Benzinga | Jun 10, 2021 10:14AM EDT

Digihost Partners With Bit Digital To Drive Hash Rates By 400 PH

* Digihost Technology Inc (OTC:HSSHF) inked an agreement to provide certain premises to Bit Digital Inc (NASDAQ:BTBT) to operate and store a 20 MW Bitcoin mining system to be delivered by Bit Digital. Digihost Technology will also provide services to maintain the premises for a term of two years.

* The collaboration is estimated to accelerate the hash rate to 400 PH between the companies.

* Digihost will provide power for the mining system and management services operation to maintain 95% uptime on the system for an undisclosed sum.

* Digihost and BTBT will participate in an undisclosed profit-sharing arrangement based on a fixed distribution formula after deducting the amount due to the aforementioned mining system. The mining system is estimated to be delivered and installed during the Q4 of 2021.

* Price action: BTBT shares traded higher by 4.75% at $8.82 in the market session on the last check Thursday.