Peterson McVicar Acts for Digihost in $10 Million Non-Brokered Private Placement
On February 24, 2021 Digihost Technology Inc. (“Digihost” or the “Company”) announced a non-brokered private placement financing of up to $10,000,000 (the “Offering”). The Offering will consist of the sale of up to 2,857,142 units (“Units”) at a price of $3.50 per Unit.
Proceeds of the Offering will be used by the Company to acquire the latest generation miners, increase mining capacity, reduce energy costs and for general working capital purposes.
Digihost is a growth-oriented blockchain company primarily focused on Bitcoin mining. The Company’s mining facility is located in Buffalo, N.Y., and is equipped with an 18.7MVA 115,000-kilovolt-ampere outdoor substation with an option to increase the power output to 42MVA. The Company is currently hashing approximately 1.3 Bitcoins per day. Digihost’s strategy is to focus on continually increasing its hashrate with a concurrent reduction in energy costs.
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