Digihost Reports 232% Growth in Bitcoin Holdings Amid Rising Crypto Prices

Author: Benzinga Newsdesk | February 03, 2025 07:51am

Digihost Technology Inc. ("Digihost" or the "Company") (TSXV:DGHI), an innovative energy infrastructure company that develops cutting-edge data centers, is pleased to provide unaudited comparative Bitcoin ("BTC") production results for the month ended January 31, 2025, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.

Monthly Production Highlights for January 2025

• On a year over year basis, the Company's cash, BTC and cash deposits of approximately $12.3 million as of January 31, 2025, as compared to $3.7 million on January 31, 2024 (based on a BTC price of $102,405 as of January 31, 2025 and $42,758 as of January 31, 2024, per CoinMarketCap), represents a 232% increase in its total holdings position balance.
  
   
• The Company held cash, BTC and cash deposits of approximately $12.3 million as of January 31, 2025, as compared to $10.0 million on December 31, 2024 (based on a BTC price of $102,405 as of January 31, 2025 and $93,429 as of December 31, 2024, per CoinMarketCap), representing a 23% increase in its total holdings position balance.
  
   
• Miners at the Company's facilities produced approximately 30 BTC during the month between self-mining and hosting agreements, representing a decrease in 17% versus December 2024. This decrease is due to Digihost's decision to actively participate in load curtailment for approximately seven days due to the high energy costs associated with the weather conditions at the Company's locations in the month of January. By contributing and performing in these load reduction programs, the Company has seen a reduction in its BTC mining costs, in addition to being able to provide crucial grid reliability to surrounding electric consumers.
  
   
• The Company invested approximately $1.2 million in January on capital expenditures, mining infrastructure support equipment, and deposits. This continued significant investment underscores Digihost's commitment to long-term growth while maintaining a disciplined approach to capital allocation, prioritizing self-funding to minimize equity dilution for shareholders when possible, and still retaining a clean balance sheet with zero debt to bolster the Company's flexible capital deployment strategies.

Posted In: DGHI TSXV:DGHI