Stronghold has been focused on the optimization of its data centers following the receipt of the Bitcoin miners to reach its previously announced 4 EH/s target. This has included working with Frontier Mining, an industry-leading Bitcoin mining data center management company, in a temporary consulting capacity regarding a thorough assessment of the opportunity to maximize data center revenue opportunities. On October 13, 2023, Stronghold Digital Mining LLC, a wholly owned subsidiary of the company, and Frontier Outpost 8 entered into a Managed Services Agreement pursuant to which Frontier is to provide certain services, including monitoring, operating, and maintaining the company’s wholly owned data centers located at each of the Panther Creek power plant and the Scrubgrass Plant.
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