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Digihost Technology Inc. (HSSHF) is advancing its application for a listing on the NASDAQ, following its upgrade from OTC Pink Sheets to OTCQB in early February 2021. The company focuses on Bitcoin mining and aims to enhance its operations by integrating Ethereum technology, thus diversifying its portfolio. Digihost plans to expand its hashrate to over 1EH by the end of 2021. CEO Michel Amar states that the NASDAQ listing will attract institutional investors and provide greater access to capital for growth strategies. The company currently holds 563.88 ETH and is preparing to file a registration statement with the SEC.
Digihost Technology Inc. (HSSHF) announced a 37.50 BTC increase in its holdings for April 2021, totaling 309 BTC, valued at approximately US$16,995,000 based on a BTC price of US$55,000. The company mined 142.76 BTC in the first four months of 2021, with a hashrate of 200PH and a cost of US$12,000 per BTC in April. CEO Michel Amar highlighted operational efficiencies and plans to deploy additional miners, aiming to expand mining operations and shareholder value. Digihost operates in Upstate New York with low-cost power options and potential growth in hashing capabilities.
Digihost Technology reported its fiscal 2020 results, highlighting a digital currency mining revenue of $3.55 million and a total comprehensive loss of $3.09 million. The company faced challenges, including temporary shutdowns due to COVID-19 and the effects of the May 2020 Bitcoin halving. However, it achieved significant milestones in 2021, including raising approximately CA$54 million in equity, increasing its potential hashrate capacity to 3EH, and acquiring additional Bitcoin miners. As of April 2021, the company holds 309 Bitcoins, valued at approximately $17.6 million.
Digihost Technology Inc. (HSSHF) has appointed Paul Ciullo as the new Chief Financial Officer, effective April 29, 2021. Mr. Ciullo, a CPA with significant experience in corporate finance and accounting from Fortune 500 companies, will lead the company's financial strategies. He replaces Cindy Davis, who has contributed significantly to the company over the past two years. Digihost, focused on Bitcoin mining, operates in New York and possesses 78.7 MW of low-cost power, with plans to expand to 102 MW, and aims for a hashing rate increase from 190 PH to 3 EH with new acquisitions.
Digihost Technology Inc. (TSXV: DGHI; OTCQB: HSSHF) will present at the virtual H.C. Wainwright Cryptocurrency, Blockchain & FinTech Conference on April 27, 2021. CEO Michel Amar will discuss the Company's efficient Bitcoin mining operations and strategic growth plans. Digihost's facilities in Upstate New York utilize 78.7 MW of low-cost power, with a hashing rate of 190PH, poised to expand to 3EH after acquiring a 60MW power plant. Interested investors can register for one-on-one meetings during the conference.
Digihost Technology Inc. (HSSHF) announced a change of auditor from Clearhouse LLP to Raymond Chabot Grant Thornton LLP, effective April 12, 2021. This change aims to enhance transparency and integrity in financial reporting, as stated by CEO Michel Amar. The company, focused on Bitcoin mining, operates in Upstate New York with existing capabilities of 190PH and potential expansion to 3EH. There were no reservations or modified opinions in the Former Auditor's reports, indicating a clean audit transition.
Digihost Technology Inc. (HSSHF) reported a significant increase in its mined Bitcoin holdings, adding 36.54 BTC in March 2021, bringing the total to 256.26 BTC. With Bitcoin valued at approximately US$59,000, the total BTC value stands at about US$15.1 million. During Q1 2021, the company mined 105.26 BTC, achieving a hashrate of 190PH at a cost of US$15,000 per BTC. Key milestones include closing $29 million in equity financing, upgrading its U.S. listing to OTCQB, and enhancing hashrate capacity to 3EH through a new power plant acquisition.
Digihost Technology (HSSHF) has announced the acquisition of 700 Bitmain S17+ miners for US$4.025 million, increasing its hashrate by 50PH, or approximately 20% in Q2 2021. The new miners will boost monthly BTC production by 9 BTC, equating to an additional US$400,000 in operating profit. This purchase consists of US$2.975 million cash and 533,781 common shares valued at US$1,050,000. The miners will be deployed at the Company’s Upstate New York facility, which currently utilizes low-cost power and is positioned for further expansion.
Digihost Technology Inc. (OTCQB: HSSHF) has signed an agreement to acquire a 60 MW power plant, labeled Digifactory1, in New York, increasing its power capacity to approximately 102 MW. This acquisition is expected to significantly decrease electricity costs to under US$0.03 per kWh, crucial for its Bitcoin mining operations.
With the new plant, Digihost can potentially add 18,000 top-tier Bitcoin miners, raising its mining capacity to around 400 Bitcoins per month. The total consideration for the acquisition is US$4.25 million, made up of cash and shares. The deal is subject to regulatory approval.
Digihost Technology Inc. (HSSHF) announced it is not proceeding with a previously proposed non-brokered private placement due to recent trading volatility. The decision, made on March 8, 2021, may lead to a revised placement in the future. CEO Michel Amar highlighted the company's focus on improving its Bitcoin mining operations, reporting a hashrate increase to approximately 189 Petahash. Digihost currently mines about 1.2 Bitcoins per day and aims to enhance its operational efficiency amidst potential market challenges.
