coindesk.com
Digihost (DGHI) became the first publicly traded miner to offer shareholders the option to get dividend payments in bitcoin ($BTC), starting from the third quarter of this year.
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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.
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Rest of Digihost’s net income will be reinvested into the business requirements and opportunities.
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“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.
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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.
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For 2022, the company said it expects an average hashrate of 1.5 exahash pre 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.
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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.
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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%.