Digihost Technology (NASDAQ:DGHI) recently announced a profit-sharing agreement with a strategic partner that involves integrating 11,000 S21 miners into its facilities. As part of the agreement, the company will receive 60% of the daily Bitcoin mining rewards from these miners in exchange for providing the necessary capacity and electrical infrastructure support.
This move is aimed at increasing the company’s overall mining capacity and optimizing its operations. The deployment of these miners will be carried out in phases, with an expected hash rate increase of 1.2 EH/s by the end of Q3 2024. This will bring the total hash rate to a targeted 3.2 EH/s.
By partnering with a key player in the industry, Digihost Technology is positioning itself for long-term success and sustainability. This agreement represents a significant milestone for Digihost Technology, as it expands its mining capabilities and solidifies its position in the cryptocurrency market. The company is strategically aligning itself to take advantage of the growing demand for Bitcoin mining and to maximize its potential for profitability.