Stronghold Digital stock drop 26% after Q4 miss, disappointing 2022 guidance

Shares of Bitcoin (BTC-USD) miner Stronghold Digital (NASDAQ:SDIG) are falling over 26% in afterhours trading Tuesday following worse-than-expected Q4 results, as well as disappointing full-year guidance. Delays in miner deliveries and datacenter buildout, along with operational challenges at its Scrubgrass Plant, have "negatively impacted" the company's 2022 cash flow and capital expenditure targets. It expects hash rate capacity of up to 5.5 exahash per second at year-end, if the remaining MinerVa miners are delivered, and 4.3 EH/s if no additional MinerVa miners are delivered. This compares with its prior target of 8.0 EH/s. Meanwhile, Stronghold Digital (SDIG) in Q4 held $7.71M worth of digital currencies on its balance sheet, up from just $228.08K in Q4 2020. It had received approximately 25,200 miners with total hash rate capacity of ~2.3 EH/s as of March 24. Q4 crypto mining revenue was $8.59M vs. $118K in Q4 a year ago. Q4 revenues of $17M fell short of the