Consistent with management's ongoing commitment to minimize equity dilution for its shareholders, the Company has continued to monetize a portion of its BTC production to fully fund its energy costs. Digihost is a growth-oriented technology company focused on the blockchain industry. The Company operates from three sites in the U.S. and, in addition to managing its own operations, provides hosting arrangements at its facilities. Cautionary Statement Except for the statements of historical fact, this news re ...

Between self-mining and hosting agreements, miners at the Company's facilities produced approximately 45 BTC during the month of June, with Digihost continuing to seek strategic opportunities to diversify its revenue streams as exemplified by the new agreement entered into in June in which the Company is integrating 11,000 state-of-the-art S21 miners (200/TH) (the "S21 Miners") into its facilities, translating to approximately 44MW of shared revenues. The deployment of these next-generation, energy-efficien ...

HOUSTON, June 11, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (Nasdaq / TSXV: DGHI), a cutting-edge U.S.-based blockchain technology and computer infrastructure company, is thrilled to announce it has entered into a transformative profit-sharing agreement with a strategic partner. This collaboration will harness the Company's robust infrastructure to accommodate new digital currency mining servers. All financial references herein are in USD unless stated otherwise. The de ...

HOUSTON, May 31, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (Nasdaq / TSXV: DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide unaudited comparative Bitcoin ("BTC") production results for the month ended May 31, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated. Monthly Production Highlights for May 2024 The Company held cash, BTC and cash deposit ...

HOUSTON, May 31, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (Nasdaq / TSXV: DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide unaudited comparative Bitcoin ("BTC") production results for the month ended May 31, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated. Monthly Production Highlights for May 2024 The Company held cash, BTC and cash deposit ...

