Stronghold Digital Mining plunges as loss widens in Q2

Stronghold Digital Mining

17/08/2022 11:09

** Shares of crypto asset miner Stronghold Digital Mining
Inc  SDIG.O  fall ~12.9% to $2.78 before the bell 
    ** Co posts Q2 net loss of $40.2 mln vs $3.2 mln last year
 urn:newsml:reuters.com:*:nGNX5Zl3Wq
    ** Revenue in quarter was $29.2 mln, missing analysts'
expectations of $34.9 mln, according to Refinitiv data 
    ** Crypto firms have been battered in recent months after
so-called 'crypto winter' depressed price of biggest digital
asset, bitcoin  BTC=BTSP 
    ** Investor enthusiasm over bitcoin, other digital
currencies has also ebbed this year amid sell-off in risky
assets 
    ** All six brokerages covering SDIG rate it "buy" or higher;
their median PT is $7 vs $8.50, a month earlier - Refinitiv data
    ** As of last close, stock down ~75.2% YTD 

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))