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Digihost Technology Inc. (OTCQB: HSSHF) reported a strong performance in June 2021, increasing its Bitcoin holdings by 38.22 BTC, totaling 351.36 BTC. In the first half of 2021, the company mined 215.24 BTC and raised approximately $70 million through equity financings. Significant milestones include filing a Form 40-F for a Nasdaq listing, acquiring 9,900 BTC miners, and promoting sustainable practices with over 90% energy from zero carbon sources. CEO Michel Amar expressed optimism for increased BTC output, aided by reduced mining difficulty and new equipment deployment.
Digihost Technology Inc. (OTCQB: HSSHF) has announced its commitment as a signatory to the Crypto Climate Accord, aligning with its DigiGreen Initiative to achieve net-zero emissions by 2030. This initiative aims to promote the use of 100% renewable energy in blockchain operations. Currently, Digihost’s mining facilities in Upstate New York operate at a capacity of 78.7 MW, with potential growth up to 102 MW. The company is hashing at a rate of 205PH and aims to expand to 3EH with a planned acquisition of a 60MW power plant.
On June 22, 2021, Digihost Technology filed a Form 40-F registration with the SEC, marking a key step toward listing its shares on the Nasdaq. However, Nasdaq's approval and regulatory requirements must be met, and there are no guarantees for a successful listing. The company also granted 780,000 stock options to key personnel, exercisable at $1.40 for five years. Digihost primarily focuses on Bitcoin mining, operating in New York with 78.7 MW of low-cost power and future plans to expand its hashing capacity.
Digihost Technology Inc. has appointed Mr. Luke Marchiori as the new Chief Renewable Energy Officer, effective June 15, 2021. He will oversee the DigiGreen initiative aimed at replacing traditional energy sources with sustainable alternatives. Marchiori also serves as EVP at EnergyMark, LLC, and has extensive experience in renewable energy. The company reports that over 90% of its Bitcoin mining energy is from zero carbon sources, with over 50% from renewables. This leadership change is expected to strengthen Digihost's commitment to sustainability in cryptocurrency mining.
Digihost Technology has announced a strategic co-mining agreement with Bit Digital USA for a 20 MW Bitcoin mining system. This partnership aims to enhance the hashrate by approximately 400 PH. Under the agreement, Digihost will provide power and management services to ensure 95% uptime for the miners, set for delivery in Q4 2021. The collaboration signifies an expansion in North America's mining sector, aligning with both companies' growth strategies in blockchain technology and sustainable energy sources.
Digihost Technology has announced the launch of its DigiGreen Initiative, aimed at further reducing its carbon footprint in cryptocurrency mining. The initiative will focus on four key areas: establishing a Chief Renewable Energy Officer, sourcing low-carbon energy, developing in-house carbon measurement standards, and exploring new ways to minimize the carbon footprint. Currently, over 90% of Digihost's energy comes from zero-emission sources, and more than 50% is renewable. The CEO emphasized the plan's goal of enhancing transparency and fostering environmental responsibility.
Digihost Technology Inc. (HSSHF) reported exceptional financial results for Q1 2021, achieving a total comprehensive income of $5.91 million, marking an 872% increase from a comprehensive loss of $0.76 million in Q1 2020. Revenue from digital currency mining soared by 469% to $4.8 million, with a gross profit margin of 44%. The company’s cash balance rose to $13.19 million and total assets increased to $43.54 million. Digihost also emphasized its commitment to sustainability, utilizing 90% zero-carbon energy in its operations.
Digihost Technology Inc. (OTCQB: HSSHF) reports that over 90% of its energy for Bitcoin mining comes from carbon-neutral sources, with over 50% from renewables. Key energy sources include Hydro (42.68%) and Nuclear (41.19%). The company aims to reduce its carbon footprint through the acquisition of a 60MW power plant and plans to utilize renewable natural gas. Additionally, Digihost granted 1,290,000 stock options at $2.45, vesting in six months. CEO Michel Amar emphasizes the company's commitment to environmentally conscious operations, targeting growth through clean energy integrations.
Digihost Technology Inc. (HSSHF) has announced its acquisition of 9,900 Bitcoin miners, increasing its hashrate from 200PH to approximately 1.145EH. Funded by CA$54 million from equity financings, the acquisition involves a hosting agreement with Northern Data AG for a term of three years. The miners are expected to be operational by January 2022. Digihost forecasts an operating profit of US$80 million in 2022, contingent on Bitcoin pricing and mining difficulty rates. However, profitability is uncertain due to market volatility and operational costs.
Digihost Technology has signed a definitive purchase agreement to acquire 10,000 high-performance Bitcoin miners, enhancing its hashrate from 200PH to approximately 1.145EH. The miners, sourced from Northern Data, will be delivered between August and December 2021. Digihost also entered a hosting agreement for installation and maintenance of the miners. The company aims to generate about US$80 million in operating profit in 2022 based on current Bitcoin prices. This strategic move positions Digihost for significant growth in the cryptocurrency mining market.
