Stronghold Digital Mining, Inc. (NASDAQ:SDIG) Q3 2023 Earnings Call Transcript

Matthew Smith: Sure. So we’ve placed we have one, we have a single creditor, the credit agreements available publicly for cash above that $7.5 million level, there is a sweep that works to kind of mechanically pay that down over time. We do not have mandatory immunization starting until well after the halving in July of 24 and beyond. We’ve got a really good relationship with that creditor. And I would point out maybe the interest rate is wide plus, SPFR plus 1100 basis points. We think we’ll have opportunities or we hope to have opportunities over the next 12 months with success and value creation from what we’re announcing today to meaningfully improve our cost of capital relative to that.

Nick Giles: That’s good to hear. Tune the team to continue best work. Thanks again.

Gregory Beard: Yes, correct myself. It’s SOFR plus 10% not SOFR plus 11. Forgive me.

Operator: At this time, this concludes our question and answer session. I’d now like to turn the call back over to Mr. Beard for his closing remarks.

Gregory Beard: All right. Hey thank you very much for your insightful questions. Hopefully any investors or interested parties that are listening out there have processed what we’ve said in terms of the presentation and help clarify with the Q&A here. We’re going to do our best to communicate really well over the next few months just to quickly and slowly disclose information as we get it. But thanks for listening and we’re excited about our prospects here. Bye-bye.

Operator: Thank you for joining us today for Strongholds earnings call. You may now disconnect.