Digihost Announces Deal With Northern Data AG Acquiring 10,000 Bitcoin Miners and Increasing Hashrate by 925PH
TORONTO, May 12, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce that the Company
has signed a definitive purchase agreement (the “Purchase Agreement”) to acquire approximately 10,000 of the most technologically advanced, high-performance Bitcoin
(“BTC”) miners (the “Miners”), that will increase the Company’s current hashrate by approximately 925PH to 1.145EH, with delivery of the Miners to occur between
August and December of this year.
The Miners have been sourced from Northern Data AG (“Northern Data”) (ISIN: DE000A0SMU87; OTC: NDTAF), a leading infrastructure supplier for BTC mining and other high-performance computing (“HPC”) infrastructure solutions. Pursuant to the terms of the Purchase Agreement, the Company has concurrently entered into a hosting agreement (the “Hosting Agreement”) with Northern Data in connection with the Miners, whereby Northern Data will provide services to the Company including the installation and hosting of the Miners in proprietary pre-manufactured performance optimized mobile data centers to be located at Digihost’s company-owned facility. Both parties are in advanced discussions to expand the Purchase Agreement beyond the initial 10,000 Miners up to a total of 30,000 miners, giving Digihost the potential to increase its current hashrate to approximately 3.0EH.
Under the terms of the Hosting Agreement, Digihost will provide power to the operation from its recently acquired 60MW power plant (press release – March 24, 2021), and Northern Data will be responsible for supplying and maintaining the dedicated data centre infrastructure. To the extent possible, the Company intends to source and utilize renewable natural gas for the operations of its power plant, Digifactory1, and also engage in the practice of acquiring renewable energy certificates, all in line with the Company’s objective to mitigate its carbon footprint. The net revenue generated from the BTC mining operation, after paying Digihost a very competitive power rate, will be allocated between Digihost and Northern Data according to a fixed distribution formula.
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