Digihost Announces 45% Year-Over-Year Increase in Bitcoin Mined and Provides February 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, March 04, 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 February 29, 2024, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.

Monthly Production Highlights for February 2024

• The Company held cash, BTC and cash deposits of approximately $3.9 million as of February 29, 2024 (based on a BTC price of $61,198 as of February 29, 2024 per CoinMarketCap), an increase compared to Digihost’s cash, BTC and cash deposits of $3.7 million as of January 31, 2024 (based on a BTC price of $42,583 as of January 31, 2024 per CoinMarketCap).

• Mined approximately 95 BTC. Daily BTC mined during the month decreased by 11% compared to January 2024, as overall BTC difficulty increased by approximately 16% during the month due to the surge of prices of certain cryptocurrencies during the month of February. Despite the increase in mining difficulty, the Company’s ending BTC position increased over the previous month by approximately $0.3 million.

• On a year-over-year basis, the Company increased its daily BTC mined by 45% compared to February 2023.

• Spent approximately $1.3 million on capital expenditures, mining infrastructure support equipment, energy credits and collateral deposits, an increase of 333% over January 2024. 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.
  

Michel Amar, CEO of Digihost, stated: “We are excited to be in a position to capitalize on the surging BTC market, as our company has the mining infrastructure in place to be able to rapidly expand, if necessary, in order to optimize our resources in an environmentally conscious manner and continue to provide value to our shareholders.”