Digihost Announces Month-Over-Month Increase in Cash and Crypto Position and Provides April 2024 Production Update

HOUSTON, May 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 April 30, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.

Michel Amar, Chairman and CEO of Digihost, commented, “The Company is pleased to announce that it has been able to increase and secure its overall cash and cryptocurrency position over the course of the last few months. Even though Digihost is facing similar challenges as other miners post-halving, the recent steps taken by the Company to diversify its revenue streams and partner on hosting agreements will allow it to pursue additional opportunities to enhance its computing power in an environmentally conscious manner.”

Monthly Production Highlights for April 2024

• The Company held cash, BTC and cash deposits of approximately $6.7 million as of April 30, 2024 (based on a BTC price of $60,970 as of April 30, 2024 per CoinMarketCap), as compared to $6.2 million as of March 31, 2024 (based on a BTC price of $71,200 as of March 30, 2024 per CoinMarketCap), representing an increase over the previous month of approximately 8%.
  

• Between self-mining and hosting agreements, miners at the Company’s facilities produced approximately 85 BTC during the month of April, representing a decrease of daily BTC mined during the month of approximately 6% compared to March 2024, as the Bitcoin halving event that occurred during the month of April reduced the rewards for mining. Despite the halving and the decline in the price of BTC throughout April, as compared to the previous month, the Company’s ending BTC position increased over the March 2024 balance by approximately $0.8 million.
  

• Spent approximately $0.2 million on capital expenditures and mining infrastructure support equipment. 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.
  

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.