Peterson McVicar Acts for Digihost in $4 Million Non-Brokered Private Placement
On February 19, 2021 Digihost Technology Inc. (“Digihost” or the “Company”) announced that it had closed its previously announced non-brokered private placement financing for aggregate gross proceeds of $4,000,000 (the “Offering”). Pursuant to the Offering, the Company issued 4,938,271 common shares of the Company (“Shares”) at a price of $0.81 per Share.
Proceeds of the Offering, combined with Digihost’s existing capital resources, will be used by the Company to acquire the latest generation miners, increase 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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