Digihost announces 215 Bitcoins mined in the first half of 2021
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TORONTO, July 6, 2021 (GLOBE NEWSWIRE) – Digihost Technology Inc. (“Digihost“or the”Company“) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce that the Company has increased its mined Bitcoin (“BTC”) During the month of June 2021 by 38.22 BTC, bringing the Company’s total BTC balance to 351.36. In the first six months of 2021, Digihost mined a total of 215.24 BTC, with 109.98 BTC mined in the second quarter of 2021 and 105.26 BTC mined in the first quarter of 2021.
During the second quarter, the Company also received BTC in consideration for the sale of older generation miners and used BTC to purchase Ethereum (“ETH“). At the end of June 2021, the Company held a balance of 351.36 BTC and 563.89 ETH.
Digihost is also pleased to announce that the company has continued to build on the momentum of Q1 2021 and has taken many other important milestones in Q2 2021 in its evolution as a premier blockchain technology company. plan, including:
- filed its Form 40-F with the United States Securities and Exchange Commission, reaching a milestone for a Nasdaq listing;
- closed approximately $ 70 million in equity financing in the first half of 2021;
- acquired 9,900 BTC miners from Northern Data AG to increase Digihost hashrate of 925PH;
- formed a strategic collaboration with Bit Digital USA, Inc. to increase the company’s combined hashrates of 400PH;
- announced peak green energy consumption with over 90% of the energy consumed by the Company from sources that create no carbon emissions and over 50% of the energy consumed by the Company generated from renewable sources;
- announced the launch of the DigiGreen initiative to create sustainable, environmentally and economically sound internal practices for BTC mining that will distinguish the Company as an industry leader in maintaining profitability, while reducing or reducing eliminating its carbon footprint;
- became a signatory to the Crypto Climate Accord, an initiative modeled on the Paris Climate Agreement, which aligns with the company’s DigiGreen initiative;
- appointed a new director of renewable energy to oversee the management of the company’s DigiGreen initiative;
- diversified the Company’s business strategy to include ETH in its cryptocurrency holdings; and
- hired the international audit firm Raymond Chabot Grant Thornton LLP and appointed a new CFO.
Michel Amar, CEO of the company, said: “We are extremely happy to report the continued success achieved by Digihost during the second quarter of 2021. After extracting an additional 110 BTC during the second quarter, we have increased the balance of BTC and ETH held. by the company to a total of 351.36 BTC and 563.89 ETH at the end of June, which is a testament to the efficiency of our operations and our highly skilled operational team. While there can be no guarantee of future market conditions, we are optimistic that our BTC production rate will increase significantly over the next few months due to the recent and significant reduction in mining difficulty rates, combined with the delivery and deployment of our recently acquired BTC miners. The milestones achieved in the second quarter of 2021 indicate that as a company we continue to explore all opportunities to expand our BTC mining operations through the acquisition of new miners, vertical integration, to improving operational efficiency and ensuring that the Company is always able to attract the financial resources to achieve these objectives.
About Digihost Technology Inc.
Digihost Technology Inc. is a growth driven blockchain technology company primarily focused on Bitcoin mining. The Company’s mining facilities are located in upstate New York and are equipped with 78.7 MW of low cost electricity with the ability to expand to 102 MW. The company is currently axing at a rate of 205 with the potential to expand at a rate of 3EH upon completion of the previously announced acquisition of a 60 MW power plant.
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CautionTrading in the securities of the Company should be regarded as highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of the information contained in this document. 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 statementsExcept for statements of historical fact, this press release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) which are based on expectations, estimates and projections as of the date. of this press release. Forward-looking information in this press release includes information about the Nasdaq listing, the effectiveness of the Company’s Form 40-F, hashrate expansion, diversification of operations, potential further improvements in profitability and efficiency in mining operations, the Company’s long-term potential for growth and the Company’s business goals and objectives. Factors that could cause actual results, performance or achievements to differ materially from those described in this forward-looking information include, but are not limited to: risks associated with the Nasdaq listing process; effectiveness of the Company’s Form 40-F, the continued effects of the COVID19 pandemic may have a material adverse effect on the Company’s performance, as supply chains are disrupted and prevent the Company from operating its assets; a decrease in the price of cryptocurrencies, the volume of transaction activity or, in general, the profitability of mining cryptocurrencies; other improvements in profitability and efficiency may not be achieved; the digital currency market; the Company’s ability to successfully mine digital currency in the cloud; the Company may not be able to profitably liquidate its current inventory of digital currencies, if at all; a fall in the prices of digital currencies may have a material negative impact on the operations of the Company; the price volatility of digital currencies; and other related risks as further described in the Company’s Annual Information Form and in other documents disclosed in documents filed by the Company at www.sedar.com. The forward-looking information contained in this press release reflects the Company’s current expectations, assumptions and / or beliefs based on information currently available to the Company. As part of the forward-looking information contained in this press release, the Company has made assumptions about: the current profitability of cryptocurrency mining (including prices and volume of ongoing transactions); the profitable use of the Company’s assets in the future; the Company’s ability to profitably liquidate its inventory of digital currencies as needed; historical digital currency prices and the Company’s ability to mine digital currencies in the cloud will be consistent with historical prices; and there will be no regulations or laws that will prevent the Company from carrying on its business. The Company also assumed that no material event occurred outside the normal course of the Company’s business. Although the Company believes that the assumptions inherent in forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, therefore, one should not place undue reliance on such information due to the uncertainty inherent in such information. -this.
Source: Digihost Technology Inc.