Business

Digihost Technology Inc (OTCMKTS: HSSHF) and Bit Digital Inc (NASDAQ: BTBT) Announces Expansion of Strategic Collaboration

Digihost Technology Inc (OTCMKTS: HSSHF) and Bit Digital Inc (NASDAQ: BTBT) announced that both the businesses have reached an added deliberate co-mining contract.

Agreement to further Surge shared Hashrates by 2 EH

According to the footings of the Arrangement, Digihost will offer definite properties to Bit Digital for the set-up of a 100 MW Bitcoin mining scheme to be transported by Bit Digital for two years. It will also lead to a total increase in hashrate between the two businesses of around 2.4 EH, including the original partnership contract earlier announced on June 10, 2021.

Under the rapports of the Arrangement, Digihost will offer power and organization amenities for the operation of the Miners. Regarding these facilities, after disbursing Digihost, a viable rate for power, Digihost and Bit Digital will partake in profit-sharing prearrangement based on a permanent dispersal principle. As a result, it is projected that the Miners will be transported and connected, opening in January 2022.

Management Commentary

Michel Amar, Digihost’s CEO, stated: “The contract is estimated to transport notable outcomes through the complete upsurge in hashrate of 2.4 EH between the two businesses. Our trade policy endures to be progression through the extension of our mining organization, vertical incorporation of green bases of energy and strategic collaborations with prominent businesses in the blockchain segment, while endeavoring to uphold our emphasis on being an trade principal ESG company.”

Bryan Bullett, Bit Digital’s CEO, specified: “By signing this contract, we consider that we have fortified power and holding adequate to finalize the relocation of our present fleet to North America in full, and extra size to house projected miner acquisitions. As beforehand announced, we forestall noteworthy acquisition action in the coming months, due to spot market displacement in China and our exclusive access to that market.”

Bryan Bullett, added” The contract with Digihost secures a key constituent of triggering this opening, and is projected to permit quick placement of freshly bought miners. We are satisfied to foster our principal affiliation with Digihost, and look onward to sustained achievements together.”

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