Digihost Technology Inc. announced it has filed an amended annual report on Form 20-F for the fiscal year ended December 31, 2023, with the U.S. Securities and Exchange Commission (SEC). This report contains restated financial statements for the fiscal years ended December 31, 2023, and 2022.
The restatement was required to correct a material error in the classification of proceeds derived from the sale of digital assets, which were previously categorized as cash flow from operating activities and are now classified as cash flow from investing activities. This reclassification was made in consultation with management and the Audit Committee of the Board of Directors following an SEC review.
Digihost emphasized that the restatement does not impact the company’s overall cash position or net cash flows for any of the restatement periods. However, management has concluded that a material weakness existed in its internal control over financial reporting during these periods, and remediation measures are being implemented to address this weakness.
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