Digihost (DGHI) has released unaudited results for Q3 2021 including a 218 per cent increase in Bitcoin production.
End-of-quarter highlights
- Produced 133.02 BTC, increasing total holdings to 452.24 BTC or US$19.9 million as of September 30, 2021
- Diversified holdings by converting 31.62 BTC into Ethereum, bringing total ETH holdings to 1,000.89 or $3 million
- Cash on hand was approximately $17.2 million
- On schedule to install 9,900 newest generation miners, which will increase its total hashrate to between 925 PH and 1.1 EH
Bitcoin mining production breakdown
- January: 33.70
- February: 35.02
- March: 36.54
- April: 37.52
- May: 34.26
- June: 38.19
- July: 51.28
- August: 44.07
- September: 37.67
Quarter-over-quarter comparison
Year-over-year quarterly comparison
Michel Amar, Digihost's CEO, stated,
"We are extremely pleased with the continued success achieved by Digihost and are proud to report that in Q3 2021 we successfully mined a higher fair market value of Bitcoin than in any previous quarter since the company’s inception.
Our operations delivered a record number of coins this quarter despite voluntarily giving up peak hours of mining for five days during the month of August during peak community energy demand.
As a company, we are prepared to begin receiving a large quantity of new-generation miners in Q4 2021. We remain especially well-situated to scale up and thrive in the current mining environment and to increase our hashrate to up to 1.5 EH by Q1 2022. We are committed to operating our business growth in an environmentally conscious way and our priority is to sustain our focus on green energy and ESG initiatives."
Digihost Technology is a blockchain technology company primarily focused on Bitcoin mining.
Digihost (DGHI) is unchanged trading at $2.02 per share as of 1:47 pm ET.