If you are looking into stocks that clocked handsome gains yesterday then it might be difficult to look past the Digihost Technology Inc (OTCMKTS:HSSHF) stock. The stock was in sharp focus yesterday after it announced its financial results for the second fiscal quarter and managed to clock gains of as much as 12%.
In the second quarter, the company managed to generate revenues of as much as $5.1 million from its digital cryptocurrency mining operations. More importantly, it represents a rise of a staggering 369% from the year ago period and 7% on a sequential basis. Hence, the optimism among investors with regards to the Digihost stock is understandable.
On the other hand, Digihost also managed to generate cash of as much as $20.3 million in the quarter and that again reflected a massive rise from the cash flow of only $95,000 in the prior year period. As a matter of fact, in the previous quarter the cash flow stood at only $7.1 million.
Last but certainly not the least, Digihost managed to generate a gross profit of $2.9 million in the second quarter and that was a major turnaround from the $1 million gross loss that it had suffered in the prior year quarter.
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