TORONTO, June 10, 2021 (GLOBE NEWSWIRE) — Digihost Expertise Inc. (“Digihost” or the “Firm”) (TSXV: DGHI; OTCQB: HSSHF) is happy to announce that the Firm has entered right into a strategic co-mining settlement (the “Settlement”) with Bit Digital USA, Inc. (“BTBT”) (Nasdaq: BTBT). Pursuant to the phrases of the Settlement, the Firm will present sure premises (the “Premises”) to BTBT for the aim of the operation and storage of a 20 MW Bitcoin mining system (the “Miners”) to be delivered by BTBT, and the Firm can even present companies to keep up the Premises for a time period of two years. The collaboration between Digihost and BTBT is predicted to generate a rise in hashrate of roughly 400 PH between the businesses.
Underneath the phrases of the Settlement, Digihost will present energy for the operation of the Miners and also will present administration companies mandatory to keep up 95% uptime on the Miners. In consideration for these companies, after paying Digihost a really aggressive fee for energy, Digihost and BTBT will take part in a revenue sharing association primarily based on a hard and fast distribution method. It’s anticipated that the Miners can be delivered and put in in the course of the fourth quarter of this yr.
Michel Amar, the Firm’s CEO, said: “We’re extraordinarily happy by this strategic collaboration with Bit Digital which, primarily based on present Bitcoin metrics, is predicted to ship vital outcomes by way of the rise in hashrate of 400 PH between the 2 firms. Our enterprise technique continues to be development by way of the growth of our mining infrastructure, vertical integration of low-cost and inexperienced sources of power, strategic partnerships with main firms within the blockchain sector, and geographic diversification in North America to strategically function our enterprise in areas the place minimal or no carbon footprint is generated.”
Bryan Bullett, BTBT’s CEO, said: “We’re extraordinarily happy by this strategic collaboration with Digihost which marks our ongoing growth in North America, as we proceed to transition our mining fleet right here. Our enterprise technique continues to embody development by way of the growth of strategic partnerships with institutional-quality internet hosting suppliers with aligned financial pursuits, to safe environment friendly entry to energy and internet hosting. We sit up for a profitable partnership with Digihost.”
About Digihost Expertise Inc.
Digihost Expertise Inc. is a growth-oriented blockchain expertise firm primarily centered on Bitcoin mining. The Firm’s mining amenities are positioned in Upstate New York, and are geared up with 78.7 MW of low-cost energy with the choice to broaden to 102MW. The Firm is at the moment hashing at a fee of 200PH with potential to broaden to a fee of 3EH upon the completion of the beforehand introduced acquisition of a 60MW energy plant.
For additional data, please contact: