- Digihost Technology (DGHI) is moving ahead with its acquisition of a power plant in New York State
- The Toronto-based company is finalizing closing documentation and anticipates the acquisition will close within the next 30 days
- The 60 MW power plant is located in North Tonawanda, New York
- Once operational, the power plant will provide the company with computing capacity of approximately 1.3 EH
- Digihost will immediately be able to use the power for its digital asset infrastructure set up on property immediately adjacent to the power plant
- The company is aware of legal proceedings challenging the regulatory approval of the sale of the power plant
- Digihost Technology is down 11.56 percent, trading at $1.30 at 9:55 a.m. EST
Digihost Technology (DGHI) is moving ahead with its acquisition of a power plant in New York State.
The Toronto-based blockchain technology company has all state and federal regulatory approvals to complete the acquisition.
The 60 MW power plant is located in North Tonawanda, New York.
The company is finalizing closing documentation with the vendors, and management anticipates that the acquisition will close within the next 30 days.
Once operational, the power plant will provide the company with computing capacity of approximately 1.3 EH. That number is based on an initial power generation run rate for the plant of approximately 50 MW.
Digihost will immediately be able to utilize the power for its digital asset infrastructure, which has already been engineered and set up on property immediately adjacent to the power plant.
Lower natural gas prices will contribute to lower input costs for the company’s blockchain data centre network.
The company’s portfolio of blockchain network infrastructure includes sites in New York, Alabama and North Carolina.
The company is aware of legal proceedings filed on behalf of The Sierra Club and the Clean Air Coalition of Western New York, challenging the regulatory approval of the sale of the power plant.
Digihost Technology is down 11.56 percent, trading at $1.30 at 9:55 a.m. EST.