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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 (DGHI) announced record revenue of $12.9 million for Q1 2024, a 216% increase from Q1 2023. The company reported an EBITDA of $8.9 million, up 255%, and net income of $4.84 million, compared to a net loss of $9.09 million in Q1 2023. Revenue was driven by diversified verticals including digital currency mining, colocation services, and energy sales. The company's total assets reached $41.24 million, with digital currencies valued at $2.9 million, up 254%. The company also reported a positive working capital balance and aims to expand its operations in New York and Alabama, targeting low-cost renewable energy sources. The unaudited financial statements are available on SEDAR+ and EDGAR.
Digihost Technology Inc. will announce its Q1 2024 financial results on May 14, 2024. The company is a U.S. based blockchain technology and computer infrastructure company with a consolidated operating capacity of 90MW and a mining hashrate of 2 EH/s.
Digihost Technology Inc. reports a month-over-month increase in cash and crypto positions in April 2024, despite challenges faced post-halving. The company diversified revenue streams and partnered on hosting agreements to enhance computing power sustainably.
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