07:28 AM EDT, 08/15/2024 (MT Newswires) -- Digihost Technology ( DGHI ) , on Thursday said its second quarter net loss widened even as revenue rose.

The blockchain technology and computer infrastructure company said its net loss widened to US$4.76 million, or US$0.16 per share, from US$3.3 million, or US$0.12 per share, in the prior-year period.

Total revenue rose 57% to US$9.23 million, from US$5.87 million, last year, due to a higher Bitcoin price. The company also diversified its revenue verticals through various colocation agreements and the sale of energy, the latter of which increased 123%.

Digihost's ( DGHI ) consolidated operating capacity across its three sites represents 90MW of available power and is mining at a hashrate of 2.75 EH/s. It plans to expands its current operational footprint in New York and Alabama and is looking to access power and building infrastructure in other locations by the end of 2024 to increase its hashing power by 4EH.