Mr. Michel Amar reports

DIGIHOST REPORTS POSITIVE YEAR OVER YEAR REVENUE GROWTH AND 49% INCREASE IN EBITDA* FOR Q3 2023

Digihost Technology Inc. has provided a summary of the company's unaudited financial results for the third quarter ended Sept. 30, 2023. All amounts are in United States dollars, unless otherwise indicated. The company's unaudited consolidated financial statements, and management's discussion and analysis (MD&A) for the three- and nine-month periods ended Sept. 30, 2023, have been filed and made accessible under the company's continuous disclosure profile on SEDAR+ and are also accessible on the U.S. Securities and Exchange Commission's (SEC) EDGAR website.

Comparative financial highlights for the three-month period ended Sept. 30, 2023:

• Revenue from digital currency mining and sale of energy of $5.4-million reported for the three-month period ended Sept. 30, 2023, compared with $3.7-million for the three-month period ended Sept. 30, 2022, an increase of 46 per cent. The increase in revenue is primarily driven by the period-over-period increase in the price of bitcoin (BTC) and recognition of approximately $1-million due to the sale of energy;
• The company mined approximately 217 BTC for the three-month period ended Sept. 30, 2023, at an average BTC price of approximately $28,091 (calculated from BTC prices per CoinMarketCap), compared with the three-month period ended Sept. 30, 2022, where the company mined approximately 203 BTC at an average price of approximately $21,252 (calculated from BTC prices per CoinMarketCap);
• EBITDA (earnings before interest, taxes, depreciation and amortization) for the three-month period ended Sept. 30, 2023, of $3.6-million, an increase of approximately 49 per cent from the company's Q3 2022 reported EBITDA;
• Net income for three-month period ended Sept. 30, 2023, of $100,000 as compared with a net loss of $1.7-million for the period ended Q3 2022;
• Total assets of $47.3-million as at Sept. 30, 2023;
• Cash and cash equivalents of $3.3-million as at Sept. 30, 2023;
• Property, plant and equipment, consisting primarily of the company's BTC miners and mining infrastructure, of $37-million;
• During Q3, the company spent approximately $1.2-million on capital expenditure and mining infrastructure support equipment. Digihost continues to monitor its capital expenditures closely with self-financing in an effort to avoid equity dilution for its shareholders.

The company achieved significant milestones year-to-date 2023:

• Digihost has acquired approximately 2,000 high-performance BTC miners;
• The company completed an all-cash acquisition of a 60 MW (megawatt) power plant in North Tonawanda, N.Y.;
• The company is currently mining at a rate of approximately one EH (exahash);
• Consistent with management's continuing commitment to minimize equity dilution for its shareholders, the company has continued to monetize a portion of its BTC production to fully finance its energy costs.

At-the-market financing update

On March 4, 2022, the company entered into an offering agreement with H.C. Wainwright & Co. LLC as agent, pursuant to which the company established an at-the-market (ATM) equity program. From the commencement of the ATM program through Sept. 30, 2023, the company issued 386,463 subordinate voting shares in exchange for gross proceeds of $701,316, at an average share price of $1.81, and received net proceeds of $673,855 after paying commissions of $21,040 to the agent and incurring $6,421 of other transaction fees.

During the quarter ended Sept. 30, 2023, the company issued 107,418 subordinate voting shares in exchange for gross proceeds of $240,245, at an average share price of $2.11, and received net proceeds of $231,714 after paying commissions of $7,207 to the agent and incurring $1,324 of other transaction fees.

About Digihost Technology Inc.

Digihost is a growth-oriented technology company focused on the blockchain industry. The company operates from three sites in the United States and, in addition to managing its own operations, provides hosting arrangements at its facilities.

We seek Safe Harbor.