the consummation of the merger, and any other amounts to which the TRA Holders would have otherwise been entitled under the TRA. The TRA continues to be in effect prior to the completion of the Merger Agreement, but due to the TRA Waiver discussed above, the TRA is not recorded and is not currently expected to have an impact on the Company's consolidated financial statements. Provision for Income Taxes The provision for income taxes for the three and nine months ended September 30, 2024, and 2023, 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 and nine months ended September 30, 2024, and 2023, 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 September 30, 2024, and December 31, 2023.

- Definition

The entire disclosure for income tax.

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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

SUBSEQUENT EVENTS (Details)				9 Months Ended
SUBSEQUENT EVENTS (Details)	Nov. 13, 2024 USD ($) miner_equipment $ / terahash	Oct. 29, 2024 USD ($) day miner_equipment	Oct. 25, 2024 USD ($) hour	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Nov. 04, 2024 miner_equipment	Nov. 03, 2024 miner_equipment
Subsequent Event [Line Items]
Proceeds from sale of equipment				$ 221,212	$ 0
Subsequent Event
Subsequent Event [Line Items]
Consulting agreement, rate per hour			$ 400
Consulting agreement, minimum rate per month			$ 8,000
Consulting agreement, hours per month \| hour			20
Consulting agreement, term			3 months
Consulting agreement, termination notice period			5 days
Subsequent Event \| Bitcoin miners
Subsequent Event [Line Items]
Number of units of equipment sold \| miner_equipment	6,000
Sale of equipment, price (in usd per terahash) \| $ / terahash	4.60
Proceeds from sale of equipment	$ 3,256,800
Sale of equipment, availability, period from transaction date	10 days
Subsequent Event \| Bitfarms Ltd.
Subsequent Event [Line Items]
Hosting contract, renewal term		1 year
Hosting contract, number of days notice prior to contract conclusion required for termination \| day		60
Hosting contract, event of default cure period		15 days
Hosting contract, monthly fee percentage		50.00%
Hosting contract, upfront monthly payment		$ 600,000
Amount deposited		$ 7,800,000
Period for estimated cost of power for deposit		3 months
Deposit, refundable, number of days within the end of the initial term \| day		1
Deposit, basis spread on variable rate, payable in kind		1.00%
Deposit, event of default, interest rate		24.00%
Subsequent Event \| Bitcoin \| Bitfarms Ltd.
Subsequent Event [Line Items]
Hosting contract, number of crypto asset miners \| miner_equipment		10,000
Subsequent Event \| Bitcoin \| Cantaloupe Digital, LLC
Subsequent Event [Line Items]
Hosting contract, number of crypto asset miners \| miner_equipment						4,000	4,000

NONCONTROLLING INTERESTS

9 Months Ended

Sep. 30, 2024

Noncontrolling Interest [Abstract]

NONCONTROLLING INTERESTS

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.

Class V common stock represented 14.0% and 17.8% ownership of Stronghold LLC as of September 30, 2024, and December 31, 2023, 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 shares of Class A common stock.

The following summarizes the redeemable common stock adjustments pertaining to the noncontrolling interest as of and for the nine months ended September 30, 2024:


	Class V Common Stock Outstanding	Fair Value Price		Redeemable Common Stock Adjustments
Balance - December 31, 2023	2,405,760	$	8.49	$	20,416,116
Net loss attributable to noncontrolling interest	—			(5,588,300)

Adjustment of redeemable common stock to redemption amount (1)	—			(3,291,655)
Balance - September 30, 2024	2,405,760	$	4.80	$	11,536,161

