Digihost Announces 65% Year-Over-Year Increase in Bitcoin Mined and Provides January 2024 Production Update

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, Feb. 01, 2024 (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 unaudited comparative Bitcoin (“BTC”) production results for the month ended January 31, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.

Monthly Production Highlights for January 2024

• Mined approximately 107 BTC. Daily BTC mined during the month increased by 30% compared to December 2023, as despite less-than-optimal conditions for mining due to extreme weather conditions experienced in the month of January that led the Company to pause operations for a few days, on a month-over-month basis the Company was able to increase its mining output due to the growth in operating capacity previously disclosed.

• On a year-over-year basis, the Company increased its daily BTC mined by 65% compared to January 2023.

• The Company held cash, BTC and cash deposits of approximately $3.7 million as of January 31, 2024 (based on a BTC price of $42,758 as of January 31, 2024 per CoinMarketCap), which was comparable to Digihost’s cash, BTC and cash deposits of $2.8 million as of December 31, 2023 (based on a BTC price of $42,265 as of December 31, 2023 per CoinMarketCap).

• Spent approximately $0.3 million on capital expenditures, mining infrastructure support equipment and collateral deposits. Digihost continues to monitor its capital expenditures closely with self-funding to limit equity dilution for its shareholders.

• Consistent with management’s ongoing commitment to minimize equity dilution for its shareholders, the Company has continued to monetize a portion of its BTC production to fully fund its energy costs.

• The Company did not purchase or sell any miners during the month.
  

Operations Update

Presently, Digihost’s consolidated operating capacity across its three sites represents approximately 90MW of available power and is mining at hashrate of 2 EH/s.

About Digihost

Digihost is a growth-oriented technology company focused on the blockchain industry. The Company operates from three sites in the U.S. and, in addition to managing its own operations, provides hosting arrangements at its facilities.