Financial Performance - Revenue for the three-month period ended June 30, 2024, was $9.23 million, a 57% increase from $5.87 million in the same period of 2023, driven by rising Bitcoin prices and diversification of revenue streams [2] - Revenue from the sale of energy increased by approximately 123% compared to Q2 2023 [2] - Total assets amounted to $41.16 million, with property, plant, and equipment valued at $28.77 million, primarily consisting of Bitcoin miners and mining support infrastructure [2] - Digital currencies held by the company reached $2.60 million, reflecting a 68% increase over Q2 2023 [2] - The company incurred approximately $1.7 million in capital expenditures during the quarter, maintaining a focus on self-funding [2] Operational Update - The company’s consolidated operating capacity across three sites is approximately 90MW, with a mining hashrate of 2.75 EH/s [8] - The strategic growth plan includes diversifying mining operations and accessing clean energy sources, with plans to expand operations in New York and Alabama [9] Outlook - The company aims to increase its hashing power by approximately 4 EH by building infrastructure and accessing power in new locations by the end of 2024 [9] Shareholder Information - During the six-month period ended June 30, 2024, 3,955,993 warrants with an exercise price of $7.77 CAD expired without causing dilution to the company [7]
Digihost Announces 57% Increase in Quarterly-YOY Revenue for Q2 2024 and $8M EBITDA* for YTD 2024