Digihost Increases Cash Flow Position and Revenues Year Over Year and Provides December 2024 Production Update
Digihost Technology (DGHI) reported significant financial growth in December 2024, with cash, BTC, and deposits reaching $10.0 million, a 257% increase from $2.3 million in December 2023. Monthly revenue grew 21% year-over-year to $3.4 million, despite challenges including a temporary site shutdown and the Bitcoin halving event.
The company produced approximately 35 BTC across its mining and hosting operations in December. Capital expenditures for the month totaled $0.5 million, bringing the 2024 total CAPEX to $5.5 million. Digihost currently operates with 100MW of available power across three sites, with access to an additional 300MW for future development.
In December 2024, Digihost formed a strategic partnership with NANO Nuclear Energy, signing an MOU to integrate nuclear energy technologies at its 60MW New York facility. The companies jointly responded to NYSERDA's Request for Information, demonstrating their commitment to zero-emission energy solutions.
Digihost Technology (DGHI) ha riportato una crescita finanziaria significativa nel dicembre 2024, con un totale di cassa, BTC e depositi che ha raggiunto i 10,0 milioni di dollari, un aumento del 257% rispetto ai 2,3 milioni di dollari di dicembre 2023. I ricavi mensili sono aumentati del 21% rispetto all'anno precedente, arrivando a 3,4 milioni di dollari, nonostante le sfide, tra cui una chiusura temporanea del sito e l'evento di halving del Bitcoin.
La società ha prodotto circa 35 BTC attraverso le sue operazioni di mining e hosting nel mese di dicembre. Le spese capitali per il mese hanno totalizzato 0,5 milioni di dollari, portando il totale delle CAPEX del 2024 a 5,5 milioni di dollari. Digihost attualmente opera con 100MW di potenza disponibile in tre siti, con accesso a ulteriori 300MW per sviluppi futuri.
Nel dicembre 2024, Digihost ha costituito una partnership strategica con NANO Nuclear Energy, firmando un MOU per integrare tecnologie nucleari presso la sua struttura di New York da 60MW. Le aziende hanno risposto congiuntamente alla Richiesta di Informazioni della NYSERDA, dimostrando il loro impegno per soluzioni energetiche a zero emissioni.
Digihost Technology (DGHI) reportó un crecimiento financiero significativo en diciembre de 2024, con efectivo, BTC y depósitos alcanzando los 10,0 millones de dólares, un aumento del 257% desde los 2,3 millones de dólares en diciembre de 2023. Los ingresos mensuales crecieron un 21% en comparación con el año anterior, alcanzando los 3,4 millones de dólares, a pesar de desafíos como el cierre temporal del sitio y el evento de halving de Bitcoin.
La compañía produjo aproximadamente 35 BTC en sus operaciones de minería y alojamiento en diciembre. Los gastos de capital para el mes totalizaron 0,5 millones de dólares, llevando el total de CAPEX de 2024 a 5,5 millones de dólares. Digihost actualmente opera con 100MW de potencia disponible en tres sitios, con acceso a otros 300MW para el desarrollo futuro.
En diciembre de 2024, Digihost formó una asociación estratégica con NANO Nuclear Energy, firmando un MOU para integrar tecnologías de energía nuclear en su instalación de Nueva York de 60MW. Las compañías respondieron conjuntamente a la Solicitud de Información de NYSERDA, demostrando su compromiso con soluciones energéticas de cero emisiones.
Digihost Technology (DGHI)는 2024년 12월에 괄목할 만한 재정 성장을 보고하였으며, 현금, BTC 및 예금이 1천만 달러에 도달하여 2023년 12월의 230만 달러에서 257% 증가하였습니다. 월간 수익은 지난해 대비 21% 증가하여 340만 달러에 이르렀으며, 일시적인 사이트 중단 및 비트코인 반감기 이벤트와 같은 어려움에도 불구하고 이런 성과를 달성하였습니다.
회사는 12월에 약 35 BTC를 채굴 및 호스팅 운영을 통해 생산하였습니다. 이 달에 대한 자본 지출은 50만 달러로, 2024년 총 CAPEX를 550만 달러로 끌어올렸습니다. Digihost는 현재 3개 사이트에서 사용 가능한 100MW의 전력을 운영하고 있으며, 향후 개발을 위해 추가로 300MW에 접근할 수 있습니다.
2024년 12월, Digihost는 NANO Nuclear Energy와 전략적 파트너십을 형성하여 뉴욕에 위치한 60MW 시설에 핵 에너지 기술을 통합하기 위한 MOU를 체결하였습니다. 두 회사는 NYSERDA의 정보 요청에 공동으로 응답하며, 제로 배출 에너지 솔루션에 대한 헌신을 보여주었습니다.
