MIAMI, Feb. 03, 2025 (GLOBE NEWSWIRE) — Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq / TSXV: DGHI), an innovative energy infrastructure company that develops cutting-edge data centers, is pleased to provide unaudited comparative Bitcoin (“BTC”) production results for the month ended January 31, 2025, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.
Monthly
Production
Highlights for
January
2025
- On a year over year basis, the Company’s cash, BTC and cash deposits of approximately $12.3 million as of January 31, 2025, as compared to $3.7 million on January 31, 2024 (based on a BTC price of $102,405 as of January 31, 2025 and $42,758 as of January 31, 2024, per CoinMarketCap), represents a 232% increase in its total holdings position balance.
- The Company held cash, BTC and cash deposits of approximately $12.3 million as of January 31, 2025, as compared to $10.0 million on December 31, 2024 (based on a BTC price of $102,405 as of January 31, 2025 and $93,429 as of December 31, 2024, per CoinMarketCap), representing a 23% increase in its total holdings position balance.
- Miners at the Company’s facilities produced approximately 30 BTC during the month between self-mining and hosting agreements, representing a decrease in 17% versus December 2024. This decrease is due to Digihost’s decision to actively participate in load curtailment for approximately seven days due to the high energy costs associated with the weather conditions at the Company’s locations in the month of January. By contributing and performing in these load reduction programs, the Company has seen a reduction in its BTC mining costs, in addition to being able to provide crucial grid reliability to surrounding electric consumers.
- The Company invested approximately $1.2 million in January on capital expenditures, mining infrastructure support equipment, and deposits. This continued significant investment underscores Digihost’s commitment to long-term growth while maintaining a disciplined approach to capital allocation, prioritizing self-funding to minimize equity dilution for shareholders when possible, and still retaining a clean balance sheet with zero debt to bolster the Company’s flexible capital deployment strategies.
Operations Update
Digihost currently operates with approximately 100MW of available power across its three sites and is working towards expansion to 200MW and beyond. The Company plans to fuel this growth using its existing asset portfolio, combined with strategic inorganic expansion through targeted power acquisitions.
As part of its long-term strategy, Digihost remains committed to its three core business pillars:
- Acquiring Power Assets – The Company continues to expand its power infrastructure, ensuring a reliable and scalable energy foundation for its operations.
- Providing a Competitive Platform for Colocation and Self-Mining – By leveraging its infrastructure, Digihost offers cost-effective power solutions for digital asset miners while optimizing internal mining capacity.
- Maximizing the Highest and Best Use of Energy – With a strong focus on high-margin High-Performance Computing (“HPC”) applications, the Company is positioning itself at the forefront of next-generation computing and data processing.
Tier III HPC Data Center Update
The Company is also pleased to provide an update on its Tier III data center conversion in Columbiana, AL. Digihost is currently working with multiple contractors to finalize the existing site plans and is actively collaborating with local municipalities to ensure a smooth permit approval process. The Company remains on track with its development timeline, with an anticipated ~$175m Phase I (22MW), expected to be operational in 2026, and an anticipated ~$265m Phase II (55MW) to be completed in early 2027.
Collaboration with Nano Nuclear Energy
Digihost continues to advance its commitment to sustainability and innovation in energy solutions. In December 2024, the Company formalized a strategic Memorandum of Understanding (“MOU”) with NANO Nuclear Energy to integrate advanced nuclear energy technologies at its 60MW New York power facility. Digihost is committed to achieving net-zero carbon emissions, and its partnership with NANO Nuclear Energy is a key step toward this goal. Through this collaboration, Digihost aims to integrate advanced nuclear energy solutions across its operations, securing a long-term, zero-emission power supply. Beyond the initial MOU, both companies are actively exploring additional opportunities to expand nuclear energy integration, reinforcing Digihost’s desire to be a leader in sustainable digital asset mining.
About
Digihost
Digihost is an innovative energy infrastructure company that develops cutting-edge data centers to drive the expansion of sustainable energy assets.
For further information, please contact:
Michel Amar, Chief Executive Officer
Digihost Technology Inc.
www.digihostpower.com
Digihost Investor Relations
T: 888-474-9222
Email: [email protected]
Cautionary
Statement
Trading 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” and “forward-looking statements”
(collectively,
“forward-looking
information”)
that
are
based
on
expectations,
estimates
and
projections
as
at
the
date of this news release and are covered by safe harbors under Canadian and United States securities laws. 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 the Company’s expansion efforts, potential for the Company’s long-term growth and clean energy strategy, 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: future capital needs and uncertainty of additional financing; share dilution resulting from equity issuances; risks relating to the strategy of maintaining and increasing Bitcoin holdings and the
impact
of
depreciating
Bitcoin
prices
on
working
capital;
effects
on
Bitcoin
prices
as
a
result
of
the
most
recent
Bitcoin
halving; development of
additional facilities and
installation of
infrastructure to
expand operations may
not
be completed on the
timelines anticipated
by
the Company,
or
at
all;
ability
to access
additional
power
from
the
local
power
grid and realize the potential of the clean energy strategy on terms which are economic or at all;
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;
development
of
additional
facilities
to
expand
operations
may
not
be
completed
on
the
timelines anticipated by the Company; ability to access additional power from the local power grid; an increase in natural gas prices may negatively
affect
the
profitability
of
the
Company’s
power
plant;
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.sedarplus.ca
and
www.SEC.gov/EDGAR.
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; the ability to maintain reliable and economical sources of power to run its cryptocurrency
mining
assets;
the
negative
impact
of
regulatory
changes
in
the
energy
regimes
in
the
jurisdictions
in
which
the
Company operates; 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 uncertainties therein. The Company undertakes no obligation to revise or update any forward-looking information other than as required by law.
