Digihost Appoints Chief Renewable Energy Officer to Lead Its DigiGreen Initiative
June 15 2021 - 6:00AM
Digihost Technology Inc. (“
Digihost” or the
“
Company”) (TSXV: DGHI; OTCQB: HSSHF) is pleased
to announce the appointment of Mr. Luke Marchiori as the Company’s
new Chief Renewable Energy Officer (“
CREO”) in an
advisory role, effective June 15, 2021. Mr. Marchiori will be based
out of New York and will oversee the management of the Company’s
DigiGreen initiative, displacing traditional energy supply with
sustainable alternatives as disclosed in the Company’s June 7, 2021
news release.
In addition to his advisement on renewable
energy supply for Digihost, Mr. Marchiori will continue as
Executive Vice President at EnergyMark, LLC, a regional supplier of
electricity, natural gas, renewable energy and power project
developments. Mr. Marchiori sits on the Board of the Clean
Communities of Western New York, an advocacy group promoting the
use of non-petroleum transportation fuels, emphasizing electric
vehicles along with compressed natural gas for fleet vehicles. He
is also a member in the New York Solar Energy Industries
Association, a trade association advocating for the growth in the
use of solar power, such as Community Solar, in New York State. Mr.
Marchiori holds a Bachelor’s degree in Finance & Economics and
an MBA from St. Bonaventure University.
Michel Amar, CEO of the Company, stated: “We are
very pleased to welcome Luke to Digihost’s senior management team,
and we look forward to benefitting from his extensive experience in
the cleantech and renewable energy sector to achieve the objectives
of our DigiGreen initiative. We are proud to be a leader in the
cryptocurrency mining space with our DigiGreen initiative. Over 90%
of the energy consumed in the Company’s Bitcoin mining operations
is from sources that create zero carbon emissions and more than 50%
of the energy consumed by the Company is generated from renewable
sources. The addition of Luke to our team will help us to work
towards further reducing our already very low carbon
footprint.”
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 ability to
expand to a rate of 3EH upon the completion of its 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” and “forward-looking statements”
(collectively, “forward-looking information”) 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 hashrate expansion, diversification of
operations, 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, performance or
achievements 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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