07:08 AM EDT, 04/03/2024 (MT Newswires) -- Digihost Technology Inc. ( DGHI ) , a US-based blockchain technology and computer infrastructure company, on Wednesday reported a fourth-quarter net loss of US$9.7 million, or US$0.34 per diluted share, as compared with a loss of US$9.7 million, or US$0.36 per diluted share, a year earlier.

Revenue for the quarter ended Dec. 31, 2023, was US$7.4 million, up from US$5.7 million a year earlier.

In 2023, the company said it achieved a Bitcoin mining hashrate of 2 EH/s, representing an increase of 180% on a year-over-year basis.

The company bought 1,700 high-performance BTC miners during the first quarter of 2023.

The company held cash, BTC, and cash deposits of about US$6.2 million as of March 31, as compared with US$2.8 million as of Dec. 31, representing an increase of about 121% since the end of 2023.

Digihost's ( DGHI ) strategic growth plan is to continue to diversify its mining operations while accessing clean sources of energy.

The company plans to expand its current operational footprint in New York and Alabama and is working to access power and build infrastructure in other locations by the end of 2024, which would increase the company's hashing power by about 4EH.