Digihost Reports 86% Increase in Y/Y Bitcoin Production, Provides Update on Received and Deployed Miners

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TORONTO, Feb. 01 Feb. 2, 2022 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq: DGHI; TSXV: DGHI), an innovative North American Bitcoin self-mining company, is pleased to provide unaudited Bitcoin (“BTC”) production updates for the month ended January 31, 2022. All amounts are in USD unless otherwise noted.

Year-over-year monthly comparison

The company mined approximately 62.58 BTC in January 2022, an increase of 28.88 BTC or 86% from January 2021. Using BTC closing prices for January 31, 2022 and January 31, 2021 (from CoinDesk) , respectively, the value of the company’s BTC mined in January 2022 increased by approximately $1.3 million, or approximately 116%, compared to January 2021.

Figure 1. Year-over-year monthly BTC production

Jan-21

Jan-22

Annual increase

mined BTC

33.70

62.58

28.88

Approximate BTC value

$

33 139

$

38,500

$

5,361

Value

$

1,116,784

$

2,409,330

$

1,292,546

Production Highlights for January 2022

Mined 62.58 BTC, bringing total holdings to 698.64 BTC valued at approximately $26.9 million as of January 31, 2022 based on a month-end BTC price of $38,500.

Total Ethereum (“ETH”) holdings of 1,000.89 ETH valued at approximately $2.7 million as of January 31, 2021 based on a month-end ETH price of $2,650.

Total digital currency inventory value comprised of BTC and ETH of approximately $29.6 million as of January 31, 2022.

The company’s current hashrate is around 415PH and is expected to increase to around 1.2EH by the end of Q1 2022.

Michel Amar, CEO of the company, said, “Digihost is very pleased to report our continued strong operational performance for the first month of 2022, resulting in an 86% increase in coins mined compared to January 2021. During 2022, the company will adhere to its plan to increase mining capacity through the expansion of mining infrastructure coupled with the acquisition of latest generation miners, while continuing to be a low-cost producer. bitcoin cost.

The story continues

Update on Miner Receipt and Deployment

As of January 31, 2022, the Company has received approximately 9,000 high-performance, technologically advanced Bitcoin M30 miners (“Miners”) from its 2021 purchase order of 9,900 miners from Northern Data AG.

The remaining miners from this order are expected to arrive at Digihost’s data center by the end of February 2022.

Digihost began initial rollout of the received miners in Q4 2021 and expects them to be fully operational by the end of Q2 2022. A portion of these miners were tied to the miner rental agreement of the partnership with Northern Data, NY LLC, pursuant to which the parties have agreed to share a portion of the mining rewards received and energy costs incurred for Miners commissioned pursuant to the Miner Lease Agreement.

Leadership Appointment

Digihost is pleased to announce the appointment of Mr. Donald Christie as Chief Operating Officer of the company.

Mr. Christie has served as chairman of the company’s audit committee since February 2020, when the company completed its reverse takeover transaction. During this period, Mr. Christie worked closely with management in developing and funding the Company’s growth strategy. In his new role as Chief Operating Officer. He will be responsible for working closely with the management team to maximize mining infrastructure growth, optimize financing structures to fund growth, and manage institutional and retail investor relations. Mr. Christie received an Honors Bachelor of Commerce degree from Queen’s University and received the CPA designation while working for PriceWaterhouse Coopers, LLP.

“Please join me in welcoming Mr. Christie to his new role at Digihost as COO,” said Michel Amar. “Having worked closely with Don over the past two years, I am confident that his tenure as a valued member of the company’s Board of Directors, his experience in North American financial markets, and his strong commitment to Digihost will strengthen our team’s ability to continue to capitalize on the exciting growth opportunities available to us in the rapidly evolving cryptocurrency industry.

About Digihost Technology Inc.

Digihost is a growth-oriented blockchain technology company primarily focused on Bitcoin mining. Through its self-mining operations and joint venture agreements, the company is currently hashing at a rate of around 415 PH with plans to expand to a hash rate of 3.6 EH by the end of the year. end of 2022.

For more information, please contact:

Digihost Technology Inc.www.digihost.caMichel Amar, CEO Email: [email protected]

Caution

Trading in the Company’s securities should be considered highly speculative. No stock exchange, securities commission or other regulatory authority has approved or disapproved of 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) accepts responsibility for the adequacy or accuracy of this press release.

Forward-looking statements

Except for statements of historical fact, this press 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 of this press release and are covered by safe harbors under U.S. and Canadian securities laws. Forward-looking information contained in this press release includes information on hashrate and infrastructure expansion, diversification of operations, potential further improvements in profitability and efficiency in mining operations, growth potential long-term goals of the company and the company’s business objectives. Factors that could cause actual results, performance or achievements to differ materially from those described in such forward-looking information include, but are not limited to: the continuing effects of the COVID19 pandemic may have a material adverse effect on the Company’s performance as supply chains are disrupted and prevent the Company from operating its assets; the ability to establish new facilities for cryptocurrency mining purposes; receipt of Public Service Commission approval or other regulatory or Board approvals; the ability to establish new facilities for research and development purposes; a decline in cryptocurrency prices, trading volume or, more generally, the profitability of cryptocurrency mining; the delivery of mining rigs for self-mining and for hosting may not occur in the expected number, or at all, or according to the expected schedule, and the resulting hash power may differ materially from that planned; further improvements in profitability and efficiency may not be realized; the digital currency market; the Company’s ability to successfully mine digital currency on the cloud; the Company may not be able to profitably liquidate its current digital currency inventory, or at all; a decline in digital currency prices could have a material adverse impact on the Company’s operations; digital currency price volatility; and other related risks as more fully described in the Company’s Annual Information Form and other documents disclosed in the Company’s filings on www.sedar.com. The forward-looking information contained in this press 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 press release, the Company has made assumptions about: the current profitability of cryptocurrency mining (including prices and volume of current trading activity); the profitable use of the Company’s assets in the future; 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 consistent with historical prices; and there will be no regulations or laws that prevent the Company from carrying on business. The Company has also assumed that no material events occur outside of the normal course of business for the Company. Although the Company believes that the assumptions inherent in 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 inherent uncertainty of such information. -this. Except as expressly required by applicable securities laws, the Company undertakes no obligation to update or revise forward-looking information, whether as a result of new information, changes in circumstances or future events. or for any other reason.

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