TORONTO, March 04, 2021 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased to announce that the Company has increased its mined Bitcoin (“BTC”) holdings during the month of February 2021 by 35.02 BTC, bringing the Company’s mined BTC balance to 218.72. The total BTC balance held by the Company as of February 28, 2021 is 219.72, which includes one BTC received as part of the $4,000,000 proceeds from the closing of the private placement announced on February 19, 2021. Based on an approximate current BTC price of US$51,000, the total value of BTC in the Company’s possession is approximately US$11,206,000.
Digihost is also pleased to report that as of February 28th, 2021, the Company has increased its hash rate to approximately 189 Petahash from a hash rate of 184 Petahash on January 31st, 2021. Management believes that with its ongoing efforts to increase its hash rate, Digihost is well-positioned to maintain its strong BTC mining operations while the Company continues to execute on its strategy to expand its business operations throughout 2021 and beyond.
Michel Amar, the Company’s CEO, stated: “We are extremely excited by the results of our Bitcoin mining operations at our highly efficient mining facilities and we are also very encouraged by the general strength of the blockchain sector and cryptocurrency marketplace. During the shorter month of February, we increased our Bitcoin mining output by approximately 3% over January. Also, the increase in the Company’s mining hash rate during the month demonstrates the optimization of our Bitcoin mining infrastructure and with that, coupled with the strength in Bitcoin, we continue to provide exceptional value and growth for our shareholders. Our entire team remains focused on and committed to value creation through operational efficiencies and continued investment in, and expansion of, our productive asset base.”
About Digihost Technology Inc.
Digihost is a growth-oriented blockchain company primarily focused on Bitcoin mining. The Company’s mining facility is located in Buffalo, N.Y., and is equipped with an 18.7MVA 115,000-kilovolt-ampere outdoor substation with an option to increase the power output to 42MVA. The Company is currently hashing approximately 1.2 Bitcoins per day, subject to difficulty. Digihost’s strategy is to focus on continually increasing its hashrate with a concurrent reduction in energy costs.
For further information, please contact:
Trading in the securities of the Company 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) accepts responsibility for the adequacy or accuracy of this release.