Digihost’s Vertical Integration Results in Expanded Production Capacity and a Significantly Reduced Operating Cost Structure

VANCOUVER, British Columbia, Feb. 27, 2020 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI) is pleased to provide operational highlights resulting from the Company’s recent reverse takeover transaction which was completed on February 14, 2020.  As a result of these operational improvements the Company has significantly enhanced its competitive position in the blockchain sector.                                   

• The vertical integration of Digihost’s cryptocurrency mining operations with the Company’s previously leased hosting infrastructure and equipment has resulted in a material reduction in operating costs.  Electricity costs, which comprise a significant percentage of the Company’s operating and maintenance costs, have now been reduced to an industry  competitive average supply cost of approximately US$0.038/kWh.  This reduction in electricity costs will result in a significant reduction to Digihost’s total operating costs going forward.
  
  
• Digihost has also increased its operating capacity through the acquisition of an additional 49Ph of hashing power which will generate an incremental 23.8 bitcoins per month with a power requirement of 3.9MW.  This additional equipment has a more efficient power utilization rate.  
  
  
• The Company intends on increasing the hash rate through the purchase of additional equipment over the course of 2020 and further lowering operating costs by lowering the cost of electricity. 
  
  
• In order to achieve Digihost’s stated objective of maximizing shareholder value the Company’s new management team has formulated a set of strategic objectives designed to expand operations to include blockchain software solutions for luxury fashion brands and AI products as well as the examination of the benefits of an acquisition of independent power generating facilities.

Michel Amar, CEO commented, “I am very excited to be an integral part of the Digihost management team. With the execution of our recently developed strategic plan we can take Digihost to the next level. We are working on several innovative initiatives for 2020 that will provide operational diversification for our fully integrated company.”