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Digihost Declares Infrastructure Buildout of 55 MW Web site in

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This information launch constitutes a “designated information launch” for the needs of the Firm’s prospectus complement dated March 4, 2022 to its brief kind base shelf prospectus dated February 23, 2022.

TORONTO, Aug. 02, 2022 (GLOBE NEWSWIRE) — Digihost Expertise Inc. (“Digihost” or the “Firm”) (Nasdaq: DGHI; TSXV: DGHI), an progressive U.S. primarily based Bitcoin (“BTC”) mining firm, is happy to supply unaudited comparative BTC manufacturing outcomes for the month ended July 31, 2022, mixed with an operations replace. All financial references are expressed in USD except in any other case indicated.

Manufacturing Highlights for July 2022

  • Mined 64.17 BTC, leading to whole holdings of 220.09 BTC on the finish of July valued at roughly $5.14 million primarily based on a BTC worth of $23,337 as of July 31, 2022.
  • Ethereum (“ETH”) holdings of 1,000.89 ETH on the finish of July valued at roughly $1.68 million primarily based on an ETH worth of $1,681.52 as of July 31, 2022.
  • Whole digital asset stock worth, consisting of BTC and ETH, of roughly $6.82 million as of July 31, 2022. As well as, the Firm held money of roughly $4.5 million and spinoff devices of roughly $500,000 as of July 31, 2022. Money and liquid property as of July 31, 2022 totalled roughly $11.82 million.
  • To keep away from fairness dilution for its shareholders, administration offered a portion of its BTC manufacturing through the month to fund its power prices.
  • The Firm is debt free as of July 31, 2022.
  • To assist the facility wants of the area people, the Firm decreased its general power consumption through the month of July 2022 with its operation working predominantly at off-peak hours.

Yr-Over-Yr Month-to-month Comparability

The Firm mined roughly 13.69 extra BTC in July 2022, in comparison with July 2021, representing a rise of roughly 26.7%.

Determine 1. Yr-over-year Month-to-month BTC Manufacturing

       
       
  Jul-22 Jul-21 MoM Enhance
       
Mined BTC   64.97   51.28   13.69  
Approximate BTC worth $23,337 $41,626 ($18,289 )
Manufacturing Worth $1,516,205 $2,134,581 ($618,376 )
       

 

Yr-Over-Yr YTD Comparability

The Firm mined roughly 160.46 extra BTC on a year-to-date foundation as of July 31 2022, as in comparison with the identical interval ended July 31 2021, representing a rise of roughly 46.7%.

Determine 2. Yr-over-year YTD BTC Manufacturing

       
       
  YTD 2022 YTD 2021 YTD Enhance
       
Mined BTC   503.83   343.37   160.46  
Approximate BTC worth $23,337 $41,626 ($18,289 )
Manufacturing Worth $11,757,881 $14,293,120 ($2,535,239 )
       

 

Alabama Web site Construct-Out

Digihost is happy to announce that it has commenced development and the event of the services build-out in Alabama. The Firm is constructing out the required infrastructure with the purpose of bringing the property to a hashing capability of 28 MW by the top of the third quarter of 2022 and a complete of 55 MW by the top of the primary quarter of 2023.

In assist of its infrastructure growth the Firm will switch a portion of its present mining fleet from New York State to the location in Alabama to permit Digihost to learn from the decrease direct power prices it has negotiated with Alabama Energy, which can result in an general discount in Digihost’s working prices.

Inexperienced Power

Since inception, Digihost’s strategic progress sustainability plan has been the accessing of fresh sources of power whereas additionally being agreeable to on-demand applications with its utility suppliers that enable the Firm to supply pressing energy wants for native communities throughout excessive climate circumstances. The Firm is happy to report that in July 2022, Digihost ran its BTC mining operation primarily at off-peak hours in assist of the power wants of the encircling neighborhoods with over 90% of the power consumed by its operations derived from sources that create zero carbon emissions.

Moreover, through the month of the July, CPower Power Administration was chosen as a High Challenge of the Yr winner by the elite Atmosphere and Power Chief Awards Program for its program, with Digihost. CPower is a pure power options supplier and works in live performance with the Firm to scale back its environmental affect by demand response. Digihost is rewarded on a quarterly foundation for making its website’s electrical load accessible to assist steadiness the grid when known as upon, supporting the broader sustainability commitments of net-zero emissions from electrical energy consumption by 2030 and 100% renewable powered blockchains.