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

BASIS OF PRESENTATION (Policies)	9 Months Ended
BASIS OF PRESENTATION (Policies)	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	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, 2023. 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.
Revenue Recognition Accounting Policy	Revenue Recognition Accounting Policy The following disclosure represents the Company’s corrected revenue recognition policy specific to its cryptocurrency hosting revenues. Except for the updates noted below, refer to the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, for a detailed discussion of the Company’s significant accounting policies. Cryptocurrency Hosting Revenue The Company has entered into customer hosting contracts whereby the Company promises to unload, install, provision, maintain, and operate the hosted Bitcoin mining machines located at the Company’s premises, which includes hosting services comprised of electrical power, internet access, racking infrastructure, general maintenance and operations as instructed in writing by the customer, ambient cooling, and miner reboots. Each of these promises is not separately identifiable from the other promises in the Company’s hosting contracts and, therefore, represents a single performance obligation to provide an integrated hosting service. The Company has two customer hosting contracts that are currently in operation for initial terms of 24 months ending December 31, 2024, and April 30, 2025, that automatically renew for additional one-year periods unless one party notifies the other in writing at least 60 days prior to the conclusion of the then-current term. Neither the Company nor the customers can cancel or terminate the hosting agreements without penalty before the initial terms of 24 months elapse. Therefore, the accounting duration of the hosting contracts is two years. The Company has determined the renewal options do not provide a material right to the hosting customers because the price charged for the Company’s integrated hosting service approximates the standalone selling price in total. Because each contract’s renewal option does not provide a material right to the hosting customers, the Company has concluded that the renewal option is not a performance obligation that requires an allocation of the transaction price. Therefore, the Company will recognize revenue for the integrated hosting service to be provided during the additional one-year renewal periods only if and when the Company provides those services. The consideration of the Company’s hosting contracts is comprised of (i) the variable cost-of-power fee, denominated in cash, and (ii) a portion of the Bitcoin mined by the customers’ Bitcoin mining machines that the Company hosts, denominated in Bitcoin. The promised amount of consideration does not include a significant financing component and, therefore, is not adjusted for the effects of the time value of money in determining the transaction price. i.The variable cost-of-power fee is directly tied to the energy used by the hosted Bitcoin mining machines and calculated as 50% of the energy used by the Bitcoin mining machines multiplied by a formulaically derived rate. This rate is calculated by dividing (1) all fuel costs, operations and maintenance expenses, general and administrative expenses, and financing charges incurred (subject to certain adjustments), multiplied by 110%, by (2) the total number of megawatt hours generated and purchased from the grid to supply the data center. All estimates associated with the variable cost-of-power consideration are fully constrained. The Company only includes the variable cost-of-power consideration in the transaction price to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Therefore, each quarterly reporting period when the uncertainty is resolved, the Company includes in the transaction price the actual amount of the variable cost-of-power-fee and, at that point, reassesses the estimated transaction price to determine whether an estimate of the variable consideration over the remaining two-year contract term is fully constrained. ii.The Company’s portion of the Bitcoin mined by the customers’ Bitcoin mining machines that the Company hosts, or 50%, is also variable but in the form of noncash (Bitcoin) consideration. All estimates associated with the Company’s portion of the variable Bitcoin mined by the customers’ hosted Bitcoin mining machines are fully constrained. ASC 606 requires an entity to measure noncash consideration using the estimated fair value of the consideration at contract inception. The Company has two hosting contracts with customers that are currently in operation, for which the quoted price of Bitcoin in the Company’s principal market at the time of each contract’s inception was approximately $23,000 and $30,000. The Company only includes the variable noncash (Bitcoin) consideration in the transaction price to the extent it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with the variable consideration is subsequently resolved. Therefore, each quarterly reporting period when the uncertainty is resolved, the Company includes in the transaction price the noncash (Bitcoin) consideration equal to the product of (1) the Company’s portion of the Bitcoin mined by the customers’ hosted Bitcoin mining machines during the reporting period, and (2) the quoted price of Bitcoin in the Company’s principal market at the time of each contract’s inception. At the end of each quarterly reporting period, the Company also reassesses the estimated transaction price to determine whether an estimate of the variable consideration over the remaining two-year contract term is fully constrained. Subsequent changes in the fair value of such noncash consideration that are due to the form of the consideration (i.e., fluctuations in the value of Bitcoin) are excluded from the transaction price. Because there is only one performance obligation – to provide an integrated hosting service to