Digihost Technology (DGHI), one of the first stock traded bitcoin miner, has announced plans to issue dividends to its shareholders.
“Digihost has adopted a new dividend policy pursuant to which the Company expects to declare future dividends that will be based upon our net income,” Michel Amar, Chairman and CEO of Digihost, said before adding:
“Dividends under the new policy will be payable in either BTC or cash at the election of each shareholder.
Future levels of dividends will be established by the Digihost’s Board of Directors based upon market conditions at the time. It is expected that the first dividend will be 10% of net income.”
The bitcoin miner announced a 78% increase in Q1 2022 over Q1 2021 in bitcoin mined.
“We have more than doubled our hashrate from 415 PH at year-end 2021 to approximately 1 EH/s today, which at current network difficulty equates to approximately 4.25 coins per day on a run rate of over 120 coins mined per month,” Amar said.
For March they mined 75.24 BTC, increasing their total holdings to 797.47 bitcoin, worth $36.7 million at current price.
They also mine eth and have accumulated ◊1,000.89 in total, worth about $3.5 million. Bringing their total crypto holdings to $40 million.
In light of this significant collateral, they’ve began taking out a credit facility with Securitize Inc providing them $10 million rolling credit.
This may reduce any dilution of shares or liquidation of crypto assets as this still small but fast growing company now announces the first divided payment is expected to be made during Q3 2022 based on “the Company’s net income for the six months ended June 30, 2022.”