Digihost Reports Positive Year Over Year Revenue Growth and 49% Increase in EBITDA* for Q3 2023
HOUSTON, Nov. 14, 2023 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq: DGHI; TSXV: DGHI), an innovative U.S. based blockchain technology and computer infrastructure company is pleased to provide a summary of the Company’s unaudited financial results for the third quarter ended September 30, 2023 (all amounts in U.S. dollars, unless otherwise indicated). The Company’s unaudited consolidated financial statements and management’s discussion and analysis (“MD&A”) for the three and nine month period ended September 30, 2023 have been filed and made accessible under the Company’s continuous disclosure profile on SEDAR at www.sedar.com and are also accessible on the U.S. Securities and Exchange Commission’s (the “SEC”) EDGAR website at www.sec.gov/EDGAR.
Comparative Financial Highlights for the Three-Month Period Ended September 30, 2023
* EBITDA is a non-IFRS financial measure and should be read in conjunction with and should not be viewed as alternatives to or replacements of measures of operating results and liquidity presented in accordance with IFRS. Readers are referred to the reconciliations of non-IFRS measures included in the Company’s MD&A and at the end of this press release.
The Company achieved significant milestones year-to-date 2023:
At-the-Market Financing Update
On March 4, 2022, the Company entered into an offering agreement with H.C. Wainwright & Co., LLC as agent (the “Agent”), pursuant to which the Company established an at-the-market equity program (the “ATM Program”). From the commencement of the ATM Program through September 30, 2023, the Company issued 386,463 subordinate voting shares in exchange for gross proceeds of $701,316, at an average share price of $1.81, and received net proceeds of $673,855 after paying commissions of $21,040 to the Agent and incurring $6,421 of other transaction fees.
During the quarter ended September 30, 2023, the Company issued 107,418 subordinate voting shares in exchange for gross proceeds of $240,245, at an average share price of $2.11, and received net proceeds of $231,714 after paying commissions of $7,207 to the Agent and incurring $1,324 of other transaction fees.
Digihost is a growth-oriented technology company focused on the blockchain industry. The Company operates from three sites in the U.S. and, in addition to managing its own operations, provides hosting arrangements at its facilities.
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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.
The table below provides a reconciliation of income to EBITDA for the three months ended September 30, 2023 and 2022.
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