Stronghold Digital Mining Highlights Environmental Stewardship in Response to Congressional Inquiry

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NEW YORK, Feb. 08, 2022 (GLOBE NEWSWIRE) — Stronghold Digital Mining, Inc. (Nasdaq: SDIG) (“Stronghold”, or the “Firm”) right now responded to an inquiry from a gaggle of United States Senators and members of Congress dated January 27, 2022, which particulars its dedication to fostering a optimistic environmental impression and the Firm’s earlier and ongoing reclamation and remediation efforts. The complete response letter is on the market here and has been posted to the Investor part of the Firm’s company web site at www.strongholddigitalmining.com with highlights from the letter included beneath.

“We’re excited to interact with U.S. Congressional representatives to higher educate the group about our earlier and ongoing optimistic environmental impression,” stated Greg Beard, co-chairman and chief govt officer of Stronghold. “We consider that our differentiated enterprise mannequin demonstrates how Bitcoin mining can have a helpful impression on the surroundings, native communities and grid stability.”

Excerpts from Stronghold’s full response letter:

“Pennsylvania has deemed the reclamation of coal refuse websites as an environmental precedence, and for the reason that early Nineteen Nineties, an unofficial public-private-partnership has developed between the coal refuse reclamation-to-energy business and the Commonwealth of Pennsylvania.”“There are greater than 840 coal refuse piles at these deserted mine lands throughout Pennsylvania, which cowl an aggregated space of 8,500 acres and include a complete quantity of greater than 200 million cubic yards. The full quantity of coal refuse in Pennsylvania is unknown however estimates vary from between 200 million and eight billion cubic yards.”“The Services characterize an environment friendly conversion of damaging waste product into energy whereas serving to obtain governmental priorities.”“We convert extremely polluting coal refuse into energy and helpful use ash, which consists of fly ash and backside ash that may be beneficially reused for mine reclamation efforts and as an additive in concrete manufacturing.”“Our CFB expertise helps to manage emissions of sulfur dioxide (“SO2”), nitrogen oxides (“NOx”), air toxins, and whole particulate matter by eradicating ~90% of NOx emissions, ~98% of SO2 emissions, ~99.9% of particulate emissions and ~99.9% of mercury emissions.”“Our Services are able to diligently addressing this damaging waste product and changing over 1.25 million tons of coal refuse into vitality yearly.”“Bitcoin mining is a major client of our energy however doesn’t preclude us from supplying energy to the grid when dispatched or during times of excessive energy costs.”“The Services presently make use of over 110 people within the land reclamation, energy administration, information heart and associated sectors, and we plan to rent or organize to rent roughly an extra 30 staff in Venango and Carbon Counties in 2022.”

About Stronghold Digital Mining, Inc. Stronghold is a vertically built-in Bitcoin mining firm with an emphasis on environmentally helpful operations. Stronghold homes its miners at its wholly owned and operated Scrubgrass Plant and Panther Creek Plant, each of that are low-cost, environmentally helpful coal refuse energy era amenities in Pennsylvania.

Cautionary Assertion Regarding Ahead-Trying Statements

Sure statements contained on this press launch represent “forward-looking statements” inside the that means of the Personal Securities Litigation Reform Act of 1995. You’ll be able to establish forward-looking statements as a result of they include phrases corresponding to “believes,” “expects,” “could,” “will,” “ought to,” “seeks,” “roughly,” “intends,” “plans,” “estimates” or “anticipates” or the damaging of those phrases and phrases or related phrases or phrases that are predictions of or point out future occasions or tendencies and which don’t relate solely to historic issues. Ahead-looking statements and the enterprise prospects of Stronghold are topic to numerous dangers and uncertainties which will trigger Stronghold’s precise leads to future durations to vary materially from the forward-looking statements. These dangers and uncertainties embody, amongst different issues: our dependence on the extent of demand and monetary efficiency of the crypto asset business; our potential to handle progress, enterprise, monetary outcomes and outcomes of operations; our potential to accumulate and obtain miners on a well timed foundation or in any respect; our potential to boost capital to fund enterprise progress; our potential to enter into buy agreements and acquisitions; our potential to finance our progress; our potential to fulfill the collateral necessities beneath our finance agreements; public well being crises, epidemics, and pandemics such because the coronavirus pandemic; our potential to acquire crypto asset mining gear; our potential to reply to worth fluctuations and quickly altering expertise; our potential to function our coal refuse energy era amenities as deliberate; and legislative or regulatory adjustments, and legal responsibility beneath, or any future lack of ability to adjust to, current or future vitality laws or necessities. Extra info on these dangers and different potential components that would have an effect on our monetary outcomes is included in our filings with the Securities and Change Fee, together with within the “Danger Components” and “Administration’s Dialogue and Evaluation of Monetary Situation and Outcomes of Operations” sections of our Registration Assertion on Type S-1 (File No. 333-258188), filed on October 19, 2021, and any subsequently filed Quarterly Studies on Type 10-Q. Any forward-looking assertion speaks solely as of the date as of which such assertion is made, and, besides as required by legislation, we undertake no obligation to replace or revise publicly any forward-looking statements, whether or not due to new info, future occasions, or in any other case.

Investor Contact:

Matt Glover or Jeff Grampp, CFA Gateway Group, Inc. SDIG@GatewayIR.com 1-949-574-3860

Media Contact:

contact@strongholddigitalmining.com

Copyright 2022 GlobeNewswire, Inc.

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