Core Viewpoint - Digihost Technology Inc. has filed an amended annual report with the SEC, which includes restated financial statements for the fiscal years ended December 31, 2023, and 2022, due to a material error in the classification of proceeds from the sale of digital assets [1][2]. Financial Restatement Summary - The restatement does not affect the Company's overall cash position or net cash flows for the restatement periods [2]. - For the year ended December 31, 2022, the proceeds from the sale of digital assets were reclassified from operating activities to investing activities, resulting in a net change in cash related to operating activities of (2,428,758) [4]. - For the year ended December 31, 2023, the reclassification led to a net change in cash related to operating activities of 12,007,498 [5]. Management's Assessment - The Company's management identified a material weakness in its internal control over financial reporting during the restatement periods and is implementing remediation measures to address this issue [5]. Company Overview - Digihost is an innovative energy infrastructure company focused on developing advanced data centers to promote the growth of sustainable energy assets [6].
Digihost Announces Restatement of Previously Issued Financial Statements