Digihost Expands Bitcoin Mining Fleet With Addition of 4,640 S19 XPs 150TH Under Multi-Year Hosting Deal

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 05, 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 announce the signing of a multi-year hosting agreement with one of the world’s leading manufacturers of digital currency mining servers. All monetary references are expressed in USD unless otherwise indicated.

Under the executed agreement, Digihost will receive an upfront deposit of approximately $1.8 million along with 4,640 S19 XPs (21.5W/TH), which equates to approximately 14MW of hosting.

The Company plans to deploy these next generation, highly energy efficient and high-performance miners prior to the next Bitcoin halving. The deployment will result in an expected hash rate increase of approximately 700 PH/s, bringing Digihost’s total hash rate to 2.4 EH/s.

Michel Amar, CEO of Digihost, stated, “We are thrilled to be able to execute on an agreement that enables us to both strengthen our financial and overall cash flow position and increase our mining footprint through a partnership with a top-tier digital mining company. The Company continues to pursue opportunities to grow its computing power while remaining debt free, with the main goal being to convert our fleet to the newest generation of miners with minimal stock dilution.”

Community Solar Project

Digihost is currently the anchor subscriber to a 5MW Community Solar project located in Angola, New York. The project produces enough clean energy to power more than 1,000 homes annually. The Company’s long-term commitment to this project allows for the further development and construction of additional community solar projects throughout New York State.

A ribbon cutting for the project is scheduled for Q3 of 2024, which is when the solar credits will begin. Digihost’s participation in this project is not only environmentally prudent but also assists in lowering the Company’s overall costs of electricity.

Operations Update

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