The following is a summary of the Digihost Technology Inc. (DGHI) Q3 2024 Earnings Call Transcript:
Financial Performance:
Q3 revenue grew by 104% year-over-year to $31.4 million, driven by expansions in megawatt footprint and colocation agreements.
EBITDA for the 9 months ended September 2024 was a positive $5.5 million, representing a nearly 3.5x increase from the previous year.
Adjusted EBITDA for the quarter was positive and totaled $3 million for the year to date.
Business Progress:
Expanded existing megawatt footprint allowing for increased energy utilization.
Engaged in strategic partnerships with large U.S. Bitcoin miners.
Expect to expand total megawatt capacity significantly in the coming months, detaling expansions at both Columbiana Alabama and New York facilities.
Transitioning toward Tier 3 data center operations, with development plans already initiated.
Opportunities:
Advanced into the mining colocation service, expecting to drive future revenue amid evolving digital infrastructure demands.
Prospective expansion of capacity from 60 megawatt to 120 megawatt in New York and from 22 megawatt to 55 megawatt in Alabama.
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