Digihost Technology (DGHI) a rapporté une croissance financière significative en décembre 2024, avec des liquidités, BTC et dépôts atteignant 10,0 millions de dollars, soit une augmentation de 257% par rapport à 2,3 millions de dollars en décembre 2023. Les revenus mensuels ont augmenté de 21% d'une année sur l'autre pour atteindre 3,4 millions de dollars, malgré des défis tels qu'une fermeture temporaire du site et l'événement de halving du Bitcoin.
La société a produit environ 35 BTC grâce à ses opérations de minage et d'hébergement en décembre. Les dépenses en capital pour le mois se sont élevées à 0,5 millions de dollars, portant le total des CAPEX de 2024 à 5,5 millions de dollars. Actuellement, Digihost fonctionne avec 100MW de puissance disponible sur trois sites, avec un accès à un supplément de 300MW pour le développement futur.
En décembre 2024, Digihost a formé un partenariat stratégique avec NANO Nuclear Energy, signant un MOU pour intégrer des technologies d'énergie nucléaire dans son installation de 60MW à New York. Les entreprises ont conjointement répondu à la Demande d'Information de NYSERDA, démontrant leur engagement envers des solutions énergétiques à zéro émission.
Digihost Technology (DGHI) berichtete im Dezember 2024 von einem signifikanten finanziellen Wachstum, wobei Bargeld, BTC und Einlagen 10,0 Millionen Dollar erreichten, was einem Anstieg von 257% im Vergleich zu 2,3 Millionen Dollar im Dezember 2023 entspricht. Der monatliche Umsatz stieg im Jahresvergleich um 21% auf 3,4 Millionen Dollar, trotz Herausforderungen wie einer vorübergehenden Stilllegung des Standorts und dem Bitcoin-Halving-Ereignis.
Das Unternehmen produzierte im Dezember etwa 35 BTC aus seinen Mining- und Hosting-Betrieben. Die Investitionsausgaben für den Monat beliefen sich auf 0,5 Millionen Dollar, was die gesamten CAPEX für 2024 auf 5,5 Millionen Dollar brachte. Digihost betreibt derzeit mit 100MW verfügbarer Leistung an drei Standorten und hat Zugang zu weiteren 300MW für zukünftige Entwicklungen.
Im Dezember 2024 bildet Digihost eine strategische Partnerschaft mit NANO Nuclear Energy und unterzeichnet ein MOU zur Integration von Kernenergietechnologien in seiner 60MW-Anlage in New York. Die Unternehmen haben gemeinsam auf die Anfrage für Informationen von NYSERDA reagiert und ihr Engagement für emissionsfreie Energielösungen demonstriert.
- Cash position increased 257% YoY to $10.0 million
- Revenue grew 21% YoY to $3.4 million in December 2024
- Access to 300MW additional power capacity for future expansion
- Strategic partnership with NANO Nuclear Energy for clean energy integration
- Temporary shutdown of flagship mining site affecting operations
- Bitcoin halving event reduced mining rewards by 50%
- Significant CAPEX deployment of $5.5 million in 2024
Insights
The December 2024 results showcase remarkable financial improvements for Digihost. The 257% increase in cash position to
The
The strategic partnership with NANO Nuclear Energy marks a pivotal shift in Digihost's energy infrastructure strategy. The integration of nuclear microreactors at the New York facility could significantly reduce operational costs while addressing regulatory compliance with state environmental policies. The planned 60MW facility upgrade represents an innovative approach to sustainable mining operations.
The temporary shutdown for maintenance, while impacting current production, ensures long-term operational reliability. The additional 300MW power allocation provides substantial growth runway, potentially translating to a 4x expansion in mining capacity. This infrastructure positioning is particularly valuable given the current favorable Bitcoin market conditions.
The production of 35 BTC in December across self-mining and hosting operations, despite one facility being offline, indicates efficient mining operations. The timing of the maintenance shutdown and subsequent January restart aligns well with current market conditions, where Bitcoin trades above
The strategic focus on power infrastructure development, coupled with the exploration of nuclear energy solutions, positions Digihost favorably against competitors in terms of operational sustainability and cost management. This could become increasingly important as mining difficulty continues to rise post-halving.
MIAMI, Jan. 02, 2025 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq / TSXV: DGHI), an innovative energy infrastructure company that develops cutting-edge data centers, is pleased to provide unaudited comparative Bitcoin (“BTC”) production results for the month ended December 31, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.
Monthly Production Highlights for December 2024
- The Company held cash, BTC and cash deposits of approximately
$10.0 million as of December 31, 2024, as compared to$2.3 million on December 31, 2023 (based on a BTC price of$93,429 as of December 31, 2024 and$42,265 as of December 31, 2023, per CoinMarketCap), representing an increase in cash balance of257% .
