news TORONTO, May 05, 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 April 2021 by 37.50 BTC, bringing the Company’s total balance to 309 BTC held. The total BTC balance also includes approximately 13 BTC received as proceeds for the sale of older generation unutilized miners. Based on an approximate current BTC price of US$55,000, the total value of BTC in the Company’s possession is US$16,995,000. During the first four months of 2021, Digihost mined a total of 142.76 BTC, broken down by month as follows:
| January 2021 | 33.70 BTC |
| February 2021 | 35.02 BTC |
| March 2021 | 36.54 BTC |
| April 2021 | 37.50 BTC |
At the end of April 2021, the Company was mining BTC at a hashrate of approximately 200PH and at an all-in cost of approximately US$12,000 per BTC for the month of April.
Michel Amar, the Company’s CEO, stated: “We are extremely pleased to report that Digihost has consistently increased the rate of Bitcoin output month-over-month through increasing hashrates and operational efficiencies. We look forward to further increasing the Company’s hashrate during the month of May, once all 700 BTC miners that were acquired in the month of March are fully deployed. Having recently raised a significant amount of capital, combined with our inventory of 309 Bitcoins, Digihost has the liquidity to allow us to capitalize on opportunities and execute on our 2021 plans that will significantly expand our Bitcoin mining operations through the acquisition of new miners and the continued growth of Digihost’s hashing capabilities, thereby creating increased value for our shareholders.”
About Digihost Technology Inc.
Digihost Technology Inc. is a growth-oriented blockchain technology company primarily focused on Bitcoin mining. The Company's mining facilities are located in Upstate New York, and are equipped with 78.7 MW of low-cost power with the option to expand to 102MW. The Company is currently hashing at a rate of 200PH with potential to expand to a rate of 3EH upon the completion of the previously announced acquisition of a 60MW power plant.
For further information, please contact:
Digihost Technology Inc.
www.digihost.ca
Michel Amar, Chief Executive Officer
Email: michel@digihost.ca