the Company’s hosting customers – all of the transaction price described above is allocated to the single performance obligation for revenue recognition purposes. The Company recognizes revenue for the transaction price over time as the Company satisfies its performance obligation to provide an integrated hosting service. Throughout the two-year term of the hosting contracts, the hosting customers simultaneously receive and consume the benefits provided by the Company’s performance of its integrated hosting service. The Company has a right to consideration from its hosting customers in amounts that correspond directly with the value to the customer of the Company’s performance completed to date. Therefore, the Company has adopted the practical expedient under ASC 606-10-55-18, which permits an entity to recognize revenue in the amount to which the entity has a right to invoice. The amount to which the Company has a right to invoice, and therefore recognize revenue, includes the actual cost-of-power and Bitcoin mining components of the transaction price that are updated each quarterly reporting period. For the three and nine months ended September 30, 2024, the Company recognized cryptocurrency hosting revenues of $1,266,097 and $4,399,662, respectively, for the cost-of-power component of the transaction price, and $645,513 and $6,793,776, respectively, for the Company’s portion of Bitcoin mined by the customer’s hosted Bitcoin mining machines. Advance payments and customer deposits are recorded as contract liabilities, within other noncurrent liabilities or accrued liabilities as applicable, in the consolidated balance sheet. As of September 30, 2024, and December 31, 2023, the Company had contract liability balances of approximately $0.5 million and $0.2 million, respectively, associated with its two customer hosting contracts that are currently in operation. In September 2024, the Company entered into a third hosting contract that resulted in an additional contract liability balance of approximately $8.0 million as of September 30, 2024, comprised of a customer deposit of $7.8 million and an advance payment of approximately $0.2 million. This third hosting contract is not currently in operation but will become operational during the fourth quarter of 2024. Additionally, refer to Note 21 – Subsequent Events for information about a fourth hosting contract the Company entered into after quarter end on October 29, 2024. For the three and nine months ended September 30, 2024, the Company recognized cryptocurrency hosting revenues of approximately $0.4 million and $0.2 million, respectively, that were included in contract liabilities at the beginning of each respective period. The Company had no accounts receivable balances as of September 30, 2024, and December 31, 2023, associated with its two customer hosting contracts that are currently in operation.
Recently Implemented Accounting Pronouncements/Recently Issued Accounting Pronouncements	Recently Implemented Accounting Pronouncements In September 2016, the FASB 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. In December 2023, the FASB issued ASU 2023-08, Intangibles – Goodwill and Other - Crypto Assets (Subtopic 350-60), which requires all entities holding crypto assets that meet certain requirements to subsequently measure those in-scope crypto assets at fair value, with the remeasurement recorded in net income. Among other things, the new guidance also requires separate presentation of (i) the gain or loss associated with remeasurement of crypto assets on the income statement and (ii) crypto assets from other intangible assets on the balance sheet. Before this new guidance, crypto assets were generally accounted for as indefinite-lived intangible assets, which follow a cost-less-impairment accounting model that only reflects decreases, but not increases, in the fair value of crypto assets holdings until sold. Although early adoption is permitted, the new guidance becomes effective on January 1, 2025, and should be applied using a modified retrospective transition method with a cumulative-effect adjustment recorded to the opening balance of retained earnings as of the beginning of the year of adoption. The Company adopted ASU 2023-08 as of January 1, 2024, and the cumulative adjustment increased the opening balance of retained earnings by $99,292. See Note 2 – Digital Currencies for more information. Recently Issued Accounting Pronouncements During the first nine months of 2024, there have been no recently issued accounting pronouncements applicable to the Company. However, the Company continues to evaluate the impact of the following accounting pronouncements issued during the prior year. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosure, which requires public entities to disclose significant segment expenses and other segment items on an annual and interim basis and to provide in interim periods all disclosures about a reportable segment’s profit or loss and assets that are currently required annually. Additionally, public entities with a single reportable segment will be required to provide the new disclosures and all the disclosures required under ASC 280, Segment Reporting. Although early adoption is permitted, this new guidance becomes effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis. The Company is currently evaluating the impact of adopting this new guidance on its interim and annual consolidated financial statements and related disclosures. In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, to enhance the transparency and decision-usefulness of income tax disclosures, particularly in the rate reconciliation table and disclosures about income taxes paid. Although early adoption is permitted, this new guidance becomes effective for annual periods beginning after December 15, 2024, on a prospective basis. The Company is currently evaluating the impact of adopting this new guidance on its interim and annual consolidated financial statements and related disclosures.

