The Company mined another 18. 24 BTC between the fourth quarter of 2022 and the fourth quarter of 2021, representing a year-on-year increase of 11%.
Figure 2. BTC from one quarter to the next
Year-over-year comparison
Annually, the Company mined approximately 311. 64 BTC more in the fiscal year ended December 31, 2022 to the fiscal year ended December 2021, representing a cumulative of approximately 60%.
Figure 1. Annual BTC for the year
Acquisition of the North Tonawanda Generating Station
The Company is finalizing final documentation similar to Digihost’s acquisition of a 60 MW power plant in North Tonawanda, NY (“NT”). In December 2022, the Company obtained approval for the acquisition of the power plant from the Federal Energy Regulatory Commission. The state and federal regulatory approvals required to complete the acquisition transaction have now been gained through the Company. Management expects the acquisition to close in the first quarter of 2023. The power plant will provide the company with computing capacity of approximately 1. 3 PE based on an initial power generation rate for the plant of approximately 50 MW. Upon completion of the power plant acquisition, the Company will promptly utilize all 50 MW of electrical power for its mining infrastructure that has already been installed in the assets adjacent to the power plant without delay. When combined with Digihost’s existing operations in New York State (“NYS”), the company’s overall computing capacity is expected to be approximately 1. 7 PE in the Company’s NYS operations.
Siege of Alabama
Construction of Phase 1 of the Alabama site continued on time and on budget, with an initial mining capacity of one hundred PH/s commissioned in December. Phase 1, whose final touch is scheduled for the first quarter of 2023, with 22 MW of electricity, resulting in a total mining capacity of approximately 550 PH/s. The Alabama site has an overall prospective electrical capacity of 55 MW. Lately, the company is working on the design of Phase 2 for the Alabama site that could supply Digihost with another 33 MW of power.
Digihost’s overall operating capacity, consisting of the company’s existing NYS operations, NT power plant mining capacity, and Alabama site Phase 1 structure, is expected to be approximately 2. 2 PEH through the end of the first quarter of 2023.
Expansion to North Carolina
As announced earlier this year, the company acquired 25 acres of land in North Carolina with a potential force allocation of 200 MW. The company expects to begin North Carolina expansion in the first quarter of 2024.
About Digihost
Digihost is a growth-oriented blockchain generation company primarily in BTC mining. Through its self-mining operations and joint venture agreements, the Company lately generates hashing at a rate of approximately PH715.
All accommodation and profit sharing prices of the joint venture are treated as production prices in the Company’s consolidated monetary statements.
For information, please contact:
Digihost Technology Inc. www. digihost. caMichel Amar, CEO T: 1-818-280-9758 Email: michel@digihost. ca
Trading in the Company’s securities is considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the data contained herein. Neither TSX Venture Exchange nor its Regulation Service Provider (as that term is explained in the policies of the TSX Venture Exchange) accepts the duty of adequacy or accuracy of this release.
Forward-Looking Statements Except for statements of past fact, this news release comprises “forward-looking data” and “forward-looking statements” (collectively, “forward-looking data”) that are based on expectations, estimates, and projections as of the date of this forward-looking statement. press and are covered through safe harbors under the securities laws of Canada and the United States. The forward-looking data in this news release includes data on additional forward-looking innovations in power and earnings capacity at all mining operations, and adds, as a result of the Company’s expansion efforts, the Company’s long-term forward-looking expansion and the company’s business goals and objectives. Factors that may also cause actual effects to differ slightly from those described in such forward-looking data include, but are not limited to: long-term capital needs and the uncertainty of additional financing, adding to the Company’s ability to use the resources of the company. market supply program (the “ATM Program”) and the values at which the Company may sell ATM Program securities, as well as general capital market conditions; stock dilution resulting from the ATM program and other stock issuances; similar risks to the strategy of holding and building bitcoin holdings and the effect of depreciation in bitcoin’s value on working capital; regulatory and other unforeseen issues that prohibit us from notifying or paying dividends payable in Bitcoin to our shareholders; the subsequent effects of the COVID19 pandemic may also have an adverse effect on the Company’s functionality, as supply chains are disrupted and prevent the Company from operating its assets; the progression of additional services to expand operations in Alabama may not be completed within the timelines expected by the Company, if at all; the acquisition of services in North Tonawanda, New York, final in due time or not at all; ability to access additional force from the local force network; a decrease in the value of cryptocurrencies, the volume of operations or, more generally, the ability to profit from cryptocurrency mining; Additional innovations in power and gain capacity are likely not to be made; the virtual currency market; the company’s ability to successfully fully mine virtual currency in the cloud; the Company may not be able to profitably liquidate its existing stock of virtual currencies, or at all; a decline in virtual currency values may also have an adverse effect on the company’s operations; volatility of the value of virtual currency; and other similar hazards as more fully described in the Company’s Annual Information Form and other documents disclosed on file with the Company at www. sedar. com. The forward-looking data contained in this press release reflects the Company’s existing expectations, assumptions and/or ideals based on existing data for the Company. In connection with the forward-looking data contained in this press release, the Company has made assumptions about: the existing earning capacity of cryptocurrency mining (added values and volume of existing business activity); the successful use of the Company’s assets in the long term; the Company’s ability to profitably liquidate its stock of virtual currency as needed; the old values of virtual currencies and the Company’s ability to mine virtual currencies in the cloud will be consistent with the old values; the ability to maintain reliable and affordable power resources to operate your cryptocurrency mining assets; the refusals affect the regulatory adjustments to the regimes in force in the jurisdictions in which the Company operates; the ability to adhere to Digihost’s dividend policy and the timing and amount of dividends based, among other things, on the effects of business operations, cash flow and currency condition, existing capital needs, and provided Digihost Terms and Conditions of Business; and there will be no regulations or legislation that will save the Company from doing business. The Company has also assumed that curtain events do not occur outside of the Company’s general course of business. Although the Company believes that the assumptions inherent in forward-looking data are reasonable, forward-looking data is not a guarantee of long-term functionality and, accordingly, such data should not be relied upon due to the uncertainties inherent therein.
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