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Digihost Technology Inc. (DGHI) is a prominent player in the blockchain sector, primarily focused on Bitcoin mining. Located in Buffalo, New York, the company's cutting-edge mining facility boasts an 18.7 MVA 115,000-kilovolt ampere outdoor substation, with plans to enhance power output to 42MVA. This strategic location supports Digihost's operational efficiency and scalability objectives.
Committed to sustainability, Digihost leverages renewable and sustainable energy sources for its operations. Impressively, 90% of the energy consumed in its operations is derived from zero-carbon emission sources, with over 50% generated from renewable energy. As part of its forward-thinking approach, the company is acquiring and operating its own power generation facilities, focusing on low-carbon and bridge power sources to further reduce its carbon footprint.
Digihost's core competencies extend beyond mining to network development and hosting, showcasing its versatility in the blockchain technology landscape. The company's strategic initiatives aim to revolutionize power usage and blockchain applications, contributing to a more sustainable and efficient industry.
In a significant move to enhance investor confidence and broaden capital access, Digihost has transitioned its shares from the OTC market to the Nasdaq. This up-listing is intended to provide greater liquidity and attract a broader investor base, reinforcing the company’s financial stability and growth prospects.
Recent achievements for fiscal 2023 include noteworthy milestones such as achieving significant adjusted EBITDA figures, indicating robust financial health and operational success. Comparative financial highlights for the three-month period ended March 31, 2024, further illustrate Digihost's consistent performance and strategic growth.
Devoted to transparency, Digihost regularly issues designated news releases, providing updates on financial performance, strategic initiatives, and market developments. This commitment to communication ensures that stakeholders are well-informed about the company's progress and future directions.
Digihost Technology (Nasdaq/TSXV: DGHI) released its October 2024 production update. The company reported holding approximately $9.0 million in cash, BTC, and cash deposits as of October 31, 2024, compared to $9.2 million in September. Mining operations produced about 38 BTC in October, marking a 10% increase from the previous month. The company invested $0.4 million in capital expenditures and infrastructure. Currently operating at 90MW capacity with a 2 EH/s hashrate, Digihost aims to reach 3 EH/s by December 2024. The company is also developing its first Tier 3 data center, scheduled for completion by end-2025 or Q1 2026.
Digihost Technology Inc. (Nasdaq / TSXV: DGHI) has released its unaudited Bitcoin production results for September 2024. The company held approximately $9.2 million in cash, BTC, and cash deposits as of September 30, 2024. Miners at Digihost's facilities produced approximately 35 BTC during September, a decrease from the previous month due to a temporary outage at the North Tonawanda power plant for maintenance.
The company spent about $0.3 million on capital expenditures and is developing its initial Tier 3 data center, expected to be completed by the end of 2025 or Q1 2026. Officers and directors of Digihost entered agreements to acquire 685,038 subordinate voting shares in private transactions. Currently, Digihost's consolidated operating capacity is approximately 90MW with a hashrate of 2.75 EH/s.
Digihost Technology Inc. (Nasdaq / TSXV: DGHI) has announced its role as the anchor commercial subscriber in Nautilus Solar Energy's new 5.5 MW community solar project in Grand Island, New York. The project, launched on September 5th, 2024, will provide clean energy to over 850 local residents and businesses. It's expected to generate 8.35 million kWh of clean energy annually, offsetting nearly 6,000 metric tons of greenhouse gas emissions.
This initiative aligns with Digihost's DigiGreen Initiative, aiming for net zero emissions from BTC mining operations by 2030. The company's current consolidated operating capacity is about 90MW, with a mining hashrate of 2.75 EH/s. Digihost is also exploring opportunities to build its initial Tier 3 data center by the end of 2025.
Digihost Technology Inc. (Nasdaq / TSXV: DGHI) reported a significant increase in its financial position and Bitcoin production for August 2024. The company's cash and crypto holdings rose by 50% to $10.4 million compared to the previous month. Bitcoin production increased by 30% to 55 BTC in August. Digihost is deploying 11,000 new S21 miners, aiming to reach 3.2 EH/s by September 2024. The company raised $4 million through a private placement, selling 3,636,363 units at $1.10 each. Currently operating at 2.75 EH/s with 90MW capacity, Digihost plans to build a Tier 3 data center by the end of 2025.