- Definition

Disclosure of accounting policy for revenue from contract with customer.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 17
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-17

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 19
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-19

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 18
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-18

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 20
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-20

Reference 9: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Subparagraph (e)
-SubTopic 10
-Topic 235
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483426/235-10-50-4

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Name Accounting Standards Codification
-Topic 606
-Publisher FASB
-URI https://asc.fasb.org/606/tableOfContent

+ Details

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($)	Total	Private Placement	ATM Agreement	Cumulative-effect adjustment	Series C convertible preferred stock	Series D convertible preferred stock	Preferred Stock Series C convertible preferred stock	Preferred Stock Series D convertible preferred stock	Common A	Common A Private Placement	Common A ATM Agreement	Common A Series C convertible preferred stock	Common A Series D convertible preferred stock	Accumulated Deficit	Accumulated Deficit Cumulative-effect adjustment	Additional Paid-in Capital	Additional Paid-in Capital Private Placement	Additional Paid-in Capital ATM Agreement	Additional Paid-in Capital Series C convertible preferred stock	Additional Paid-in Capital Series D convertible preferred stock
Beginning balance (in shares) at Dec. 31, 2022							0	0	3,171,022
Beginning balance at Dec. 31, 2022	$ 83,025,144						$ 0	$ 0	$ 317					$ (240,443,302)		$ 323,468,129
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Stronghold Digital Mining, Inc.	(54,000,873)													(54,000,873)
Net loss attributable to noncontrolling interest	(26,663,731)													(26,663,731)
Maximum redemption right valuation [Common V Units]	(18,690)													(18,690)
Stock-based compensation (in shares)									250,000
Stock-based compensation	7,603,859								$ 25							7,603,834
Vesting of restricted stock units (in shares)									337,515
Vesting of restricted stock units	0								$ 34							(34)
Warrants issued and outstanding	1,739,882															1,739,882
Exercised warrants (in shares)									1,608,195
Exercised warrants	316								$ 161							155
Issuance of stock (in shares)							23,102		200,000	566,661	1,250,506
Issuance of stock	1,210,000	$ 941,652	$ 8,123,874		$ 45,386,946		$ 2		$ 20	$ 57	$ 125					1,209,980	$ 941,595	$ 8,123,749	$ 45,386,944
Issuance of common stock to settle payables (in shares)									110,289
Issuance of common stock to settle payables	1,033,189								$ 11							1,033,178
Conversion of stock (in shares)							(1,530)					382,500
Conversion of stock					$ 0							$ 38							$ (38)
Ending balance (in shares) at Sep. 30, 2023							21,572	0	7,876,688
Ending balance at Sep. 30, 2023	68,381,568						$ 2	$ 0	$ 788					(321,126,596)		389,507,374
Beginning balance (in shares) at Jun. 30, 2023							21,572		6,055,618
Beginning balance at Jun. 30, 2023	82,340,247						$ 2		$ 606					(298,199,062)		380,538,701