[Condensed Interim Consolidated Financial Statements](index=1&type=section&id=Condensed%20Interim%20Consolidated%20Financial%20Statements) [Condensed Interim Consolidated Statements of Financial Position](index=2&type=section&id=Condensed%20Interim%20Consolidated%20Statements%20of%20Financial%20Position) As of March 31, 2024, Digihost's total assets stood at $41.2 million, a slight decrease from $42.1 million at year-end 2023, primarily due to depreciation of property, plant, and equipment. Total liabilities saw a significant reduction to $8.2 million from $12.9 million, largely driven by a decrease in warrant liabilities. Consequently, total shareholders' equity increased to $33.0 million from $29.2 million, and the company shifted from a working capital deficiency to a positive working capital position Consolidated Statements of Financial Position (Unaudited) | | As at March 31, 2024 (USD) | As at December 31, 2023 (USD) | | :--- | :--- | :--- | | **Total current assets** | $4,949,747 | $2,199,751 | | **Total assets** | **$41,236,252** | **$42,147,347** | | **Total current liabilities** | $4,755,598 | $5,264,102 | | **Total liabilities** | **$8,200,032** | **$12,900,608** | | **Total shareholders' equity** | **$33,036,220** | **$29,246,739** | - The company's cash position increased significantly to **$1,313,665** from **$341,273** at the end of 2023[3](index=3&type=chunk) - The value of digital currencies held by the company rose sharply to **$2,910,304** from **$822,884** at year-end 2023[3](index=3&type=chunk) - Warrant liabilities decreased substantially from **$5,456,749** to **$1,286,952**, contributing to the overall reduction in total liabilities[3](index=3&type=chunk) [Condensed Interim Consolidated Statements of Comprehensive Income (Loss)](index=3&type=section&id=Condensed%20Interim%20Consolidated%20Statements%20of%20Comprehensive%20Income%20%28Loss%29) For the three months ended March 31, 2024, the company reported a significant turnaround, posting a net income of $4.84 million, compared to a net loss of $9.09 million in the same period of 2023. This was driven by a substantial increase in total revenue to $13.0 million from $4.1 million year-over-year, and a $4.06 million gain from the revaluation of warrant liabilities. Basic and diluted earnings per share were $0.17, compared to a loss of ($0.32) in Q1 2023 Key Income Statement Figures (Three Months Ended March 31) | Metric | 2024 (USD) | 2023 (USD) | | :--- | :--- | :--- | | **Total revenue** | **$12,958,319** | **$4,104,347** | | Gross profit (loss) | $7,186 | ($2,443,747) | | Operating income (loss) | $846,869 | ($3,316,327) | | Revaluation of warrant liabilities | $4,057,770 | ($5,617,304) | | **Net income (loss) for the period** | **$4,844,148** | **($9,093,039)** | | Basic income (loss) per share | $0.17 | ($0.32) | | Diluted income (loss) per share | $0.17 | ($0.32) | - Revenue from digital currency mining increased to **$6.8 million** from **$3.8 million** in Q1 2023. The company also generated new revenue streams from colocation services (**$1.4 million**) and sale of electricity (**$3.4 million**) which were not present in the prior-year period[4](index=4&type=chunk) [Condensed Interim Consolidated Statements of Cash Flows](index=4&type=section&id=Condensed%20Interim%20Consolidated%20Statements%20of%20Cash%20Flows) In Q1 2024, net cash provided by operating activities was $1.5 million, a decrease from $3.0 million in Q1 2023. There were no investing activities during the quarter, compared to a net cash use of $4.9 million in the prior year period which included a business combination. Financing activities resulted in a net cash outflow of $0.5 million. The company's cash balance increased by $0.97 million during the quarter, ending at $1.31 million Cash Flow Summary (Three Months Ended March 31) | Activity | 2024 (USD) | 2023 (USD) | | :--- | :--- | :--- | | Net cash provided by operating activities | $1,503,880 | $3,020,130 | | Net cash used in investing activities | - | ($4,869,470) | | Net cash (used in) provided by financing activities | ($531,488) | $820,557 | | **Net change in cash** | **$972,392** | **($1,028,783)** | | Cash, beginning of period | $341,273 | $1,850,622 | | **Cash, end of period** | **$1,313,665** | **$821,839** | [Condensed Interim Consolidated Statement of Changes in Shareholders' Equity](index=5&type=section&id=Condensed%20Interim%20Consolidated%20Statement%20of%20Changes%20in%20Shareholders%27%20Equity) Shareholders' equity increased from $29.2 million at the end of 2023 to $33.0 million as of March 31, 2024. The growth was primarily driven by the net income of $4.84 million for the period, which was partially offset by a negative foreign currency translation adjustment of $1.31 million Reconciliation of Shareholders' Equity (Q1 2024) | Description | Amount (USD) | | :--- | :--- | | Balance, December 31, 2023 | $29,246,739 | | Net income for the period | $4,844,148 | | Foreign currency translation adjustment | ($1,306,385) | | Share based compensation | $246,261 | | Shares issued for cash & other | $5,457 | | **Balance, March 31, 2024** | **$33,036,220** | [Notes to Condensed Interim Consolidated Financial Statements](index=7&type=section&id=Notes%20to%20Condensed%20Interim%20Consolidated%20Financial%20Statements) [Note 1: Nature of operations and going concern](index=7&type=section&id=1.