Digihost Technology Inc. (Nasdaq / TSXV: DGHI) reported a 57% increase in quarterly revenue for Q2 2024, reaching $9.23 million compared to $5.87 million in Q2 2023. The company's EBITDA for YTD 2024 was $8 million. Key highlights include:
- Revenue from energy sales increased by 123% compared to Q2 2023
- Total assets of $41.16 million
- Digital currencies valued at $2.60 million, up 68% from Q2 2023
- Current operating capacity of 90MW with a hashrate of 2.75 EH/s
Digihost aims to diversify its mining operations and expand its operational footprint in New York and Alabama. The company plans to increase its hashing power by approximately 4EH by the end of 2024.
Digihost Technology Inc. (Nasdaq / TSXV: DGHI), a U.S.-based blockchain and computer infrastructure company, has announced a US$4 million private placement of equity securities. The placement involves 3,636,363 units at US$1.10 per unit, a 9% premium to the recent closing price. Each unit includes one subordinate voting share and one warrant, with warrants exercisable at US$2.00 per share for three years.
The proceeds will fund infrastructure expansion acquisitions and working capital. The private placement, subject to regulatory approvals, is expected to close around August 9, 2024. No securities were offered to Canadian residents, and the offering is not registered under U.S. securities laws.
Digihost Technology Inc. (Nasdaq / TSXV: DGHI) has released its unaudited Bitcoin production results for July 2024 and provided an operations update. Key highlights include:
- Cash, BTC, and cash deposits totaled approximately $6.9 million as of July 31, 2024 (based on a BTC price of $65,100).
- Miners at the Company's facilities produced approximately 42 BTC during July.
- Digihost is integrating 11,000 S21 miners, increasing its hash rate to 2.75 EH/s, with a target of 3.2 EH/s by the end of August 2024.
- The Company spent about $0.8 million on capital expenditures and infrastructure support.
- Digihost's consolidated operating capacity across three sites represents approximately 90MW of available power.
The Company continues to monetize a portion of its BTC production to fund energy costs and limit equity dilution for shareholders.
Digihost Technology announced an 18% increase in its cash and cryptocurrency holdings month-over-month, totaling $7.1 million as of June 30, 2024. The company produced 45 Bitcoin in June 2024, and plans to integrate 11,000 S21 miners, which will add approximately 44MW of shared revenues and increase its hash rate to 3.2 EH/s by the end of Q3 2024. Digihost continues to self-fund its capital expenditures of $0.4 million, reducing shareholder equity dilution. The company's total operating capacity stands at 90MW with a current hashrate of 2 EH/s.
Digihost announced a profit-sharing agreement with a strategic partner to expand its Bitcoin mining operations. The company will integrate 11,000 state-of-the-art S21 miners, boosting its hashing rate to 3.2 EH/s by the end of Q3 2024. This will be achieved without increasing energy consumption, leveraging Digihost's existing infrastructure for cost efficiencies. Additionally, the company aims to achieve a hash rate of 5 EH/s by the end of 2024. Digihost remains committed to sustainability, aiming for 100% carbon-free energy through Renewable Energy Certificates and a community solar project in New York. Currently, the company operates at a hashrate of 2 EH/s with 90MW of available power.
Digihost Technology (Nasdaq/TSXV: DGHI) provided its May 2024 production and operations update. The company held $6.0 million in cash, BTC, and deposits, down from $6.7 million in April 2024. It produced 50 BTC in May, impacted by the April Bitcoin halving event. Digihost spent $2.2 million on capital expenditures and infrastructure. To minimize equity dilution, it monetized part of its BTC for energy costs. On May 24, 2024, Digihost received a Nasdaq notice for not filing its 2023 Annual Report on time. They have 60 days to submit a compliance plan. The company operates at 90MW power capacity with a 2 EH/s hashrate.
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