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Stronghold Digital Mining, Inc.	(17,123,186)													(17,123,186)
Net loss attributable to noncontrolling interest	(5,188,727)													(5,188,727)
Maximum redemption right valuation [Common V Units]	(615,621)													(615,621)
Stock-based compensation	787,811															787,811
Vesting of restricted stock units (in shares)									83,753
Vesting of restricted stock units	0								$ 8							(8)
Exercised warrants (in shares)									474,612
Exercised warrants	0								$ 48							(48)
Issuance of stock (in shares)											1,249,746
Issuance of stock			$ 8,121,049								$ 125							$ 8,120,924
Issuance of common stock to settle payables (in shares)									12,959
Issuance of common stock to settle payables	59,995								$ 1							59,994
Ending balance (in shares) at Sep. 30, 2023							21,572	0	7,876,688
Ending balance at Sep. 30, 2023	68,381,568						$ 2	$ 0	$ 788					(321,126,596)		389,507,374
Beginning balance (in shares) at Dec. 31, 2023							5,990	7,610	11,115,561
Beginning balance at Dec. 31, 2023	43,397,504			$ 99,292			$ 1	$ 1	$ 1,112					(331,647,755)	$ 99,292	375,044,145
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Stronghold Digital Mining, Inc.	(32,507,000)													(32,507,000)
Net loss attributable to noncontrolling interest	(5,588,300)													(5,588,300)
Maximum redemption right valuation [Common V Units]	8,879,955													8,879,955
Stock-based compensation	5,093,193															5,093,193
Vesting of restricted stock units (in shares)									882,410
Vesting of restricted stock units	0								$ 88							(88)
Exercised warrants (in shares)									1,299,969
Exercised warrants	0								$ 130							(130)
Issuance of common stock to settle payables (in shares)									25,544
Issuance of common stock to settle payables	175,302								$ 3							175,299
Conversion of stock (in shares)								(7,610)					1,414,117
Conversion of stock						$ (19,497)		$ (1)					$ 141							$ (19,637)
Ending balance (in shares) at Sep. 30, 2024							5,990	0	14,737,601
Ending balance at Sep. 30, 2024	19,530,449						$ 1	$ 0	$ 1,474					(360,763,808)		380,292,782
Beginning balance (in shares) at Jun. 30, 2024							5,990		12,980,864
Beginning balance at Jun. 30, 2024	41,744,459						$ 1		$ 1,298					(336,973,510)		378,716,670
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss attributable to Stronghold Digital Mining, Inc.	(19,489,185)													(19,489,185)
Net loss attributable to noncontrolling interest	(3,181,407)													(3,181,407)
Maximum redemption right valuation [Common V Units]	(1,119,706)													(1,119,706)
Stock-based compensation	1,486,286															1,486,286
Vesting of restricted stock units (in shares)									450,776
Vesting of restricted stock units	0								$ 45							(45)
Exercised warrants (in shares)									1,299,969
Exercised warrants	0								$ 130							(130)
Issuance of common stock to settle payables (in shares)									5,992
Issuance of common stock to settle payables	90,002								$ 1							90,001
Ending balance (in shares) at Sep. 30, 2024							5,990	0	14,737,601
Ending balance at Sep. 30, 2024	$ 19,530,449						$ 1	$ 0	$ 1,474					$ (360,763,808)		$ 380,292,782

