On April 6, 2021 Digihost Technology Inc. (“Digihost” or the “Company”) announced that it had entered into subscription agreements with certain institutional investors, for gross proceeds of approximately CAD$25 million in a private placement of its equity securities, comprised of 11,682,243 common shares of the Company (“Shares”) and warrants to purchase up to 11,682,243 common shares (“Warrants”), at a purchase price of CAD$2.14 per Share and associated Warrant.

H.C. Wainwright & Co. is acting as the exclusive placement agent for the private placement.

The net proceeds of the private placement will be used by the Company primarily to acquire additional Bitcoin miners, infrastructure expansion, further reduce energy costs and for working capital purposes.

Digihost Technology Inc. is a growth-oriented blockchain company primarily focused on Bitcoin mining. The Company’s mining facility is located in Buffalo, N.Y., and is equipped with an 18.7MVA 115,000-kilovolt-ampere outdoor substation with an option to increase the power output to 42MVA. The Company is currently mining approximately 1.2 Bitcoins per day, subject to difficulty. Digihost’s strategy is to focus on continually increasing its hashrate with a concurrent reduction in energy costs.

Peterson McVicar LLP acted for Digihost Technology Inc. with a team that included Dennis Peterson and Domenic D’Argento.