Starting in the third quarter of this year, Digihost (DGHI) became the first publicly traded crypto miner to offer shareholders the option of receiving dividend payments in bitcoin (BTC).
During the third quarter of 2022, the company will pay out its first dividend, which will be 10% of net income. The miner said in a statement on Monday that shareholders will have the option of receiving payment in bitcoin or cash.
The remaining net income of Digihost will be re-invested to meet future business needs and opportunities.
In a statement, CEO and chairman Michel Amar said, "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."
The decision comes as publicly traded miners seek to diversify their business models in order to increase shareholder value beyond simply holding bitcoins on their balance sheets.
The company expects an average hashrate of 1.5 exahash per second (EH/s) in 2022, which is a 5.5-fold increase over the average hashrate in 2021. The miner currently has a hashrate of 1 EH/s and mines 4.25 bitcoins per day.
The miner also revealed that it mined 186.8 bitcoin in the first quarter, up 78 percent from the same period the previous year.
Digihost shares were up over 5% in early trading at the time of writing. Its stock has dropped about 27% this year, while bitcoin has dropped 3.6 percent.
By fLEXI tEAM