2 years ago
Buffalo-based Digihost (DGHI), a comparatively tiny publically traded bitcoin miner looking to money ambitious maturation plans, this greeting announced an “at-the-market” stock offering for up to $250 million.
The company’s marketplace headdress was little than $100 cardinal arsenic of Thursday’s close, making a superior rise of $250 cardinal - adjacent implicit a play of clip - a sizable amount. Proceeds volition mostly beryllium utilized to money maturation and improvement of existing mining operations.
The merchantability of subordinate voting (SV) shares volition beryllium underwritten by H.C. Wainwright & Company.
Digihost earlier this week announced a afloat drawn $10 cardinal recognition facility, with a one-year word and 7.5% involvement rate.
Shares are down 13% connected Friday, partially acknowledgment to the stock offering and partially acknowledgment to a 5% diminution successful the terms of bitcoin (BTC) to $40,500.
Digihost mined 62.58 bitcoin successful January with a hashing complaint of astir 415 petahash per second. It said astatine the clip it planned to grow its mining powerfulness to 3.6 exahash per 2nd (EH/s) by the year-end, implying much than 700% summation from the January hashrate.
In comparison, Marathon Digital, 1 of the largest publically traded bitcoin miners, said its current hashrate is astir 3.8 EH/s, with plans to grow to 23.3 EH/s by aboriginal 2023.
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Aoyon Ashraf is crypto mining newsman with much than a decennary of acquisition successful covering equity markets
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