INVENTORY

9 Months Ended

Sep. 30, 2024

Inventory Disclosure [Abstract]

INVENTORY

NOTE 3 – INVENTORY

Inventory consisted of the following components as of September 30, 2024, and December 31, 2023:


	September 30, 2024		December 31, 2023
Waste coal	$	2,658,462	$	4,066,201
Fuel oil	113,860		57,642
Limestone	42,856		72,969
Inventory	$	2,815,178	$	4,196,812

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2024
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 on June 2, 2021. As of September 30, 2024, 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 recorded 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 September 30, 2024, 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. As disclosed below, the Company is pursuing legal action through the dispute resolution process, and as a result, the Company no longer expects equipment deliveries. Contingencies: Legal Proceedings The Company experiences litigation in the normal course of business. Certain of these matters are discussed below. The Company accrues for estimated costs related to existing lawsuits, claims and legal proceedings when it is probable that it will incur these costs in the future and the costs are reasonably estimable. 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 continued 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. PJM’s investigation and discussions with the Company regarding the notice of breach at the Scrubgrass Plant and the Panther Creek Plant are ongoing, including with respect to interim procedures, until the Company receives revised Interconnect Service Agreements for the Scrubgrass Plant and the Panther Creek Plant. Stronghold does not expect to make any material payments related to any resettlements of prior billing statements. The Company continues to expect to source electricity for its computational load banks from the Scrubgrass and Panther Creek Plants; however, Stronghold expects that, until the revised Interconnect Service Agreements are finalized and potentially thereafter, the Company will pay retail rates for electricity that is imported from the grid should it be unable to fully supply power to the computational load banks. On May 11, 2022, the Division of Investigations of the FERC Office of Enforcement (“OE”) informed the Company that the OE was 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 that the PJM notice of breach, the Panther Creek necessary study agreement, discussions regarding other potential issues related to the computational load bank, including power consumption and potential resettlements of billing statements for certain prior months, 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. Shareholder Securities and Derivative Lawsuits 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 (Winter v. Stronghold Digital Mining, Case No. 1:22-cv-3088). On August 4, 2022, co-lead plaintiffs were appointed. On October 18, 2022, the plaintiffs filed an amended complaint, alleging 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 of 1933, as amended (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. The amended complaint also alleged violations of Section 12 of the Securities Act based on alleged false or misleading statements in the Company’s prospectus related to its initial public offering. On December 19, 2022, the Company filed a motion to dismiss, which the court largely denied on August 10, 2023. On September 8, 2023, the Court entered a Case Management Order, which set a number of case deadlines, including the completion of all discovery by April 21, 2025. On January 19, 2024, the Court granted the motion of one co-lead plaintiff to withdraw from the case, leaving one plaintiff remaining. Plaintiff filed a motion for class certification on February 19, 2024, and defendants’ response to that motion is due on June 10, 2024. The defendants continue to believe the allegations in the complaint are without merit and intend to defend these suits vigorously. On September 5, 2023, and September 15, 2023, respectively, purported shareholders of the Company filed two derivative actions in the United States District Court for the Southern District of New York (Wilson v. Beard, Case No. 1:23-cv-7840, and Navarro v. Beard, Case No. 1:23-cv-08714) against certain of our current and former directors and officers, and the Company as a nominal defendant. The shareholders generally allege that the individual defendants breached their fiduciary duties by making or failing to prevent the misrepresentations alleged in the putative Winter securities class action, and assert claims for breach of fiduciary duty, unjust enrichment, abuse of control, gross mismanagement, corporate waste, and for contribution under Section 11 of the Securities Act and Section 21D of the Securities Exchange Act of 1934. The two cases were consolidated on October 24, 2023, under the case name In Re Stronghold Digital Mining, Inc., Stockholder Derivative Litigation (the “Consolidated Derivative Action”). On November 21, 2023, the Court entered an order staying the Consolidated Derivative Action pending a ruling on the motion for class certification in the putative Winter securities class action. The defendants believe the allegations in the Consolidated Derivative Action are without merit and intend to defend the suits vigorously. On November 14, 2023, and February 4, 2024, respectfully, purported shareholders of the Company filed two additional derivative actions in the United States District Court for the Southern District of New York (Parker v. Beard, Case No. 23 Civ. 10028 and Bruno v. Beard, Case No. 24 Civ. 798) against certain of our current and former directors and officers, and the Company