Digihost (DGHI) became the first publicly traded crypto miner to offer shareholders the option to get dividend payments in bitcoin (BTC), starting from the third quarter of this year.
- The company’s first dividend will be 10% of its net income during the third quarter of 2022. Shareholders will have the option to get paid in either bitcoin or cash, the miner said in a statement on Monday.
- The rest of Digihost’s net income will be reinvested to fund future business requirements and opportunities.
- “The Board of Directors of Digihost is pleased to announce our decision to become the first public company in the crypto mining space to implement a dividend policy payable in BTC to its shareholders,” said CEO and chairman Michel Amar in the statement.
- The decision comes as publicly traded miners are looking to diversify their business model to create additional shareholder value, rather than just holding onto their bitcoins in their balance sheet.
- For 2022, the company said it expects an average hashrate of 1.5 exahash per second (EH/s), which is about a 5.5 times increase compared to its 2021 average hashrate. Currently, the miner's hashrate is 1 EH/s and it mines 4.25 bitcoins per day.
- The miner also said it mined 186.8 bitcoin in the first quarter, an increase of about 78% from the same time period last year.
- At the time of writing, Digihost shares were up over 5% in early trading. Its shares have fallen about 27% this year, while bitcoin fell 3.6%.
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