Digihost Provides Update on Green Initiatives, Operational Efficiencies and Sustainability

This news release constitutes a “designated news release” for the purposes of the Company’s prospectus supplement dated March 4, 2022 to its short form base shelf prospectus dated February 23, 2022

HOUSTON, July 05, 2023 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq: DGHI; TSXV: DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide an update on its operational sustainability initiatives along with delivering unaudited comparative Bitcoin (“BTC”) production results for the month ended June 30, 2023, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.

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. The Company is pleased to report the following Green Energy milestones:

• The New York Independent System Operator (“NYSIO”) Power Trends 2023 reports that “Upstate New York” production is now 93% emissions free.
• Six months earlier than anticipated, the Company’s East Delevan facility is now the anchor subscriber to a community solar project in National Grid territory that generates more than 5MW’s of renewable energy into the National Grid system. This commitment aids in the development of future renewable energy development, as well as helps lower the costs of operations.
• Digihost entered into an additional NYISO-level curtailment program that demands fast acting curtailment of load. The Company’s flexible electricity load and proprietary software allows for rapid response to signals sent by the system operator, which then provides reliability and price stability to the grid during times of need.
  

Luke Marchiori, the Company’s Chief Sustainability Officer, stated: “Developing facilities with access to abundant renewable and zero-emissions electricity has always been paramount during site selection. Participating in the rapid response NYISO curtailment program, as well as being the anchor subscriber of a Community Solar project, not only conveys our commitment to environmental stewardship, but also lowers our cost of BTC production.”

Digihost continues to assess several 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.