Digihost Announces Status of NASDAQ Listing Application and Expansion of Cryptocurrency Business Model

TORONTO, May 10, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce that further to its disclosure on April 14, 2021 of its intention to seek access to a larger U.S. equity exchange, the Company is currently in the advanced stages of the application process for a listing of its securities on the Nasdaq Stock Exchange (the “NASDAQ”). In conjunction with the application process, the Company expects to file a registration statement with the Securities and Exchange Commission in the near-term.

Stock Market Listing
Since the beginning of the year, due to increasing investor demand, the Company decided to pursue an additional exchange listing for its shares on a larger U.S. stock exchange. In early February, the Company announced that its listing in the U.S. market had been upgraded from the OTC Pink Sheets to the OTCQB. Thereafter in March, the Company submitted an initial application for a listing on the NASDAQ. The NASDAQ listing application process is subject to a number of listing requirements and regulatory approvals, and as such there can be no assurances that a listing will be granted.

Business Strategy
Beginning in November of 2020, there has been a substantial improvement in the cryptocurrency sector and this period has been transformative for Digihost, as the Company continues to achieve many significant milestones in its evolution to become a top tier blockchain technology company. A cornerstone of the Company’s business strategy has been and continues to be the mining and holding of Bitcoin (“BTC”) as efficiently as possible through the strategic acquisition of latest generation BTC miners and the vertical integration of low-cost sources of clean energy. The Company is actively pursuing opportunities to expand its hashrate to over 1EH by the end of 2021 and potentially to 3EH during the first half of 2022 by filling the hashing capacity which will be created by the recent acquisition of a 60MW power plant. Digihost is also exploring opportunities to expand its infrastructure by geographically diversifying in both the United States and Canada.

Digihost continually evaluates market trends in the blockchain and cryptocurrency space and seeks to manage risk and capitalize on opportunities to enhance shareholder value. As such, the Company is pleased to report that it has recently adopted plans to expand its operations and business strategy to include Ethereum technology and Ether ("ETH") as a cryptocurrency in its portfolio. The adoption of Ethereum technology will also contribute to the lowering of the Company’s carbon footprint. In addition to its strong BTC mining operations, the Company has the resources and capabilities to diversify into Ethereum technology, which has broad applications and significant potential for growth. The Company currently holds a balance of 563.88 ETH.