Digihost reports a 45% year-on-year increase in Bitcoin production and provides up-to-date information on mining operations, Canadian Business Journal

Toronto, March 8, 2022 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“”Digihost” or “society”) (Nasdaq: DGHI; TSXV: DGHI) is an innovative US-based Bitcoin self-mining company and is pleased to offer unaudited Bitcoin (“).BTC”) Production results for the month ended February 28, 2022. All amounts are in US dollars unless otherwise stated.

Monthly comparison of year-on-year

The company mined about 50.85 BTC in February 2022, an increase of 15.83 BTC, or 45%, compared to February 2021. Using February 28, 2022 and February 28, 2021, the company’s BTC value using the closing price of BTC (from CoinDesk) February 2022 compared to February 2021 That’s $ 615,631, an increase of 39%.

Figure 1. Monthly BTC production year-on-year

February 21 February 22 Year-on-year increase
Mined BTC 35.02 50.85 15.83
Approximate BTC value $ 45,138 $ 43,193 ($ 1,945)
worth $ 1,580,733 $ 2,196,364 $ 615,631

February 2022 Production Highlights:

  • During the month, it mined 50.85 BTC and contributed to a total holding of 737.66 BTC of approximately $ 31.87 million as of February 28, 2022, based on a BTC price of $ 43,200.
  • Total Ethereum (“”ETH”) Holding of 1,000.89 ETH worth about $ 2.9 million as of February 28, 2022, based on an ETH price of $ 2,900.
  • As of February 28, 2022, the total inventory of digital assets consisting of BTC and ETH is approximately $ 34.77 million.
  • The company deployed miners in the week of February 28, 2022, expanding its computing power by 20% to about 500 PH.

Michel Amar, CEO of the company, commented: .. We anticipate further expansion of computing power in the coming months as all Bitcoin miners received so far and Bitcoin miners in transit will be deployed. We are very pleased to see a 45% increase in the number of Bitcoins mined in February compared to the same month in 2021 as Digihost continues to expand its business while being almost completely carbon neutral. .. “

Minor receipts and deployment updates

As of February 28, 2022, we have a technically advanced and high performance M30 Bitcoin Miner (“MinerFrom the 2021 9,900 miner order, the remaining 900 miners are now being transferred to the Digihost data center. Digihost will continue to deploy the miners it has received so far.

Digihost Technology Inc.about

Digihost is a growth-oriented blockchain technology company focused primarily on Bitcoin mining. Through a joint venture with the self-mining business, we are currently hashing at a rate of approximately 500 PH.

For more information, please contact:

Digihost Technology Inc.
Michelle Amar, Chief Executive Officer

Trading our securities should be considered highly speculative. The Stock Exchange, Securities and Exchange Surveillance Commission, or other regulatory agencies have not endorsed or dismissed the information contained herein. Neither the TSX Venture Exchange nor its regulatory service provider (the term is defined in the TSX Venture Exchange Policy) is responsible for the validity or accuracy of this news release.

Description of future prospects
This news release contains “forward-looking information” and “forward-looking statements” based on expectations, estimates, and forecasts as of this date, except for statements of past facts (collectively, “future”. Information about the outlook “) is included. It is a news release and is subject to safe harbors under US and Canadian securities laws. Information on the future outlook for this news release includes hash rate and infrastructure expansion, business diversification, potential for further improvement in profitability and efficiency of the entire mining business, potential for our long-term growth, And contains information about our business goals and objectives. Factors that may cause actual results, performance, or outcomes to differ materially from those described in such forward-looking information include, but are not limited to: The continued impact of the COVID19 pandemic is that the supply chain interferes with and prevents the company from managing its assets. Ability to establish new facilities for cryptocurrency mining purposes; Receiving public service committee approval or other regulation or board approval. Ability to establish new facilities for research and development purposes. Cryptocurrency pricing, amount of transaction activity, or generally reduced profitability of cryptocurrency mining. Delivery of mining rigs for self-mining and hosting may not be achieved in the expected number, at all, or on the expected schedule, and the resulting hash power may be significantly different than expected. Further improvements in profitability and efficiency may not be realized. Digital currency market. The ability of a company to successfully mine digital currencies on the cloud. We may not be able to liquidate our current digital currency inventory in our favor. Falling digital currency prices can have a significant negative impact on our business. Cryptocurrency price volatility. And other related risks are described in detail in our annual information form and other documents disclosed in our filings ( The information regarding the future outlook for this news release reflects our current expectations, assumptions, and / or beliefs based on the information currently available to us. In connection with the forward-looking information contained in this news release, we make the following assumptions: Current profitability in cryptocurrency mining, including pricing and current trading activity volume. Beneficial use of our assets in the future. The company’s ability to liquidate digital currency inventories in an advantageous manner as needed. Past prices of digital currencies and our ability to mine digital currencies in the cloud match past prices. In addition, there are no regulations or laws that impede our business operations. We also assume that no significant event will occur outside of our normal operations. We believe that the assumptions inherent in forward-looking information are reasonable, but forward-looking information does not guarantee future performance and therefore the uncertainties inherent in such information. You should not put excessive trust on your sexuality. We are obliged to update or revise future outlook information as a result of new information, changes in circumstances, future events, or other reasons, except as expressly required by applicable securities law. Shall not bear.

CBJ News Maker

Digihost reports a 45% year-on-year increase in Bitcoin production and provides up-to-date information on mining operations, Canadian Business Journal

Source link Digihost reports a 45% year-on-year increase in Bitcoin production and provides up-to-date information on mining operations, Canadian Business Journal

Related Articles

Back to top button