Mr. Michel Amar reports

DIGIHOST ANNOUNCES 60% MONTH-OVER-MONTH INCREASE IN CASH AND CRYPTO POSITION AND PROVIDES MARCH 2024 PRODUCTION UPDATE

Digihost Technology Inc. has provided unaudited comparative bitcoin production results for the month ended March 31, 2024, combined with an operations update. All monetary references are expressed in U.S. dollars unless otherwise indicated.

Monthly production highlights for March, 2024:

• The company held cash, bitcoin and cash deposits of approximately $6.2-million as of March 31, 2024 (based on a bitcoin price of $71,200 as of March 31, 2024, per CoinMarketCap), as compared with $3.9-million as of Jan. 31, 2024 (based on a bitcoin price of $61,198 as of Feb. 29, 2024, per CoinMarketCap), representing an increase over the previous month of approximately 60 per cent.
• The increase in the company's ending cash, bitcoin and cash deposits position over the previous month is partially due to the execution of a multiyear hosting agreement with one of the world's leading manufacturers of digital currency mining servers that it announced on March 5, 2024. Under the executed agreement, Digihost received an upfront deposit along with 4,640 S19 XPs (21.5 watts per terahash), which equates to approximately 14 megawatts of hosting. The company plans to deploy these next-generation, highly energy-efficient and high performance miners prior to the next bitcoin halving. The deployment will result in an expected hash rate increase of approximately 700 petahashes per second, bringing Digihost's total hash rate to 2.4 exahashes per second.
• The company mined approximately 91 bitcoin during the month of March, representing a decrease of daily bitcoin mined during the month decrease of 2 per cent compared with February, 2024, as overall bitcoin difficulty increased by approximately 5 per cent during the month due to the continued rise in prices of certain cryptocurrencies during the month of March. Despite the increase in mining difficulty, the company's ending bitcoin position increased over the previous month by approximately $1.4-million.
• During the period, the company paid off in the full the remaining balance owed on a bitcoin loan payable.
• The company spent approximately $200,000 on capital expenditures and mining infrastructure support equipment. Digihost continues to monitor its capital expenditures closely with self-financing to limit equity dilution for its shareholders.
• Consistent with management's continuing commitment to minimize equity dilution for its shareholders, the company has continued to monetize a portion of its bitcoin production to fully finance its energy costs.

Operations update

Presently, Digihost's consolidated operating capacity across its three sites represents approximately 90 megawatts of available power and is mining at a hash rate of two exahashes per second.

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.