MIAMI, March 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 February 28, 2025, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated.
Monthly
Production
Highlights for
February
2025
- The Company recognized a record amount of gross energy and power revenue of approximately $2.2 million in February 2025 through the provision of capacity to market customers, representing a 633% increase in gross energy and power revenue over January 2025. The net profit from energy and power sales of approximately $690,000 achieved in February 2025 will be utilized by Digihost to fund operations.
- Miners at the Company’s facilities produced approximately 30 BTC during the month between self-mining and hosting agreements, which was in line with the monthly production of January 2025.
- The split of revenues for the month of February 2025, being approximately 53% from mining and 47% from energy sales, demonstrates Digihost’s continued dedication to diversifying its revenue verticals when appropriate.
- The Company’s February 2025 revenue of approximately $2.7 million from mining (based on a BTC price of $84,373 as of February 28, 2025, per CoinMarketCap) and approximately $2.2 million from energy sales, for aggregate total revenue of $4.7 million, represents an increase in monthly revenue of approximately 38% from January 2025.
- On a year over year basis, the Company’s cash, BTC and cash deposits of approximately $10.1 million as of February 28, 2025, as compared to $3.9 million on February 29, 2024 (based on a BTC price of $84,373 as of February 28, 2025 and $61,198 as of February 29, 2024, per CoinMarketCap), represents a 159% increase in its total holdings position balance.
- The Company held cash, BTC and cash deposits of approximately $10.1 million as of February 28, 2025, as compared to $12.3 million on January 31, 2025 (based on a BTC price of $84,373 as of February 28, 2025, and $102,405 as of January 31, 2025, per CoinMarketCap). The decrease in the holdings on a month-over-month basis was due in part to the approximate 20% decline in the price of BTC along with the investment outlays described below.
- The Company apportioned approximately $2.5 million in February 2025 on capital expenditures, mining infrastructure support equipment, deposits and required payments to ensure carbon compliance. 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, while still retaining a clean balance sheet with zero long-term 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.
Tier III HPC Data Center Update
Earlier this month, the Company announced the formation of US Data Centers, Inc. (“US Data Centers”), a wholly-owned subsidiary of the Company which will be dedicated to the development of high-performance computing (“HPC”) and artificial intelligence (“AI”)-focused data centers.
With the launch of US Data Centers, Digihost is creating a dedicated platform focused entirely on delivering AI and HPC solutions, ensuring purpose-built infrastructure for the next generation of computing. As its first major initiative, US Data Centers plans to lead the transformation of the Company’s existing site in Columbiana, Alabama into a state-of-the-art Tier 3 data center designed to support next-generation AI and HPC workloads. The Company plans to break ground on this strategy in Q2 2025.
Director Appointment
The Company is also pleased to announce the appointment of Dennis Elsenbeck to the board of directors of the Company (the “Board”), effective February 27, 2025. Mr. Elsenbeck fills a vacancy created by the resignation of Zhichao Li from the Board on February 10, 2025. The Company wishes to express its appreciation to Ms. Li for her contributions to the Company over the years as a member of the Board and the audit committee of the Board. Mr. Elsenbeck will replace Ms. Li as a member of the audit committee.
Mr. Elsenbeck is the principal owner of ElsEnergy LLC and brings over 30 years of experience and expertise in energy-related industries. He also holds the position as Head of Energy and Sustainability in an upstate New York law firm and was a former Director at National Grid’s US Operations, an electric and natural gas transmission and distribution utility.
Michel Amar, CEO of Digihost, announced, “We are very pleased to have Mr. Elsenbeck join Digihost’s board of directors. Dennis’ extensive energy industry expertise will be a great benefit to Digihost and its strategic efforts.”
The Company also advises that it has granted Mr. Elsenbeck 10,000 restricted stock units (“RSUs”), with each RSU entitling the holder to acquire one subordinate voting share of the Company on vesting. The RSUs are scheduled to vest in three equal tranches, on February 27, 2026, 2027 and 2028, subject to the terms and conditions of the Company’s Restricted Stock Unit Plan. The grant of the RSUs is subject to the approval of the TSX Venture Exchange.
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.
