Digihost Technology Inc (OTCMKTS: HSSHF) was one of the biggest OTCQB stock gainers on Friday.
HSSHF stock gained 42.88% to $2.03 on Friday. More than 2.47 million shares traded hands for the session five times its 30-day average volume. The stock opened at $1.59 and moved within a range of $1.55-$2.05.
Digihost Technology Released News Late Friday
After the market closed on Friday, Digihost Technology released an update. Here are the key highlights:
Digihost Provides Update on Deal to Acquire 9,900 Bitcoin Miners and Increase Hashrate by 925PH
- HSSHF intends to acquire 9,900 Bitcoin (“BTC”) miners (the “Miners”) that will increase the Company’s current hashrate by approximately 925PH to 1.145EH
- The Company is funding the purchase of the Miners with capital from its equity financings closed since the beginning of 2021 of approximately CA$54,000,000.
- The Company anticipates the costs of developing systems to supply the mobile data centers with power from the facilities will be approximately US$4.5 million, which the Company will fund with capital from its previously completed equity financings.
Michel Amar, the Company’s CEO, stated: “Since the beginning of the year, we have achieved operational milestones in support of our growth strategy. We are pleased to be in a position today to have the required funding, power capacity, and access to infrastructure to execute on our strategy for 2021 and beyond.”
HSSHF is trading well above its 50-day and 200-day moving average price of $1.77 and $0.87 respectively. The stock has gained 161% so far this year. Both RSI and MACD are rising sharply. Average daily volume has doubled over the last 30 days from 443k to 1.1 million shares a day. Friday’s volume was well above that.