%20Nature%20of%20operations%20and%20going%20concern) Digihost operates as a blockchain technology company focused on cryptocurrency mining and energy supply via a power plant acquisition. Despite achieving a positive working capital of $194,149, management has identified material uncertainties that cast significant doubt on the company's ability to continue as a going concern, as current working capital is insufficient for its requirements and growth initiatives - The company's business includes both cryptocurrency mining and supplying energy through its acquired power plant[9](index=9&type=chunk) - A material uncertainty exists regarding the Company's ability to continue as a going concern. This is due to insufficient working capital to meet its requirements, despite the working capital position improving to **$194,149** from a deficiency of **$3,064,351** at the end of 2023[12](index=12&type=chunk)[13](index=13&type=chunk) [Note 2: Material accounting policies](index=7&type=section&id=2.%20Material%20accounting%20policies) The financial statements are prepared in accordance with IFRS 34 for interim reporting. The note highlights significant management judgments and estimates, including the recognition of income from digital currency mining based on the fair value of coins received, the determination of lease borrowing rates, and the assessment of going concern. Key estimates involve the useful lives of mining equipment and the valuation of volatile digital currencies - The financial statements have been prepared in accordance with International Accounting Standard 34 - Interim Financial Reporting[14](index=14&type=chunk) - A significant judgment is the accounting for digital currency mining income, which is measured at the fair value of the coins received at the time of mining and re-measured at each reporting date[17](index=17&type=chunk)[18](index=18&type=chunk) - Significant estimates include the valuation of digital currencies, which are highly volatile, and the useful lives of property, plant, and equipment like data miners[23](index=23&type=chunk)[24](index=24&type=chunk) [Note 3: Digital currencies](index=10&type=section&id=3.%20Digital%20currencies) The company's digital currency holdings consist solely of Bitcoin. The value of these holdings increased from $822,884 at year-end 2023 to $2,910,304 at the end of Q1 2024. This was due to mining 129 new Bitcoins and a revaluation gain of $247,464, as the price of Bitcoin rose to $71,306 by March 31, 2024 Continuity of Digital Currencies (Bitcoin) | Description | Number of Bitcoin | Amount (USD) | | :--- | :--- | :--- | | Balance, December 31, 2023 | 19 | $822,884 | | Bitcoin mined for Digihost | 129 | $6,810,389 | | Digital currencies traded for cash | (113) | ($5,681,325) | | Revaluation adjustment | - | $247,464 | | Other movements | (3) | $112,870 | | **Balance, March 31, 2024** | **40** | **$2,910,304** | - The revaluation gain of **$247,464** was based on a Bitcoin price of **$71,306** as at March 31, 2024, compared to **$42,244** at December 31, 2023[26](index=26&type=chunk) [Note 6: Property, plant and equipment](index=12&type=section&id=6.%20Property%2C%20plant%20and%20equipment) The net carrying value of property, plant, and equipment (PP&E) decreased to $29.5 million from $33.4 million at the end of 2023. The reduction was primarily due to a depreciation charge of $3.9 million for the quarter, with no new additions or disposals PP&E Net Carrying Value | | As at March 31, 2024 (USD) | As at December 31, 2023 (USD) | | :--- | :--- | :--- | | **Net carrying value** | **$29,480,730** | **$33,386,684** | - The company recorded a depreciation expense of **$3,905,954** for its PP&E during the three months ended March 31, 2024[33](index=33&type=chunk) [Note 11: Loans payable](index=14&type=section&id=11.%20Loans%20payable) Total loans payable decreased from $610,340 at year-end 2023 to $278,065 at the end of Q1 2024. This was mainly due to the full repayment of a loan from Doge Capital LLC, a company controlled by the CEO, which was originally for the value of 30 Bitcoins and repaid with 36 Bitcoins over 12 months - A loan from Doge Capital LLC, a company controlled by the CEO, was fully repaid as of March 31, 2024. The loan was for the value of **30 Bitcoins** (**$691,500**) and was repaid with **36 Bitcoins** over 12 months[42](index=42&type=chunk) [Note 13: Warrant liabilities](index=15&type=section&id=13.%20Warrant%20liabilities) Warrant liabilities decreased significantly from $5.46 million to $1.29 million during Q1 2024. The reduction was primarily driven by a positive revaluation gain of $4.06 million, which was recognized in the income statement. Additionally, 1,872,659 warrants expired during the period Change in Warrant Liabilities | Description | Number of warrants | Amount (USD) | | :--- | :--- | :--- | | Balance, December 31, 2023 | 9,098,514 | $5,456,749 | | Warrants expired | (1,872,659) | - | | Revaluation of warrant liabilities | - | ($4,057,770) | | Foreign currency translation | - | ($112,027) | | **Balance, March 31, 2024** | **7,225,855** | **$1,286,952** | [Note 16: Stock options and restricted share units](index=18&type=section&id=16.