Digihost To Conduct $25.0 Million Financing

There appears to be a very strong demand for digital currency miners among institutions. Last night, Digihost Technology (TSXV: DGHI) became the latest firm to announce a private placement, with the majority to be taken by undisclosed institutional investors.

The financing will see the company raise gross proceeds of $25.0 million, through the sale of units at a price of $2.67 per share. Each unit contains one common share and one common share purchase warrant, with each warrant valid for a period of three years at an exercise price of $3.14 per share.

Proceeds from the offering are to be used to acquire additional bitcoin miners, for the expansion of infrastructure, the reduction of energy costs, as well as working capital purposes.

The financing is currently slated to close March 16, 2021.

Digihost Technologies last traded at $3.14 on the TSX Venture.

Information for this briefing was found via Sedar and Digihost Technology. 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.

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