Digihost Technology (NASDAQ: DGHI) recently announced a profit-sharing agreement with a strategic partner. This agreement involves integrating 11,000 S21 miners into its facilities. As part of the deal, the company will receive 60% of the daily Bitcoin mining rewards generated by these miners in exchange for providing the necessary capacity and electrical infrastructure support.
The deployment of the S21 miners will occur in phases, with an anticipated hash rate increase of 1.2 EH/s. The company aims to reach a total hash rate of 3.2 EH/s by the end of Q3 2024. This strategic partnership is expected to help Digihost Technology expand its mining operations and increase its Bitcoin mining capacity.
Overall, this partnership signifies a significant milestone for Digihost Technology as it continues to strengthen its position in the cryptocurrency mining industry. By leveraging the expertise and resources of its strategic partner, the company is well-positioned to capitalize on the growing demand for Bitcoin mining services.