%20Stock%20options%20and%20restricted%20share%20units) The company granted 1,086,000 Restricted Share Units (RSUs) to officers, directors, employees, and advisors during Q1 2024, with a grant date fair value of $2.28 million. These RSUs vest in thirds over three years. Share-based compensation expense for RSUs in the quarter was $246,261. The number of outstanding stock options remained unchanged - In Q1 2024, the company granted **1,086,000 RSUs** to officers, directors, employees, and advisors with a total fair value of **$2,275,613**. These RSUs vest over a three-year period[59](index=59&type=chunk) - Share-based compensation expense recorded for RSUs was **$246,261** for the three months ended March 31, 2024, compared to **$401,496** in the prior-year period[59](index=59&type=chunk) [Note 17: Income (loss) per share](index=19&type=section&id=17.%20Income%20%28loss%29%20per%20share) For the first quarter of 2024, the company reported basic and diluted income per share of $0.17. This marks a significant improvement from the same period in 2023, which saw a basic and diluted loss per share of ($0.32) Income (Loss) Per Share | | Three Months Ended March 31, 2024 (USD) | Three Months Ended March 31, 2023 (USD) | | :--- | :--- | :--- | | Net income (loss) for the period | $4,844,148 | ($9,093,039) | | Weighted average number of shares | 29,245,155 | 28,315,111 | | **Net income (loss) per share - basic and diluted** | **$0.17** | **($0.32)** | [Note 21: Segmented reporting](index=21&type=section&id=21.%20Segmented%20reporting) The company operates across three segments: cryptocurrency mining, sales of energy, and colocation services. For Q1 2024, the sales of energy segment generated the highest gross profit at $1.76 million. The cryptocurrency mining segment reported a gross loss of $2.08 million. Geographically, all of the company's assets are located in the United States Segment Performance (Three Months Ended March 31, 2024) | Segment | Revenue (USD) | Cost of Revenue (USD) | Depreciation & Amortization (USD) | Gross Profit (Loss) (USD) | | :--- | :--- | :--- | :--- | :--- | | Cryptocurrency mining | $4,880,563 | ($3,428,616) | ($3,623,804) | ($2,078,768) | | Sales of energy | $6,650,825 | ($4,225,676) | ($327,447) | $1,756,275 | | Colocation services | $1,426,931 | ($1,345,590) | - | $329,679 | | **Total** | **$12,958,319** | **($8,999,882)** | **($3,951,251)** | **$7,186** | - As of March 31, 2024, all of the company's total assets of **$41,236,252** were located in the United States[68](index=68&type=chunk) [Note 23: Financial instruments and risk management](index=22&type=section&id=23.%20Financial%20instruments%20and%20risk%20management) The company identifies its primary financial risks as credit risk, liquidity risk, foreign currency risk, and digital currency risk. The fair value of most financial instruments approximates their carrying value. The company actively manages liquidity risk through cash projections. A key market risk is the volatility of digital currency prices; a 10% change in the price of Bitcoin would impact the company's asset value by $291,030 as of March 31, 2024 - The company manages liquidity risk by maintaining cash balances and regularly updating cash projections to account for business changes and fluctuations in digital currency prices[72](index=72&type=chunk) - The company is exposed to significant digital currency risk due to price volatility. A hypothetical 10% increase or decrease in the market price of Bitcoin would result in a corresponding asset value change of **$291,030** as of March 31, 2024[76](index=76&type=chunk)[78](index=78&type=chunk)

HOUSTON, May 14, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (TSXV:DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide a summary of the Company's unaudited financial results for the quarter ended March 31, 2024 (all amounts in U.S. dollars, unless otherwise indicated) and a 2024 year-to-date update on its operations. The Company's unaudited consolidated financial statements and management's discussion and analys ...

HOUSTON, May 10, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (TSXV:DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, plans to announce its financial results for the quarter ended March 31, 2024 on May 14, 2024. In addition to its Q1 2024 financial results, the Company will also provide an update on its operations at that time. Operations Update Presently, Digihost's consolidated operating capacity across its three sites represents ...

HOUSTON, May 01, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (NASDAQ:DGHI, TSXV:DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide unaudited comparative Bitcoin ("BTC") production results for the month ended April 30, 2024, combined with an operations update. All monetary references are expressed in USD unless otherwise indicated. Michel Amar, Chairman and CEO of Digihost, commented, "The Company is pleased to ...

HOUSTON, April 03, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (NASDAQ:DGHI, TSXV:DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide a summary of the Company's audited financial results for the year ended December 31, 2023 (all amounts in U.S. dollars, unless otherwise indicated), and a 2024 year-to-date update on operations. The Company's audited consolidated financial statements and management's discussion an ...