Digihost Technology Inc., a blockchain technology and mining enterprise based in the U.S., revealed a significant augmentation of its bitcoin mining capabilities, courtesy of a multi-year hosting contract with a “leading” global provider of digital currency mining equipment.
Digihost Expands Mining Fleet Under Newly Inked Multi-Year Hosting Deal
Digihost (Nasdaq: DGHI; TSXV: DGHI) said the arrangement introduces 4,640 Bitmain-brand S19 XPs to Digihost’s fleet, poised to substantially boost its bitcoin mining efficacy before the forthcoming Bitcoin network halving event. Pursuant to the agreement’s stipulations, Digihost will welcome a $1.8 million deposit and the avant-garde miners, forecasting a rise in its hashrate to 2.4 EH/s.
The announcement arrives amid a period where miners have invested heavily in technological advancements, capacity growth, and procurement of new mining equipment. Michel Amar, Digihost’s CEO, voiced his excitement regarding this stride, underscoring the deal’s harmony with the firm’s expansion goals and its commitment to embracing cutting-edge mining technology.
Amar stated, “We are thrilled to be able to execute on an agreement that enables us to both strengthen our financial and overall cash flow position and increase our mining footprint through a partnership with a top-tier digital mining company.”
Moreover, Digihost has engaged in a 5-megawatt (MW) Community Solar project in Angola, New York. The company said on Monday that the endeavor not only champions the delivery of clean energy to more than 1,000 homes each year but also contributes to the reduction of the company’s energy expenditures. The solar mining project in Angola is slated for a Q3 2024 inauguration.
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