This Bitcoin Miner is Debt Free Despite NASDAQ scare, How?
As per an official press release, Canadian Bitcoin (BTC) miner Digihost (DGHI) is debt-free and cash flow positive, despite a general decline in the crypto mining market. The development comes as a surprise as most Bitcoin mining companies are facing a severe cash crunch due to the falling price of BTC, and rising energy costs. As per the announcement, the Nasdaq-listed firm mined 74.58 bitcoin (BTC) in October. This accounts for a 78% rise over the 41.84 BTC it mined in October of last year. Based on a BTC price of $20,705 as of October 31, 2022, the company possessed 118.16 BTC at the end of October, which was valued at almost $2.45 million. The company also holds $3.42 million in fiat. Is the Bitcoin miner safe from its NASDAQ delists scare? In mid-October, Digihost faced a potential delisting on NASDAQ after the firm’s stock price plummeted by 84% this year. The firm received a deficiency notice from Nasdaq after its stock traded below $1 for a prolonged period, thereby...