Digihost Reports on Green Energy Consumption
TORONTO, May 17, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to report that over 90% of
the energy consumed by the Company in its Bitcoin (“BTC”) mining operations is from sources that create zero carbon emissions and more than 50% of the energy consumed by the
Company is generated from renewable resources.
The following table provides a breakdown of the sources of energy consumed by Digihost in its BTC mining operations in 2020:
|SOURCE OF ENERGY *||%|
|Hydro pumped storage||0.56|
* Source of Energy information obtained from NYISO: Zone A - E
A cornerstone of Digihost’s business strategy is to continue to mine BTC in an efficient and environmentally conscious manner, thereby minimizing the Company’s carbon footprint. Digihost will assess a number of alternatives including the purchase of carbon credits to reduce its already low carbon footprint. The Company’s long-term plans for growth include vertical integration of power production from low-cost, clean and renewable sources of energy. On March 24, 2021, the Company announced the acquisition of a 60MW power plant for which it intends, to the extent possible, to source and utilize renewable natural gas and also engage in the practice of acquiring renewable energy certificates, all in line with the Company’s objective to reduce and mitigate its carbon footprint.
Michel Amar, the Company’s CEO, stated: “We are extremely proud to report that over 90% of the energy consumed by Digihost is from sources producing zero carbon emissions, and that over 50% is from renewable sources of energy, making Digihost one of the cleanest green Bitcoin mining operations in the United States. As a Company, we have always been cognizant of the potential impact Bitcoin mining could have on the environment and therefore have planned our growth and expansion to be environmentally conscious, in our pursuit of opportunities that maximize value for our shareholders.”