as a nominal defendant. These lawsuits assert substantially the same claims and allegations as the Wilson and Navarro complaints. Plaintiff in the Bruno action had previously served a books and records demand, as well as an investigation/litigation demand, on the Company making similar allegations. On April 24, 2024, the Parker and Bruno cases were consolidated with the Consolidated Derivative Action by agreement of the parties. As a result, the Parker and Bruno cases are also stayed pending further proceedings in the putative Winter securities class action. Representatives for the Company and plaintiffs executed a Memorandum of Understanding reflecting the terms of their agreement in principle on July 18, 2024. On November 8, 2024, counsel for all parties to the Class Action executed a Stipulation of Settlement (the "Stipulation") which contains the terms of the settlement of the Class Action. Among other terms, the Company has agreed to pay an amount equal to $4.75 million payable in cash on the first day of the month following entry by the District Court of an order preliminarily approving the Stipulation (the "Preliminary Approval"). The Preliminary Approval is expected to be entered into within ninety (90 days) of November 8, 2024. $2.5 million is expected to be covered in full by the Company's insurance providers and paid directly at the time of Preliminary Approval. The terms of the Stipulation also include the Company paying the cash value of twenty-five (25) Bitcoins, one of which will be paid monthly for two years beginning on the first day of the month following Preliminary Approval, and two of which will be paid in the final month. The cash value of each Bitcoin is expected to be calculated monthly according to a price set by the Nasdaq Bitcoin reference price index. The Company expects District Court to enter the Preliminary Approval Order and to schedule a Final Hearing, at which time the shareholders may raise objections to the terms of the settlement as set forth in the Stipulation. The Company expects the final hearing to be scheduled approximately 120 days after the District Court enters the Preliminary Order. The Company has not executed a Memorandum of Understanding with respect to the Consolidated Derivative Actions to date. The Company has agreed to settle the claims in order to avoid the cost, risks and distraction of continued litigation, as the expected costs of defense likely exceeded to amounts agreed to in the Stipulation. The Company continues to deny all allegations of wrongdoing and the Stipulation is not an admission of guilt. However, given the inherent risk of any trial and the potential cost of an adverse resolution of the litigation, the Company believes that the Stipulation is in the Company’s best interest and in the best interests of its stockholders. 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 the Company purchased from Treis Blockchain, LLC ("Treis") in December 2021 contained firmware that is alleged to have constituted “trade secrets” owned by Grams. Principally, the Grams Complaint included allegations of misappropriation of these alleged trade secrets. The Company believes that the allegations against it and its subsidiaries in the Grams Complaint are without merit and intends to vigorously defend the suit. To that end, the Company has entered into a joint defense agreement with Treis and the other named defendants. The Company has also entered into a tolling agreement with Treis. The Company filed a motion to dismiss the case for lack of personal jurisdiction on June 23, 2023. On October 6, 2023, Grams filed an Amended Complaint, to which the Company filed a renewed Motion to Dismiss for Lack of Personal Jurisdiction, or in the Alternative to Transfer the Case to the District of South Carolina, in addition to a renewed Motion to Dismiss several causes of action alleged in the Amended Complaint. On December 8, 2023, the Company filed its reply to Plaintiff’s response to the Company's Motion to Transfer or Alternatively to Dismiss pursuant to Rule 12(b)(2). On April 12, 2024, Grams filed an opposition to the Company’s previously filed motion to dismiss. On April 22, 2024, the Company filed a reply in support of its motion to dismiss. A ruling on the pending motions is expected to be forthcoming in the foreseeable future. On July 8, 2024, the Court denied the Motion to Dismiss for Lack of Personal Jurisdiction, or in the Alternative to Transfer the Case to the District of South Carolina. It further requested the Defendants to refile their Motion to Dismiss several causes of action alleged in the Amended Complaint so that the court could consider that motion separately. Defendants filed their Motion to Dismiss on July 22, 2024. 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. MinerVa Purchase Agreement On July 18, 2022, the Company provided written notice of dispute to MinerVa pursuant to the MinerVa Purchase Agreement. Under the MinerVa Purchase Agreement, the Company and MinerVa were required to work together in good faith towards a resolution for a period of sixty (60) days following this notice, after which, if no settlement had been reached, the Company could end discussions, 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. On October 30, 2023, the Company sent MinerVa a Notice of Impasse. On October 31, 2023, the Company filed a Statement of Claim in Calgary, Alberta against MinerVa for breach of contract related to the MinerVa Purchase Agreement. On October 18, 2024, the Company filed an Amended Statement of Claim that adds additional misrepresentation allegations against MinerVa and Chong Chao Ma, MinerVa’s former Chief Executive Officer