Digihost Announces 309 Bitcoins Held at the End of April 2021
May 05 2021 - 06:00AM
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.caMichel Amar, Chief
Executive Officer Email: 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 Statements
Except 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, 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: 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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