a 218% Increase in Quarterly Bitcoin Production TORONTO, Oct. 04, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF), an innovative North American based Bitcoin self-mining company, is pleased to provide unaudited Bitcoin (“BTC”) production updates for the quarter ended September 2021. All amounts are expressed in USD unless otherwise indicated.
Corporate Highlights for September 30, 2021:
- Produced 133.02 BTC during the quarter, increasing total holdings to 452.24 BTC representing a fair market value of approximately $19.9 million as at September 30, 2021.
- Diversified holdings with the conversion of 31.62 BTC into Ethereum (“ETH”) during the quarter, bringing total ETH holdings to 1,000.89 representing a fair market value of approximately $3.0 million as at September 30, 2021.
- Total digital asset inventory value consisting of BTC and ETH of approximately $22.9 million at the end of September.
- Cash on hand at September 30th was approximately $17.2 million, and total cash and digital asset holdings was approximately $40.1 million.
- Year-to-date deposits on equipment and infrastructure to be completed in Q4 2021 pertaining to the Company’s core business of approximately $24.8 million.
- Pursuant to its May 12, 2021 press release, the Company is on target to put online the approximately 9,900 newest generation miners it has purchased before the end of 2021. Once fully installed, these miners will increase the Company’s current hashrate to between approximately 925PH and 1.1EH.
Bitcoin Mining Update
For the nine-month period ended September 30, 2021, the Company’s mining fleet produced 348.25 BTC, with production broken down as follows:
- Quarter 1, 2021: 105.26 BTC
- January: 33.70
- February: 35.02
- March: 36.54
- Quarter 2, 2021: 109.97 BTC
- April: 37.52
- May: 34.26
- June: 38.19
- Quarter 3, 2021: 133.02 BTC
- July: 51.28
- August: 44.07
- September: 37.67
Quarter-Over-Quarter Comparison
The Company mined approximately 23.05 more BTC in Q3 2021 than in Q2 2021, representing an increase of 21%. Based on the BTC prices in these respective quarters and the increase in production of BTC mined, the fair market value of the Company’s BTC mined on a quarter over quarter basis increased by approximately $2m.
https://www.globenewswire.com/news-release/2021/10/04/2307743/0/en/Digihost-Provides-Mining-Operation-Results-for-Q3-2021-and-Announces-a-218-Increase-in-Quarterly-Bitcoin-Production-Over-the-Previous-Years-Quarter.html