About Digihost

Digihost is a growth-oriented blockchain know-how firm primarily targeted on BTC mining. By means of its self-mining operations and three way partnership agreements, the Firm is presently hashing at a fee of roughly 650 PH/s.

All internet hosting charges and three way partnership revenue sharing are handled as manufacturing prices within the Firm’s consolidated monetary statements.

For additional info, please contact:

Digihost Expertise Inc.
www.digihost.ca
Michel Amar, Chief Government Officer
T: 1-818-280-9758
E-mail: [email protected]

Cautionary Assertion

Buying and selling within the securities of the Firm ought to be thought-about extremely speculative. No inventory trade, securities fee or different regulatory authority has authorized or disapproved the data contained herein. Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts accountability for the adequacy or accuracy of this launch.

Ahead-Wanting Statements

Aside from the statements of historic truth, this information launch incorporates “forward-looking info” and “forward-looking statements” (collectively, “forward-looking info”) which might be primarily based on expectations, estimates and projections as on the date of this information launch and are lined by secure harbors beneath Canadian and United States securities legal guidelines. Ahead-looking info on this information launch contains details about potential additional enhancements to profitability and effectivity throughout mining operations together with, because of the Firm’s growth efforts, potential for the Firm’s long-term progress, and the enterprise targets and aims of the Firm. Components that would trigger precise outcomes to vary materially from these described in such forward-looking info embrace, however aren’t restricted to: future capital wants and uncertainty of extra financing, together with the Firm’s potential to make the most of the Firm’s at-the-market providing program (the “ATM Program”) and the costs at which the Firm could promote securities within the ATM Program, in addition to capital market circumstances basically; share dilution ensuing from the ATM Program and from different fairness issuances; dangers referring to the technique of sustaining and growing Bitcoin holdings and the affect of depreciating Bitcoin costs on working capital; regulatory and different unanticipated points that prohibit us from declaring or paying dividends to our shareholders which might be payable in Bitcoin; continued results of the COVID19 pandemic could have a fabric opposed impact on the Firm’s efficiency as provide chains are disrupted and forestall the Firm from working its property; approval of the Public Service Fee or different regulatory or board approvals being acquired on a well timed foundation, or in any respect; the acquisition of North Tonawanda, New York services closing on well timed foundation, or in any respect; potential to entry extra energy from the native energy grid; a lower in cryptocurrency pricing, quantity of transaction exercise or usually, the profitability of cryptocurrency mining; additional enhancements to profitability and effectivity is probably not realized; the digital forex market; the Firm’s potential to efficiently mine digital forex on the cloud; the Firm could not be capable of profitably liquidate its present digital forex stock, or in any respect; a decline in digital forex costs could have a major damaging affect on the Firm’s operations; the volatility of digital forex costs; and different associated dangers as extra absolutely set out within the Annual Info Type of the Firm and different paperwork disclosed beneath the Firm’s filings at www.sedar.com. The forward-looking info on this information launch displays the present expectations, assumptions and/or beliefs of the Firm primarily based on info presently accessible to the Firm. In reference to the forward-looking info contained on this information launch, the Firm has made assumptions about: the present profitability in mining cryptocurrency (together with pricing and quantity of present transaction exercise); worthwhile use of the Firm’s property going ahead; the Firm’s potential to profitably liquidate its digital forex stock as required; historic costs of digital currencies and the flexibility of the Firm to mine digital currencies on the cloud will likely be in step with historic costs; the flexibility to keep up dependable and economical sources of energy to run its cryptocurrency mining property; the damaging affect of regulatory modifications within the power regimes within the jurisdictions by which the Firm operates; the flexibility to stick to Digihost’s dividend coverage and the timing and quantum of dividends primarily based on, amongst different issues, the Firm’s working outcomes, money stream and monetary situation, Digihost’s present and anticipated capital necessities, and normal enterprise circumstances; and there will likely be no regulation or legislation that may stop the Firm from working its enterprise. The Firm has additionally assumed that no important occasions happen outdoors of the Firm’s regular course of enterprise. Though the Firm believes that the assumptions inherent within the forward-looking info are affordable, forward-looking info just isn’t a assure of future efficiency and accordingly undue reliance shouldn’t be placed on such info because of the inherent uncertainties therein.


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