Digihost Announces 50% Increase in Cash and Crypto Position Over Previous Month-End and Provides August 2024 Production Update
04 Settembre 2024 - 12:00PM
Digihost Technology Inc. (“
Digihost” or the
“
Company”) (Nasdaq / TSXV: DGHI), an innovative
U.S. based blockchain technology and computer infrastructure
company, is pleased to provide unaudited comparative Bitcoin
(“
BTC”) production results for the month ended
August 31, 2024, combined with an operations update. All monetary
references are expressed in USD unless otherwise indicated.
Monthly Production Highlights for August
2024
- The Company held cash, BTC and cash
deposits of approximately $10.4 million as of August 31, 2024
(based on a BTC price of $58,970 as of August 31, 2024 per
CoinMarketCap), as compared to $6.9 million as of July 31, 2024
(based on a BTC price of $65,100 as of July 31, 2024 per
CoinMarketCap).
- Between self-mining and hosting
agreements, miners at the Company’s facilities produced
approximately 55 BTC during the month of August, representing an
increase of approximately 30% as compared to July 2024.
- As previously disclosed in its news
release of June 11, 2024, Digihost entered into a new agreement
pursuant to which the Company will integrate 11,000
state-of-the-art S21 miners (200/TH) (the “S21
Miners”) into its facilities, translating to approximately
44MW of shared revenues. The deployment of those next-generation,
energy-efficient miners has commenced and will be completed in
phases, and the Company is targeting to be at a total of 3.2 EH/s
by the end of September 2024.
- The Company spent approximately
$0.8 million on capital expenditures, mining infrastructure support
equipment, and deposits. Digihost continues to monitor its capital
expenditures closely, using self-funding to limit equity dilution
for its shareholders when viable.
Financing
In August, the Company closed its previously
announced private placement of its equity securities (the
“Private Placement”). The Private Placement was
for gross proceeds of US$4 million and consisted of the sale of
3,636,363 units of the Company (“Units”) at a
purchase price of US$1.10 per Unit. Each Unit is comprised of one
subordinate voting share of the Company (a
“Share”) and one warrant (a
“Warrant”), with each Warrant entitling the holder
to purchase one additional Share. The Warrants have an exercise
price of US$2.00 per Share and an exercise period of three years
from February 15, 2025.
Operations Update
Presently, Digihost’s consolidated operating
capacity across its three sites represents approximately 90MW of
available power, and Digihost is mining at hashrate of 2.75 EH/s.
The Company is currently exploring opportunities to build its
initial Tier 3 data center with a target completion date of end of
2025.
About Digihost
Digihost is a growth-oriented technology company
focused on the blockchain industry. The Company operates from three
sites in the U.S. and, in addition to managing its own operations,
provides hosting arrangements at its facilities.
For further information, please contact:
Digihost Technology
Inc.www.digihost.caMichel Amar, Chief Executive
Officer T: 1-818-280-9758Email: michel@digihost.ca
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 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; 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.
Grafico Azioni Digihost Technology (NASDAQ:DGHI)
Storico
Da Nov 2024 a Dic 2024
Grafico Azioni Digihost Technology (NASDAQ:DGHI)
Storico
Da Dic 2023 a Dic 2024