Digihost Technology Inc., a leading U.S.-based blockchain technology and infrastructure company, is excited to announce a significant expansion of its Bitcoin mining operations and a pivotal commitment to renewable energy. This initiative underscores the company’s innovative approach to sustainable growth in the blockchain sector.
Strategic Bitcoin Mining Expansion
Digihost has entered into a multi-year hosting agreement with one of the global frontrunners in digital currency mining server manufacturing. This partnership is set to bolster Digihost’s operations with the addition of 4,640 S19 XPs (21.5W/TH) miners, equating to an approximate 14MW of hosting capacity. The company anticipates deploying these state-of-the-art miners ahead of the next Bitcoin halving, aiming to enhance its hash rate by an estimated 700 PH/s, thereby elevating the total hash rate to an impressive 2.4 EH/s.
Michel Amar, the CEO of Digihost, expressed enthusiasm about the agreement: “This transaction not only strengthens our financial standing and cash flow but also expands our mining capabilities through a top-tier digital mining partnership. We remain focused on growing our computing power debt-free and transitioning to the newest generation of miners with minimal equity dilution.”
Community Solar Project in New York
In alignment with its sustainable operation goals, Digihost proudly announces its anchor subscription to a 5MW Community Solar project located in Angola, New York. This initiative produces sufficient clean energy to power over 1,000 homes annually, reinforcing Digihost’s dedication to environmental responsibility and operational cost reduction. A ribbon-cutting ceremony is planned for Q3 of 2024, marking the commencement of solar credits from the project.
Operations Update
Digihost’s operational capacity spans three sites, totaling approximately 90MW of available power, with a current mining hash rate of 2 EH/s. This expansion and the move towards renewable energy sources highlight Digihost’s commitment to efficiency, profitability, and environmental stewardship in the blockchain industry.
Forward-Looking Statements
Digihost continues to explore opportunities for further operational improvement and efficiency across its mining activities. The company’s new initiatives will drive long-term growth and align with the company’s objectives. However, potential investors must be aware that forward-looking statements come with uncertainties and risks, such as market conditions, regulatory changes, and the ongoing impacts of COVID-19. Digihost leads in sustainable energy and blockchain growth with responsible innovation.
This is a designated news release by Digihost Technology Inc. following its prospectus supplement dated March 4, 2022, to its short-form base shelf prospectus dated February 23, 2022. For more detailed risk factors and further information, please refer to the company’s filings available at www.sedarplus.ca.