- The Company generated approximately
$3.4 million in revenue for the month ended December 31, 2024, compared to$2.8 million in December 2023, representing a21% year-over-year increase. This growth highlights Digihost’s ability to consistently expand its revenue despite significant challenges, including the temporary shutdown of one of its flagship mining sites for scheduled maintenance and the 2024 halving event, which reduced Bitcoin production rewards by50% . - Between self-mining and hosting agreements, miners at the Company’s facilities produced approximately 35 BTC during the month of December.
- The Company invested approximately
$0.5 million in December in capital expenditures, mining infrastructure support equipment, and deposits, bringing total fiscal year 2024 CAPEX deployment to a total of approximately$5.5 million . This significant investment underscores Digihost’s commitment to long-term growth while maintaining a disciplined approach to capital allocation, prioritizing self-funding to minimize equity dilution for shareholders wherever possible.
Operations Update
Presently, Digihost operates with approximately 100MW of available power across its three sites and has access to an additional 300MW of allocated power for future development. One of the Company’s flagship plants was temporarily taken offline earlier in the quarter for scheduled multi-year maintenance and is expected to resume operations in the first week of January. The full utilization of this power capacity is projected to drive substantial revenue growth beginning in Q1, 2025.
Strategic Clean Energy Collaboration
Digihost continues to advance its commitment to sustainability and innovation in energy solutions. In December 2024, the Company formalized a strategic Memorandum of Understanding (MOU) with NANO Nuclear Energy to integrate advanced nuclear energy technologies at its 60MW New York power facility. Furthermore, Digihost and NANO Nuclear jointly submitted a response to the New York State Energy Research and Development Authority’s (NYSERDA) Request for Information, underscoring their shared vision of promoting advanced, zero-emission energy solutions.
This collaboration represents a pivotal step in transitioning Digihost’s energy infrastructure to cleaner, scalable solutions. By leveraging cutting-edge nuclear microreactors, the Company aims to bolster its power reliability while aligning with New York State's broader energy goals. These efforts reflect Digihost’s unwavering dedication to integrating sustainable practices into its operations and creating long-term value for stakeholders.
About Digihost
Digihost is an innovative energy infrastructure company that develops cutting-edge data centers to drive the expansion of sustainable energy assets.
For further information, please contact:
Digihost Technology Inc.
www.digihostpower.com
Digihost Investor Relations
T: 888-474-9222
Email: IR@digihostpower.com
Cautionary Statement
Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
Except for the statements of historical fact, this news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as at the date of this news release and are covered by safe harbors under Canadian and United States securities laws. Forward-looking information in this news release includes information about potential further improvements to profitability and efficiency across mining operations, including, as a result of the Company’s expansion efforts, potential for the Company’s long-term growth and clean energy strategy, and the business goals and objectives of the Company. Factors that could cause actual results to differ materially from those described in such forward-looking information include, but are not limited to: future capital needs and uncertainty of additional financing; share dilution resulting from equity issuances; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the impact of depreciating Bitcoin prices on working capital; effects on Bitcoin prices as a result of the most recent Bitcoin halving; development of additional facilities and installation of infrastructure to expand operations may not be completed on the timelines anticipated by the Company, or at all; ability to access additional power from the local power grid and realize the potential of the clean energy strategy on terms which are economic or at all; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; further improvements to profitability and efficiency may not be realized; development of additional facilities to expand operations may not be completed on the timelines anticipated by the Company; ability to access additional power from the local power grid; an increase in natural gas prices may negatively affect the profitability of the Company’s power plant; the digital currency market; the Company’s ability to successfully mine digital currency on the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices may have a significant negative impact on the Company’s operations; the volatility of digital currency prices; and other related risks as more fully set out in the Annual Information Form of the Company and other documents disclosed under the Company’s filings at www.sedarplus.ca and www.SEC.gov/EDGAR. The forward-looking information in this news release reflects the current expectations, assumptions and/or beliefs of the Company based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about: the current profitability in mining cryptocurrency (including pricing and volume of current transaction activity); profitable use of the Company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as required; historical prices of digital currencies and the ability of the Company to mine digital currencies on the cloud will be consistent with historical prices; the ability to maintain reliable and economical sources of power to run its cryptocurrency mining assets; the negative impact of regulatory changes in the energy regimes in the jurisdictions in which the Company operates; and there will be no regulation or law that will prevent the Company from operating its business. The Company has also assumed that no significant events occur outside of the Company's normal course of business. Although the Company believes that the assumptions inherent in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and accordingly undue reliance should not be put on such information due to the inherent uncertainties therein. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
FAQ
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