Corporate Highlights for
- Produced 51.28 BTC during the month, increasing total holdings to 402.1 BTC representing a fair market value of approximately
$16.7 million as atJuly 31, 2021 . - Total Ethereum (“ETH”) holdings of 563.89 ETH representing a fair market value of approximately
$1.4 million as atJuly 31, 2021 . - Total digital asset inventory value consisting of BTC and ETH of approximately
$18.1 million at the end of July. - Cash on hand at
July 31st was approximately$18.8 million , and total cash and digital asset holdings was approximately$36.9 million . - Year-to-date investment in infrastructure pertaining to core business operations of approximately
$23.5 million .
Bitcoin Mining Update
For the seven-month period ended
- Quarter 1, 2021: 105.26 BTC
- January: 33.70
- February: 35.02
- March: 36.54
- Quarter 2, 2021: 109.97 BTC
- April: 37.52
- May: 34.26
- June: 38.19
- Quarter 3, 2021: 51.28 BTC
- July: 51.28
Month-Over-Month Comparison
In comparison to
Figure 1. Month-over-month BTC Mining
https://www.globenewswire.com/NewsRoom/AttachmentNg/0f2fe03e-6935-4194-b030-cd290f2b781c
Year-Over-Year Monthly Comparison
Compared to July of 2020, the Company mined approximately 38.18 more BTC in July of 2021, representing an increase of 291%. Based on
Figure 2. Year-over-year BTC Mining
https://www.globenewswire.com/NewsRoom/AttachmentNg/16d97ff5-6bc2-4b17-a2f2-710bc4268087
Management Commentary
About
For further information, please contact:
www.digihost.ca
T: 1-818-280-9758
Email: michel@digihost.ca
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
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 is based on expectations, estimates and projections as at the date of this news release. Forward-looking information in this news release includes information about hashrate expansion, diversification of operations, potential further improvements to profitability and efficiency across mining operations, potential for the Company’s long-term growth, and the business goals and objectives of the Company. Factors that could cause actual results, performance or achievements to differ materially from those described in such forward-looking information include, but are not limited to: 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; the ability to establish new facilities for the purpose of research & development; a decrease in cryptocurrency pricing, volume of transaction activity or generally, the profitability of cryptocurrency mining; delivery of mining rigs for hosting may not be realized in the number anticipated, or at all, and resulting hashing power may materially differ from that anticipated; 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; 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 uncertainty therein.
Figure 1: Month-over-month BTC Mining
Figure 1: Month-over-month BTC Mining
Figure 2: Year-over-year BTC Mining
Figure 2: Year-over-year BTC Mining
2021 GlobeNewswire, Inc., source