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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) and NANO Nuclear Energy (NASDAQ: NNE) have jointly submitted a response to the New York State Energy Research and Development Authority's (NYSERDA) Request for Information regarding advanced nuclear energy technologies development. This submission follows their December 13 MOU to transition Digihost's 60-megawatt power plant in upstate New York to carbon-free energy.
The RFI, announced on November 15, 2024, seeks to explore market interest in renewable deployment and advanced nuclear technology development, including NANO Nuclear's 'ZEUS' and 'ODIN' microreactors. The collaboration aims to support New York State's goals of achieving a zero-emission grid and provides practical strategies for addressing energy challenges faced by industries within the state.
Digihost Technology (NASDAQ/TSXV: DGHI) and NANO Nuclear Energy (NASDAQ: NNE) have signed a Memorandum of Understanding to implement advanced nuclear reactor technology at Digihost's 60MW power plant in upstate New York. The collaboration aims to transition Digihost's existing gas power infrastructure to carbon-free energy using NANO Nuclear's 'ZEUS' and 'ODIN' portable microreactors.
The project targets reactor integration by 2031, with NANO Nuclear providing consulting services for regulatory advice, site assessment, roadmap development, and stakeholder engagement. The partnership focuses on enhancing public understanding of nuclear energy while supporting Digihost's expansion into Tier III HPC data centers and digital asset colocation programs.
Digihost Technology (Nasdaq/TSXV: DGHI) reported its November 2024 production results, highlighting a 26% month-over-month revenue increase. The company held approximately $10.0 million in cash, BTC, and deposits as of November 30, 2024, marking an 11% monthly increase. Miners produced about 37 BTC during November. The company invested $0.4 million in capital expenditures, bringing year-to-date CAPEX to $5 million. Digihost operates with 100MW of available power across three sites, with access to an additional 300MW for future development. A flagship plant is temporarily offline for maintenance, expected to resume by December 2024.
Digihost Technology reported significant financial growth in Q3 2024, with revenue reaching $9.2M, up 71% from Q3 2023. Year-to-date revenue hit $31.4M, marking a 104% increase year-over-year. The company's EBITDA grew 350% to $5.5M for the first nine months of 2024. Revenue diversification through colocation services became the largest segment, while energy sales increased 128%. Operating at 100MW across three sites with a 3 EH/s hash rate, Digihost plans to expand to 6-7 EH by 2026. The company is transitioning focus from direct mining to colocation services and power development.
Digihost Technology (Nasdaq/TSXV: DGHI), an energy infrastructure company focused on data centers, has scheduled its Q3 2024 earnings release for November 15, 2024, before market open. The company will host a conference call at 8:30 AM ET on the same day to discuss the financial results and provide operational updates. The call will be accessible via phone (1-877-407-9039 or 1-201-689-8470) or through a Call Me link. Digihost has also released a new investor presentation that will be referenced during the earnings call.
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.
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