- Digihost mined an additional 110 BTC during the second quarter
- At the end of June 2021, Digihost held a balance of 351.36 BTC and 563.89 ETH
- Digihost has achieved several significant milestones during the second quarter of 2021, including the launch of the DigiGreen initiative
- Digihost Technology Inc. is a blockchain technology company primarily focused on Bitcoin mining
- Digihost Technology Inc. (DGHI) opened trading at C$1.54 per share
Digihost (DGHI) increased its mined Bitcoin (BTC) holdings during the month of June by 38.22 BTC.
During the first six months of 2021, Digihost mined a total of 215.24 BTC, with 109.98 BTC mined during Q2 2021 and 105.26 BTC mined during Q1 2021.
During the second quarter, the company also received BTC for the sale of older generation miners and used Bitcoin to purchase Ethereum (ETH).
At the end of June 2021, Digihost held a balance of 351.36 BTC and 563.89 ETH.
Digihost has achieved several significant milestones during the second quarter of 2021:
- Filed its Form 40-F with the U.S. Securities and Exchange Commission, fulfilling a significant milestone for a listing on Nasdaq;
- Closed approximately $70 million in total equity financing during the first half of 2021;
- Acquired 9,900 BTC miners from Northern Data AG to increase Digihost’s hashrate by 925PH;
- Formed a strategic collaboration with Bit Digital USA, Inc. to increase Digihost’s combined hashrates by 400PH;
- Achieved industry-leading green energy consumption with over 90% of the energy consumed originating from sources that create zero carbon emissions and more than 50% of the energy consumed generated from renewable sources;
- Announced the launch of the DigiGreen initiative to create sustainable, environmentally and economically sound in-house practices for BTC mining that will distinguish Digihost as an industry leader in maintaining profitability, while lowering or eliminating its carbon footprint;
- Became a signatory to the Crypto Climate Accord, an initiative modelled on the Paris Climate Agreement, which aligns with the company’s own DigiGreen initiative;
- Appointed a new Chief Renewable Energy Officer to oversee the management of the company’s DigiGreen initiative;
- Diversified the company’s business strategy to include ETH as part of its cryptocurrency holdings; and
- Engaged international audit firm Raymond Chabot Grant Thornton LLP, and appointed a new CFO.
Digihost CEO Michel Amar stated,
“We are extremely pleased to report the continued success achieved by Digihost during the second quarter of 2021. Having mined 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 our efficient operations and highly skilled operations team. While there can be no guarantee of future market conditions, we are optimistic that our BTC output rate will increase considerably over the next several months as a result of the recent and significant reduction in mining difficulty rates, combined with the delivery and deployment of our recently acquired BTC miners.
The significant milestones achieved during the second quarter of 2021 are an indication that as a company, we continue to explore every opportunity to expand our BTC mining operations through the acquisition of new miners, vertical integration, improved operational efficiencies, and ensuring that the company is always in a position to attract the financial resources to achieve these goals.”
Digihost Technology Inc. is a blockchain technology company primarily focused on Bitcoin mining.
Digihost Technology Inc. (DGHI) opened trading at C$1.54 per share.
