HOUSTON, May 14, 2024 (GLOBE NEWSWIRE) -- Digihost Technology Inc. ("Digihost" or the "Company") (TSXV:DGHI), an innovative U.S. based blockchain technology and computer infrastructure company, is pleased to provide a summary of the Company's unaudited financial results for the quarter ended March 31, 2024 (all amounts in U.S. dollars, unless otherwise indicated) and a 2024 year-to-date update on its operations. The Company's unaudited consolidated financial statements and management's discussion and analysis ("MD&A") for the three-month period ended March 31, 2024 have been filed and made accessible under the Company's continuous disclosure profile on SEDAR+ at www.sedarplus.ca and also on EDGAR at www.sec.gov/edgar. Michel Amar, Chairman and CEO of Digihost, commented, "The Company is pleased to announce that it achieved its highest ever revenue for a single quarter during Q1 2024, recognizing revenue of $12.9 million. This achievement is due to Digihost's continued focus on diversifying its revenue verticals with established partners. Additionally, the Company is reporting EBITDA* of $8.9 million, representing an increase of 255% over Q1 2023, along with a positive working capital balance. Digihost remains committed to delivering value to its shareholders and targeting markets for expansion that have low-cost, under-utilized renewable energy where the Company can help support local communities." Comparative Financial Highlights for the Three-Month Period Ended March 31, 2024: Revenue of $12.96 million, compared to $4.10 million in the first quarter of 2023, representing an increase of 216%, as the price of Bitcoin ("BTC") increased in comparison to the prior year and the Company diversified its revenue verticals through various colocation agreements and the sale of energy; Net income of $4.84 million, compared to net loss of $9.09 million in Q1 of 2023, representing an increase of 153%; EBITDA* of 8.86 million, an increase of 255% over the first quarter of 2023; Total assets of $41.24 million; Property, plant, and equipment consisting primarily of the Company's Bitcoin miners and mining support infrastructure of $29.48 million; Digital currencies of $2.9 million, representing an increase of 254% over Q1 2023. (U.S.$ in thousands except share and per share data) Three Months Ended   March 31,2024 March 31,2023 Revenue from digital currency mining 6,810   3,809   Revenue from colocation services 1,427   -   Revenue from sale of electricity 3,378   -   Revenue from sale of energy 1,342   295   Cost of sales (8,999 ) (2,686 ) Miner lease and hosting agreement -   (639 ) Depreciation and amortization (3,951 ) (3,223 ) Gross profit (loss) 7   (2,444 ) General and administrative and other expenses (970 ) (924 ) Foreign exchange 1,418