The U.S based Bitcoin mining firm Digihost published a report on Bitcoin mining production announcing the achievement to double the hash rate from 415 PH to nearly 1 EH/s. The mining firm also announced its BTC dividend policy for the shareholders.
Apart from this, Digihost also revealed the adoption of the new dividend policy for the future to declare dividends payable to shareholders in either BTC or cash, as per the shareholders’ choice.
Michel Amar, CEO of Digihost stated that the company expanded its operation by deploying 10,600 M30S and M30S+ miners last year and over half of these miners are still active. Owing to this, the company has more than doubled its hashrate from 415 PH at year-end 2021 to approximately 1 EH/s today.
Currently, the network difficulty or bitcoin mining rate is approximately 4.25 coins per day, hence 120 Bitcoins per month.
Digihost is also going to implement a new BTC dividend policy pursuant to shareholders. As per the new BTC policy, the company would announce future dividends based on the firm’s net revenue.
Shareholders will be able to receive their dividend in BTC or Cash as per their choice. As Bitcoin is a volatile asset, future levels of dividends will be built by Digihost’s Board of Directors “based upon market conditions at the time”.
It is expected that the first dividend will be 10% of the net income.
He said, “Additionally, to avoid unnecessary dilution to our shareholders, the Company will begin to monetize a portion of BTC mined to fund the company’s operating costs and SG&A expenses, thereby removing the need to access equity markets in order to fund these costs. Digihost is also pursuing opportunities to leverage its existing asset base to finance future infrastructure and equipment expansion through debt financing.”
In March, the firm mined 75.24 BTC which increased the total stake to 797.47 BTC. As per the $45,500 valuation of bitcoin, the total valuation of these assets reached $36.3 million.
Digihost’s Ethereum holdings are 1,000.89 ETH as of March 31, 2022, which is nearly $3.3 million based on the current market price. As of March 31, 2022, Digihost’s total stake in BTC and ETH was approximately $39.6 million.
In comparison to Q1 2021, this year bitcoin mining rose from 105.21 BTC to 186.83 BTC by approximately 78% hike. The hike was noted in Bitcoin mining because of the high number of miners in the new fiscal year.
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