Digihost Provides Update on Proposed Private Placement

TORONTO, March 08, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) announces that it will not be proceeding with the proposed non-brokered private placement of units of the Company (the “Offering”), which was announced on February 23, 2021. Given the recent volatility in trading activity, the Company has decided not to proceed with the Offering at this time, but may consider a non-brokered private placement at a later date with revisions to the number of units and the price per unit.

Michel Amar, the Company’s CEO, stated: “We remain focused on our mining operations at our highly efficient mining facility, and continue to be excited by the general strength of the blockchain sector. The Company is pleased with its increase to its hashrate to approximately 189 Petahash last month, and believe we are well positioned to maintain our strong Bitcoin mining operations. We remain dedicated to our ongoing efforts to continue to increase our hashrate, and our team is committed to evaluating every opportunity to create value for the Company and the shareholders through continued investment in, and expansion of, our productive asset base.”

About Digihost Technology Inc.

Digihost Technology Inc. is a growth-oriented blockchain company primarily focused on Bitcoin mining. The Company's mining facility is located in Buffalo, N.Y., and is equipped with an 18.7MVA 115,000-kilovolt-ampere outdoor substation with an option to increase the power output to 42MVA. The Company is currently mining approximately 1.2 Bitcoins per day, subject to difficulty. Digihost’s strategy is to focus on continually increasing its hashrate with a concurrent reduction in energy costs.

For further information, please contact:

Digihost Technology Inc.
www.digihost.ca
Michel Amar, Chief Executive Officer
Email: [e-mail]

Cautionary Statement

Trading in the securities of the Company should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.