Digihost Comments on Recent Market Activity ORONTO, March 05, 2021 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (TSXV: DGHI; OTCQB: HSSHF) is issuing this press release in response to recent market activity and the resulting volatility in its share price. Generally, the Company’s policy is to not comment on its stock price or trading activity unless specifically required to do so by the regulators. However, given the recent volatility and the inquiries made by investors, the Company would like to confirm, and reassure the marketplace, that all material information about the Company’s operations has been disclosed.
Michel Amar, the Company’s CEO stated: “The fundamentals of our Company and its operations continue to be strong. Digihost is well capitalized and, with the exception of the non-current portion of premises leases, the Company continues to operate without any long-term commercial debt. These key attributes, coupled together with the recently reported Bitcoin balance of 219.72 held by the Company, puts Digihost in a position to consider and take advantage of new opportunities as they present themselves, including the expansion of its productive asset base of state-of-the-art next generation cryptocurrency miners; securing additional access to clean and sustainable low cost sources of energy, as and when the Company’s operations expand; attracting and retaining best-in-class talent for our highly efficient Bitcoin mining operations; and, amongst other things, staying focused on creating long-term shareholder value.”
The Company recently reported that during the shorter month of February 2021, a total of 35.02 Bitcoin (“BTC”) were mined, whereas as during the previous month of January 2021, a total of 33.7 BTC were mined, representing an increase of approximately 4% month-over-month. The Company had further reported that during the same comparative period, its hashrate increased to approximately 189 Petahash at the end of February 2021, compared to 184 Petahash at the end of the preceding month.
Michel Amar continued to state: “The recent announcement of our increased Bitcoin output demonstrates the strength of our team and the efficiency of our Bitcoin mining infrastructure. Our vision for continued growth in the blockchain sector and cryptocurrency marketplace has not waivered and we remain focused on being a leader in this rapidly expanding sector. As CEO of the Company, I am committed to align myself with the goals and vision of our Company, which was recently demonstrated by my purchase of the Company’s shares for proceeds of $3.344 million.”
About Digihost Technology Inc.
Digihost Technology Inc. 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 mining 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:
Digihost Technology Inc.
www.digihost.ca
Michel Amar, Chief Executive Officer
Email: michel@digihost.ca