Digihost Announces Appointment of New Chief Financial Officer
April 29 2021 - 6:00AM
Digihost Technology Inc. (“
Digihost” or the
“
Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased
to announce that it has appointed Paul Ciullo as the new Chief
Financial Officer (“
CFO”), effective April 29,
2021. Mr. Ciullo will be based out of New York and will oversee all
accounting and finance functions, while providing strategic
recommendations that ensure all financial solutions support the
Company’s evolving growth strategy and vision.
Mr. Ciullo has a diverse professional background
and specialized in financial reporting and project management
during his time spent working in senior corporate finance and
accounting positions for various Fortune 500 companies. Mr. Ciullo
is a CPA who obtained a Bachelor’s of Science in Accounting from
the State University of New York College at Geneseo and an MBA from
Pennsylvania State University.
Michel Amar, CEO of the Company, stated: “We are
thrilled to welcome Paul to the Digihost senior management team.
The addition of Paul as CFO and his depth of corporate and capital
markets experience will contribute greatly to the Company’s plans
for growth and to the Company as a whole.”
Mr. Ciullo will replace Ms. Cindy Davis as CFO
of the Company. Mr. Amar and the Board would like to thank Ms.
Davis for her continuous hard work and endless contributions to
Digihost over the past two years.
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 190PH 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.caMichel Amar, Chief Executive
Officer T: 1-818-280-9758Email: michel@digihost.ca
Cautionary StatementTrading 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.
Forward-Looking
StatementsExcept for the statements of historical fact,
this news release contains “forward-looking information” within the
meaning of the applicable Canadian securities legislation that is
based on expectations, estimates and projections as at the date of
this news release. “Forward-looking information” in this news
release includes information about potential further improvements
to profitability and efficiency across mining operations including
as a result of acquisitions of equipment and infrastructure,
potential for the Company’s long-term growth, and the business
goals and objectives of the Company. Factors that could cause
actual results to differ materially from those described in such
forward-looking information include, but are not limited to: the
ability to obtain regulatory approval for and complete acquisitions
of equipment and infrastructure on the terms as announced or at
all; the ability to successfully integrate the acquisitions of
equipment and infrastructure on an economic basis or at all;
continued effects of the COVID19 pandemic may have a material
adverse effect on the Company’s performance as supply chains are
disrupted and prevent the Company from operating its assets; a
decrease in cryptocurrency pricing, volume of transaction activity
or generally, the profitability of cryptocurrency mining; further
improvements to profitability and efficiency may not be realized;
the digital currency market; the Company’s ability to successfully
mine digital currency on the cloud; the Company may not be able to
profitably liquidate its current digital currency inventory, or at
all; a decline in digital currency prices may have a significant
negative impact on the Company’s operations; the volatility of
digital currency prices; and other related risks as more fully set
out in the Annual Information Form of the Company and other
documents disclosed under the Company’s filings at www.sedar.com.
The forward-looking information in this news release reflects the
current expectations, assumptions and/or beliefs of the Company
based on information currently available to the Company. In
connection with the forward-looking information contained in this
news release, the Company has made assumptions about: the current
profitability in mining cryptocurrency (including pricing and
volume of current transaction activity); profitable use of the
Company’s assets going forward; the Company’s ability to profitably
liquidate its digital currency inventory as required; historical
prices of digital currencies and the ability of the Company to mine
digital currencies on the cloud will be consistent with historical
prices; and there will be no regulation or law that will prevent
the Company from operating its business. The Company has also
assumed that no significant events occur outside of the Company's
normal course of business. Although the Company believes that the
assumptions inherent in the forward-looking information are
reasonable, forward-looking information is not a guarantee of
future performance and accordingly undue reliance should not be put
on such information due to the inherent uncertainty therein.
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