News, Culture & Society

MIDAS SHARE TIPS UPDATE: Cash in on internet cables with Digital 9


MIDAS SHARE TIPS UPDATE: Cash in on cables that power the internet with Digital 9

We may be going out more these days but most people are still wedded to their mobiles and laptops, while businesses are keener than ever to go digital. 

Research suggests there will be 30billion internet connected devices by 2023. These depend on subsea cables, which transport data around the world. 

Data also needs to be stored and managed in specialist centres that are highly secure and temperature-controlled. 

Connected: Digital 9 Infrastructure was formed to reduce the carbon footprint associated with online activity

Demand is growing at pace but the centres are widely criticised for using vast amounts of energy – so big firms are seeking out low-carbon sites, powered by renewable energy. 

Digital 9 Infrastructure was formed to reduce the carbon footprint associated with online activity, help more people to access the internet and deliver generous returns to shareholders. 

The group floated in March 2021, has made strong progress so far and should continue to do so. 

Boss Thor Johnsen has already acquired four renewably-powered Nordic data centres, used by international businesses, including carmakers, banks and healthcare firms. 

Other investments include two subsea cables, one from America to the UK and Ireland and one from India to Europe. Several other transactions have been completed too, with more expected to follow in short order. 

Midas verdict: Midas recommended Digital 9 a year ago, when the shares were £1.12. The stock has since risen to £1.16. Shareholders have received 4.5p in dividends, with 6p forecast for this year, a yield of just over 5 per cent. Johnsen is determined not just to do well but also to do good and signs to date are encouraging. An attractive stock for the long-term. 

Traded on: Main market Ticker: DGI9 Contact: or 020 7201 8989