Bitcoin Miner Digihost Completes Controversial Power Plant Acquisition, Doubling Energy Capacity

Nearly two years after first asserting the deliberate acquisition of a pure fuel energy plant within the state of New York, bitcoin mining agency Digihost (DGHI) stated it has accomplished the acquisition.

The Toronto-based agency was capable of pay for the plant with money, so averted taking up debt or diluting current shareholders’ fairness, CEO Michel Amar stated in a Wednesday press launch. In March 2021, the corporate stated it could pay $4.25 million in money and inventory. It hadn’t responded to requests concerning the ultimate worth by publication time.

By securing an influence technology asset, Digihost can higher management its vitality prices and promote energy to the grid at instances of peak demand. Nevertheless, enter prices will depend upon the variable price of pure fuel.

The plant is able to producing 60 MW, bringing the agency’s vitality capability to 100 MW, or about 2 exahash/second (EH/s) of mining computing energy. The preliminary energy technology run fee will likely be about 50 MW, it stated in a January assertion.

Environmental teams have filed a lawsuit over the approval of the facility plant sale. They argue that the plant will work 24/7, thus “rising its greenhouse fuel emissions as much as 3,500% whilst the remainder of New York works to drastically scale back its greenhouse fuel emissions.”

Digihost “believes that yr spherical, the plant will proceed to offer electrical energy to the grid on demand so as to meet prospects wants throughout excessive climate circumstances and also will proceed to run the plant as a peaker plant,” in response to the January assertion. Peaker vegetation are turned on when demand for vitality is excessive and are normally fossil fuel-powered.