Digihost Technology Q1 crypto mining revenue jumps 52%

Cryptocurrency miner Digihost Technology (NASDAQ:DGHI) experienced a sizable boost to its mining revenue during the first quarter, driven by increased production of bitcoin (BTC-USD). Looking forward, Digihost (DGHI) "anticipates that it will mine more BTC in Q2 than it mined during Q1 of this year,” said CEO and Chairman Michel Amar. Still, Q1 EPS of $0.00 missed the average analyst estimate of $0.16 and was unchanged from the year-ago period. Revenue of $7.3M also fell short of the consensus of $15.4M but jumped from $4.8M in Q1 a year ago. Gross profit was $581.3K in Q1 vs. $2.11M in Q1 2021. The company mined a total of 186.53 bitcoins (BTC-USD) as of March 31, compared with 105.25 as of March 31, 2021. Operating income of $512.6K in Q1 rose from $228.3K in Q1 of last year. Previously, (May 4) Digihost reported 44% growth in April mined bitcoin.