Digihost Regains Compliance With Nasdaq Minimum Bid Price Requirement and Provides Production Update
02 Febrero 2023 - 5:00AM
Digihost Technology Inc. (“
Digihost” or the
“
Company”) (TSXV: DGHI; Nasdaq: DGHI) is pleased
to announce that it has received formal notice from The Nasdaq
Stock Market LLC (“
Nasdaq”) stating that the
Company has regained compliance with the minimum bid price
requirement in Nasdaq Listing Rule 5550(a)(2) for continued listing
on Nasdaq.
The notice the Company received from Nasdaq on
February 1, 2023 noted that the Company evidenced a closing bid
price of its common subordinate voting shares on Nasdaq at or
greater than the US$1.00 per share minimum requirement for the last
10 consecutive business days.
Digihost is also pleased to report that it mined
approximately 65 Bitcoin (“BTC”) during the month
ended January 31, 2023, exceeding the prior month’s monthly
production by approximately 14%.
Figure 1. Month-over-month Monthly BTC
Production
|
|
|
|
|
Jan-23 |
Dec-22 |
MoM Increase |
Mined BTC |
64.63 |
56.96 |
7.67 |
Approximate BTC value |
$23,1391 |
$16,5472 |
$6,592 |
Production Value |
$1,495,474 |
$942,517 |
$552,957 |
|
|
|
|
(1) BTC
price as at January 31, 2023. |
(2) BTC
price as at December 31, 2022. |
About Digihost Technology
Inc.
Digihost is a growth-oriented blockchain
technology company primarily focused on the production of BTC.
Through its digital asset infrastructure which also includes
hosting joint venture agreements, the Company is currently hashing
at a rate of approximately 715 PH/s.
For further information, please contact:
Digihost Technology Inc.
www.digihost.ca Michel Amar, Chief Executive
Officer Email: michel@digihostblockchain.com
Cautionary Statement Trading in
the securities of the Company should be considered highly
speculative. No stock exchange, securities commission or other
regulatory authority has approved or disapproved the information
contained herein. Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
Forward-Looking Statements
Except for the statements of historical fact, this news release
contains “forward-looking information” and “forward-looking
statements” (collectively, “forward-looking information”) that are
based on expectations, estimates and projections as at the date of
this news release and are covered by safe harbors under Canadian
and United States securities laws. Forward-looking information in
this news release includes information about potential further
improvements to profitability and efficiency across mining
operations including, as a result of the Company’s expansion
efforts, potential for the Company’s long-term growth, and the
business goals and objectives of the Company. Factors that could
cause actual results to differ materially from those described in
such forward-looking information include, but are not limited to:
future capital needs and uncertainty of additional financing,
including the Company’s ability to utilize the Company’s
at-the-market offering program (the “ATM Program”) and the prices
at which the Company may sell securities in the ATM Program, as
well as capital market conditions in general; share dilution
resulting from the ATM Program and from other equity issuances;
risks relating to the strategy of maintaining and increasing
Bitcoin holdings and the impact of depreciating Bitcoin prices on
working capital; regulatory and other unanticipated issues that
prohibit us from declaring or paying dividends to our shareholders
that are payable in Bitcoin; continued effects of the COVID19
pandemic may have a material adverse effect on the Company’s
performance as supply chains are disrupted and prevent the Company
from operating its assets; development of additional facilities to
expand operations in Alabama may not be completed on the timelines
anticipated by the Company, or at all; the acquisition of North
Tonawanda, New York facilities closing on timely basis, or at all;
the results of any legal proceedings against the PSC or the
Company; ability to access additional power from the local power
grid; a decrease in cryptocurrency pricing, volume of transaction
activity or generally, the profitability of cryptocurrency mining;
further improvements to profitability and efficiency may not be
realized; the digital currency market; the Company’s ability to
successfully mine digital currency on the cloud; the Company may
not be able to profitably liquidate its current digital currency
inventory, or at all; a decline in digital currency prices may have
a significant negative impact on the Company’s operations; the
volatility of digital currency prices; and other related risks as
more fully set out in the Annual Information Form of the Company
and other documents disclosed under the Company’s filings at
www.sedar.com. The forward-looking information in this news release
reflects the current expectations, assumptions and/or beliefs of
the Company based on information currently available to the
Company. In connection with the forward-looking information
contained in this news release, the Company has made assumptions
about: the current profitability in mining cryptocurrency
(including pricing and volume of current transaction activity);
profitable use of the Company’s assets going forward; the Company’s
ability to profitably liquidate its digital currency inventory as
required; historical prices of digital currencies and the ability
of the Company to mine digital currencies on the cloud will be
consistent with historical prices; the ability to maintain reliable
and economical sources of power to run its cryptocurrency mining
assets; the negative impact of regulatory changes in the energy
regimes in the jurisdictions in which the Company operates; the
ability to adhere to Digihost’s dividend policy and the timing and
quantum of dividends based on, among other things, the Company’s
operating results, cash flow and financial condition, Digihost’s
current and anticipated capital requirements, and general business
conditions; and there will be no regulation or law that will
prevent the Company from operating its business. The Company has
also assumed that no significant events occur outside of the
Company's normal course of business. Although the Company believes
that the assumptions inherent in the forward-looking information
are reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainties therein.
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