Digihost Technology Inc. Subordinate Voting Shares - DGHI STOCK NEWS

Digihost Technology Inc. (Nasdaq: DGHI; TSXV: DGHI) announced the completion of its acquisition of property in Alabama for $1.5 million, with an additional $1.25 million payable in installments. This acquisition enables Digihost to expand its operational capacity significantly, targeting a hashing capacity of 28 MW by Q3 2022 and 55 MW by Q1 2023. The transition will leverage existing infrastructure and renewable energy sources, aiming to reduce operational costs. This strategic move positions Digihost as a leading player in the Bitcoin mining sector with jurisdictional diversification.

Digihost Technology has announced an agreement to acquire property in Alabama for $2.75 million to expand its Bitcoin mining operations. The deal involves an initial payment of $1.5 million due by June 17, 2022, with the remainder paid in 25 monthly installments. The site offers 160,000 square feet of space and access to 55 MW of power. Additionally, the company has reported repaying a $10 million revolving credit facility, resulting in no long-term debt. Digihost's cash and digital inventory totals approximately $16.6 million.

Digihost Technology has announced a long-term agreement to purchase community solar credits from a 5MW solar farm managed by EnergyMark. This initiative will allow Digihost to further reduce its carbon footprint and leverage clean energy in its Bitcoin mining operations. The solar project is expected to generate approximately 9.5 million kWh annually, powering over 1,000 homes. Additionally, the company has increased its hashing capacity from 450 PH/s to 650 PH/s. However, they await approval for their power plant acquisition amidst new legislation in New York affecting cryptocurrency mining.

Digihost Technology Inc. (Nasdaq: DGHI) reported May 2022 Bitcoin production results, mining 70.47 BTC, totaling 637.66 BTC valued at approximately $20.37 million. Ethereum holdings reached 1,000.89 ETH, valued at about $2 million, bringing total digital asset value to $22.37 million. Year-over-year, BTC production increased by 106% in May and 150% for Q2 2022. The company repaid $4 million of its $10 million credit facility and initiated a normal course issuer bid to buy back shares. Liquid assets as of May were $5 million in cash and $2.8 million from cryptocurrency investments.

Digihost Technology is set to present at the H.C. Wainwright Global Investment Conference from May 23-26, 2022, at Fontainebleau Miami Beach. CEO Michel Amar will engage in one-on-one investor meetings. Digihost, focused on Bitcoin mining, currently operates at a hashing rate of approximately 450 PH/s. The company emphasizes its growth through self-mining and strategic joint ventures, despite acknowledging potential risks outlined in their forward-looking statements.

Digihost Technology Inc. (Nasdaq: DGHI) has received approval for a normal course issuer bid to repurchase up to 1,219,762 subordinate voting shares, approximately 5% of its outstanding shares. The company aims to enhance shareholder value as it believes its shares may not reflect the underlying business value. Recently, Digihost reduced its debt by USD 2M and plans to be debt-free within 12 months. The buyback program will commence on May 25, 2022, and may be terminated early if the maximum shares are repurchased.

Digihost Technology Inc. (Nasdaq: DGHI) reported its Q1 2022 financial results, showcasing a 77% increase in Bitcoins mined compared to the previous year. Revenue from mining reached $7.3 million, a 53% year-over-year increase. The company maintains $31 million in cash, with operating income of $513,000 and EBITDA of $2.0 million, reflecting a 53% growth. Despite a net income decline to $59,000, Digihost expects to increase BTC mining in Q2. The company’s total assets grew by 22% to $97.4 million.

Digihost Technology, a U.S.-based Bitcoin mining company, announced its title partnership at the Aspen Ideas: Climate Conference held from May 9-12, 2022, in Miami, Florida. The conference, organized by the Aspen Institute, focuses on addressing climate change and features prominent leaders and policymakers. Digihost emphasizes its commitment to clean energy and reducing its carbon footprint, aligning with the conference's goals. CEO Michel Amar expressed optimism about collaborating on innovative steps for green energy sourcing and environmental impact.

Digihost Technology (Nasdaq: DGHI; TSXV: DGHI) announced its Bitcoin production results for April 2022, reporting the mining of 109.03 BTC, raising total holdings to 797.28 BTC valued at approximately $30.1 million. This reflects a 44% month-over-month increase and a 191% year-over-year increase in BTC mined. The company aims to minimize shareholder dilution and funded energy costs by selling part of its BTC production. The company is also progressing in its infrastructure expansion efforts and recently acquired land in North Carolina for future operational capacity.