Stronghold Digital Mining, listed on Nasdaq, is exploring a potential sale to enhance shareholder value, as disclosed in its first-quarter financial report.

The company is evaluating various options, including selling all or part of the business, to optimise its share price.

CEO Greg Beard highlighted a comprehensive review of strategic alternatives aimed at maximising shareholder returns, citing valuation disparities compared to peers in the Bitcoin mining, power generation, and data center sectors.

Stronghold boasts significant infrastructure, including 130MW of fully operational data center capacity and extensive land holdings, positioning it for potential expansion beyond its current hash rate capacity.

Q1 2024 results showcased robust revenue growth, reaching $27.5 million, with a net income of $5.8 million, reflecting a promising financial outlook amidst strategic considerations.