Mr. Michel Amar reports

DIGIHOST REPORTS 45% Y/Y INCREASE IN BITCOIN PRODUCTION AND PROVIDES MINING OPERATIONS UPDATE

Digihost Technology Inc. has released unaudited bitcoin (BTC) production results for the month ended Feb. 28, 2022. All amounts are expressed in United States dollars, unless otherwise indicated.

Year-over-year monthly comparison

The company mined approximately 50.85 BTC in February, 2022, an increase of 15.83 BTC, or 45 per cent, compared with February, 2021. Using the Feb. 28, 2022, and Feb. 28, 2021, closing BTC prices (from CoinDesk), the value of the company's BTC mined in February, 2022, increased by $615,631, or 39 per cent, compared with February, 2021.

Production highlights for February, 2022:

• Mined 50.85 BTC during the month, contributing to total holdings of 737.66 BTC valued at approximately $31.87-million as of Feb. 28, 2022, based on a BTC price of $43,200;
• Total ethereum (ETH) holdings of 1,000.89 ETH valued at approximately $2.9-million as at Feb. 28, 2022, based on an ETH price of $2,900;
• Total digital asset inventory value consisting of BTC and ETH of approximately $34.77-million as of Feb. 28, 2022;
• The company deployed miners during the week of Feb. 28, 2022, expanding its computing power by 20 per cent to approximately 500 petahashes.

Michel Amar, the company's chief executive officer, commented: "At the end of February and into the first week of March, Digihost continued to execute on its strategy of increasing the company's operating capacity by deploying new miners and expanding our hash rate by 20 per cent to approximately 500 petahashes. The company anticipates further expansion of computing power in the months ahead as all bitcoin miners received to date, plus those in transit, are deployed. We are very pleased with the 45-per-cent increase in the number of bitcoins mined in February compared to the same month in 2021 as Digihost continues to expand its operations while being almost completely carbon neutral."

Miner receipt and deployment update

As of Feb. 28, 2022, the company has received 9,000 of its technologically advanced, high-performance M30 bitcoin miners from its 2021 order of 9,900 miners, with the remaining 900 miners currently in transit to Digihost's data centre. Digihost continues to deploy the miners received to date.

About Digihost Technology Inc.

Digihost is a growth-oriented blockchain technology company primarily focused on bitcoin mining. Through its self-mining operations and joint venture agreements, the company is currently hashing at a rate of approximately 500 petahashes.

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