Digihost Announces Restatement of Previously Issued Financial Statements

MIAMI, March 05, 2025 (GLOBE NEWSWIRE) -- Digihost Technology Inc. (“Digihost” or the “Company”) (Nasdaq / TSXV: DGHI), an innovative energy infrastructure company that develops cutting-edge data centers, today announced that it has filed an amended annual report on Form 20-F for the fiscal year ended December 31, 2023 (the “2023 Annual Report” and, as so amended, the “Amended 2023 Annual Report”) with the U.S. Securities and Exchange Commission (the “SEC”), which contains restated financial statements for the fiscal years ended December 31, 2023 and 2022 (the “Restatement Periods”) and related updates to management’s discussion and analysis for the Restatement Period. In connection with the SEC’s review of the 2023 Annual Report (the “SEC Review”), and in consultation with members of management and the Audit Committee of the Board of Directors, the Company determined that its previously issued consolidated financial statements for the Restatement Periods that were included in the 2023 Annual Report and the related management’s discussion and analysis for the year ended December 31, 2023 were required to be restated to correct a material error in the classification of proceeds derived from the sale of digital assets. Digihost previously categorized proceeds derived from the sale of digital assets as a cash flow from operating activities. In conjunction with the SEC review, it was determined that proceeds from the sale of digital assets should instead be classified as cash flow from investing activities.