Essay content

HOUSTON, June 11, 2024 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” either or “Company(Nasdaq/TSXV: DGHI), a leading American blockchain technology and computer infrastructure company, is pleased to announce that it has entered into a transformative profit sharing agreement with a strategic partner. The collaboration will leverage the company’s robust infrastructure to accommodate new digital currency mining servers. All financial references herein are in USD unless otherwise stated.

Advertisement 2

Essay content

Under the agreed agreement, Digihost will integrate 11,000 state-of-the-art S21 miners (200/TH).S21 MinerIn its facilities, this translates to approximately 44MW of hosting. The deal also includes a profit-sharing component, whereby Digihost will receive 60% of the daily bitcoin mining rewards earned by S21 miners in exchange for fixed capacity and electricity infrastructure support. will be provided.

Digihost President Alec Amar commented, “This agreement marks another milestone for Digihost, which is structured to allow us to diversify our revenue streams, strengthen our financial position and our hashing capabilities. Our goal is to scale our computing power while remaining debt-free, eventually transitioning our fleet to the latest generation of miners and a targeted hash rate of 5 EH/s by the end of 2024. Significantly, we are increasing our hash rate by nearly 50%, further expanding our technical capabilities The company will leverage its existing infrastructure in this effort, which we expect will provide cost efficiencies.

Essay content

Advertisement 3

Essay content

Deployment of these next-generation, energy-efficient miners will be completed in phases, with an expected hash rate of 1.2 EH/s, reaching a targeted total of 3.2 EH/s by the end of Q3 2024.

Sustainability update

Luke Marchiori, the company’s Chief Sustainability Officer, said, “The company is committed to environmental responsibility as well as demonstrating real decarbonization efforts in line with our DigiGreen initiative. In addition to the 93% zero-emissions power already available Physically delivered to our East Delaware facility, in 2024 Digihost will receive renewable energy certificates to meet an additional 7% to achieve 100% carbon-free energy.5MW in Angola, New York In addition to the company’s long-term commitment to become an anchor subscriber to the 2018 Community Solar Project, which is expected to go live this month, New York State has some of the most ambitious renewable energy and GHG goals in the country “Excited to be working in a state that has such abundant resources to be zero carbon, while still offering reliable and low-cost electricity.”

Advertisement 4

Essay content

Operations Update

Currently, Digihost’s combined operating capacity across its three sites represents approximately 90MW of available power, and Digihost is mining at a 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 US and provides hosting arrangements at its facilities, in addition to managing its own operations.

For more information, please contact:

Digihost Technology Inc.
Michelle Amar, Chief Executive Officer
T: 1-818-280-9758
Email: [email protected]

Cautionary Statement

Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) assumes responsibility for the adequacy or accuracy of this release.

Advertisement 5

Essay content

Forward-Looking Statements

In addition to statements of historical fact, this news release contains “forward-looking information” and “forward-looking statements” (collectively, “forward-looking information”) that are based on expectations, estimates and projections as of the date hereof. Covered by news releases and safe harbors under the securities laws of Canada and the United States. Forward-looking information in this news release includes information about possible further improvements in profitability and efficiency in mining operations,
including, as a result of the Company’s agreements with strategic partners, expansion efforts, the Company’s long-term growth prospects, and the Company’s business goals and objectives. Factors that could cause actual results to differ materially from those expressed in such forward-looking information include, but are not limited to: the uncertainty of future capital requirements and additional financing; Dilution of shares resulting from equity issuance; strategies to maintain and grow bitcoin holdings and risks related to the impact of bitcoin price declines on working capital; Regulatory and other unforeseen issues that prohibit us from declaring or paying dividends to our shareholders that are payable in Bitcoin. the effects of the recent bitcoin halving on bitcoin prices; The development of additional facilities and the installation of infrastructure to expand operations may not be completed on the Company’s anticipated timelines, or at all. deliveries of miners pursuant to the Company’s hosting agreements that are not completed on the Company’s anticipated timelines, or at all; the ability to access additional electricity from the local power grid; a decrease in cryptocurrency prices, the volume of transaction activity or the profitability of cryptocurrency mining in general; Further improvements in profitability and efficiency may not be possible. digital currency market; the Company’s ability to successfully mine digital currency on the cloud; the Company may not be able to liquidate its existing digital currency inventory profitably, or at all; A decline in digital currency prices could have a material adverse effect on the Company’s operations. Fluctuations in digital currency prices; and other related risks as fully described in the Company’s Annual Information Form and other documents disclosed in the Company’s filings And Forward-looking information in this news release reflects the Company’s current expectations, assumptions and/or beliefs based on information currently available to the Company. In connection with the forward-looking information contained in this news release, the Company has made assumptions about: current profitability in mining cryptocurrency (including the value and volume of current transaction activity); profitable use of the company’s assets going forward; the Company’s ability to profitably liquidate its digital currency inventory as needed; Historical prices of Digital Currencies and the Company’s ability to mine Digital Currencies on the Cloud will be based on historical prices. the ability to maintain a reliable and economical source of power to operate its cryptocurrency mining assets; Adverse effects of regulatory changes in the energy systems in the jurisdictions in which the Company operates. Digihost’s ability to implement its dividend policy and the timing and amount of dividends based on, among other things, the Company’s operating results, cash flows and financial condition, Digihost’s current and anticipated capital requirements, and general business conditions; And there shall be no regulation or law preventing the company from carrying on its business. The Company also assumes that no material events occur outside the normal course of business of the Company. Although the Company believes that the assumptions contained in the forward-looking information are reasonable, forward-looking information is not a guarantee of future performance and, accordingly, undue reliance should not be placed on such information due to the uncertainties inherent therein. Should.

Digihost Technology Inc

Essay content

Source link