and Director. The Claim is ongoing before the Alberta courts. John W. Krynock v. Panther Creek Fuel Services, LLC c/o Olympus Power On June 2, 2023, Panther Creek Fuel Services, LLC, an affiliate of the Company was named as a defendant in a Federal Black Lung Case under Title IV of the Federal Coal Mine Health and Safety Act of 1969. The Plaintiff previously settled a state law claim with a predecessor in interest of the Company. The Company denies any liability in connection with the claim and intends to defend the suit vigorously. The Company does not believe that the claim will have a material adverse effect on the Company’s reported financial position or results of operations, although the Company cannot predict with any certainty the outcome of these proceedings. Department of Environmental Protection On November 9, 2023, the Company entered into a Consent Order and Agreement (“COA”) with the Commonwealth of Pennsylvania, Department of Environmental Protection (“DEP”). Pursuant to the COA, the DEP found that a July 5, 2022, inspection of the Company’s Scrubgrass Plant observed that coal ash at the Scrubgrass Plant exceeded the capacity of the permitted ash conditioning area as approved by the DEP on September 12, 2007. The COA found that the Scrubgrass Plant’s storage of excess waste coal ash violated certain provisions of the Solid Waste Management Act and Pennsylvania Code, among other items. Pursuant to the COA, Scrubgrass must pay a civil penalty in the amount of $28,800, in two equal installments within ninety (90) days of entry into the COA. The Company made the first payment to the DEP on November 10, 2023. The terms of the COA also require the Company to remove (i) a minimum of 80,000 tons of excess waste coal ash by November 9, 2024, (ii) 160,000 aggregate tons of excess waste coal ash by November 9, 2025, (iii) 220,000 aggregate tons of excess waste coal ash by November 9, 2026, and (iv) all remaining excess waste coal ash by November 9, 2027, such that the ash conditioning area is consistent with the specifications accepted by the DEP on September 7, 2007. Beginning on January 24, 2024, the Company is to provide quarterly progress reports to the DEP. On December 15, 2023, the Scrubgrass Creek Watershed Association and Citizens for Pennsylvania’s Future filed a Notice of Appeal to the Environmental Hearing Board regarding the COA (the “COA Appeal”). The Company has removed in excess of 80,000 tons coal ash from the Scrubgrass Plant during the time period from November 9, 2023 until November 9, 2024. The Company has been made aware that waste coal ash from one transporter may not have arrived at its contracted location. The Company is currently investigating this situation. This waste coal ash represents a small percentage of the waste coal ash to be removed under the COA. Previously, in connection with the COA, in 2023 the Company had discussions with the Pennsylvania Public Utilities Commission (“PUC”) and the DEP regarding potential resettlement or forfeiture of Pennsylvania Tier II Alternative Energy Credits during any period of non-compliance, between July 5-22, 2022. In February of 2024, the Company retired 25,968 Alternative Energy Credits reflective of the amount of credits generated during the period of non-compliance from July 5-22, 2022. At this time, the Company does not believe the COA, COA Appeal or discussions with the PUC will have a material adverse effect on the Company’s reported financial position or its operations. Save Carbon County On March 26, 2024, the Company, Panther Creek Power Operating, LLC, Stronghold and Stronghold LLC were named as defendants (collectively, the “Stronghold Defendants”) in a complaint filed in the Court of Common Pleas in Philadelphia County by Save Carbon County (the “Complaint”). In addition to the Stronghold Defendants, Josh Shapiro in his capacity as the Governor of the Commonwealth of Pennsylvania, the Pennsylvania Department of Environmental Protection, Jessica Shirley in her capacity as the Interim Secretary for the Pennsylvania Department of Environmental Protection, and the Pennsylvania Public Utility Commission were named as defendants. Pursuant to the Complaint, Save Carbon County alleges certain public nuisance, private nuisance, products liability, and negligence claims against the Stronghold Defendants and demands compensatory and punitive damages, together with costs of suit, interest, and attorney’s fees. On July 30, 2024, the parties stipulated to the transfer of the litigation to the Commonwealth Court of Pennsylvania, where the litigation will resume in the initial pleading stage, including resolution of preliminary objections to dismiss or narrow the scope of the Complaint's claims. The Commonwealth Court processed the transfer on October 8, 2024, and the Company filed its preliminary objections on October 28, 2024. The Company believes the Complaint is without merit. The Company does not believe that the claim will have a material adverse effect on the Company’s reported financial position or results of operations, although the Company cannot predict with any certainty the outcome of these proceedings.

EQUIPMENT DEPOSITS	9 Months Ended
EQUIPMENT DEPOSITS	Sep. 30, 2024
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). The total equipment deposits of $8,000,643 as of December 31, 2023, represent cash paid for the following 5,000 miner assets: (i) 1,100 MicroBT WhatsMiner M50 miners; (ii) 2,800 Bitmain Antminer S19k Pro miners; and (iii) 1,100 Canaan Avalon A1346 miners. These miner assets were all delivered to the Company during the first quarter of 2024, resulting in an equipment deposits balance of $0 as of September 30, 2024.