Digihost Technology (DGHI) Receives Nasdaq Non-Compliance Notice

Digihost Technology Inc. (Nasdaq: DGHI), an innovative U.S. based Bitcoin (“BTC”) mining company, today announced that on October 10, 2022 it received a written notification from the Nasdaq Stock Market LLC indicating that, for the last thirty consecutive business days, the bid price for the Company’s Subordinate Voting Shares had closed below the minimum US$1.00 per share requirement for continued listing on Nasdaq under Nasdaq Listing Rule 5550(a)(2).

In accordance with Nasdaq Listing Rule 5810(c)(3)(A), the Company has been provided an initial period of 180 calendar days, or until April 10, 2023, to regain compliance. The letter states that the Nasdaq staff will provide written notification that the Company has achieved compliance with Rule 5550(a)(2) if at any time before April 10, 2023, the bid price of the Company’s Shares closes at US$1.00 per share or more for a minimum of ten consecutive business days. The Nasdaq letter is only a notification of deficiency and has no immediate effect on the listing or trading of the Company’s Shares and the Shares will continue to trade on Nasdaq under the symbol “DGHI.” The Company’s Shares are also listed on the TSX Venture Exchange and the Notification Letter does not affect the Company’s compliance status with such listing.

The Company intends to monitor the bid price of its Shares between now and April 10, 2023, and to evaluate its available options to regain compliance with Nasdaq’s minimum bid price rule within the compliance period. If the Company does not regain compliance with Rule 5550(a)(2) by April 10, 2023, the Company may be eligible for an additional 180 calendar day compliance period.

The Company’s business operations are not affected by the receipt of the Notification Letter and the Company fully intends to resolve the deficiency and regain compliance with the Nasdaq Listing Rules.

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