Friday, May 30, 2025

Latest

Digihost Acquires Property For New 55 MW Bitcoin Mining Facility Despite Bear Market

Digihost Technology (TSXV: DGHI) is focused on expanding its bitcoin mining operation, despite the total carnage we’ve seen in the sector in recent weeks. The firm this morning announced that it will be adding a 55 MW site to its operation.

The company has agreed to purchase property in Alabama via an arrangement with Grede II LLC. The firm is set to acquire property for US$2.75 million, upon which it will build a new 55 MW mining facility. Payment is to consist of $1.5 million in cash due by June 17, with the remainder to be paid in 25 equal payments of $50,000.

The property currently features a 160,000 square foot building comprised of office and industrial warehouse space. Current power capacity is said to be an initial 28 MW, which is expandable to 55 MW. Power is said to be sourced via Alabama Power, whom is reportedly providing a low-cost electrical supply.

No miner purchase commitments have been made for the facility, with purchases to be made on an “opportunistic basis.”

Also announced this morning is that the firm has paid off $10.0 million in long term debt, with $7.9 million now remaining on the balance sheet in addition to $8.7 million in bitcoin and ethereum.

Digihost Technology last traded at $1.66 on the TSX Venture.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply

Video Articles

How To Profit From $3300 Gold? An Inside Look At A Massive 300,000 Oz Project | Martino De Ciccio

We’re At The Start of a Great Silver Boom | Ross McElroy & Andy Bowering – Apollo Silver Corp

Equinox Gold Q1 Earnings: When Everything Goes Wrong

Recommended

ESGold Begins Concentration Tests Ahead Of First Production

Sterling Metals Hits 0.21% Copper Over 482.8 Metres In First Drilling At Soo Copper project

Related News

Digihost Reports Q1 Revenues Of $4.8 Million, Net Income Of $5.9 Million

Digihost Technology Inc. (TSXV: DGHI) today reported its financial results for Q1 2021. The company...

Wednesday, May 19, 2021, 09:47:00 AM

Digihost Announces At The Market Offering Nearly 3 Times The Size Of Current Valuation

Digihost Technology (TSXV: DGHI) is apparently looking to completely blow out its share structure. The...

Friday, March 4, 2022, 09:01:42 AM

A Bitcoin Dividend? Digihost Aims To Be First Miner To Pay Out Crypto To Shareholders

Evidently bitcoin dividends are becoming a thing. Digihost Technology (TSXV: DGHI) this morning revealed it...

Monday, April 4, 2022, 09:16:59 AM

By The Numbers: Bitcoin Miners Are Burning Cash On Each Coin Mined

The trouble with bitcoin, is that it doesn’t make economical sense to mine it. With...

Wednesday, November 23, 2022, 03:44:47 PM

Digihost Replaces CFO Two Weeks After Replacing Auditor

Digihost Technology (TSXV: DGHI) this morning announced the replacement of its chief financial officer. Effective...

Thursday, April 29, 2021, 08:20:52 AM