07:19 AM EDT, 06/11/2024 (MT Newswires) -- Digihost Technology ( DGHI ) said Tuesday that it signed a profit-sharing agreement with a strategic partner to expand bitcoin mining operations.

Under the agreement, Digihost ( DGHI ) will integrate into its facilities 11,000 S21 miners, about 44 megawatts of hosting.

The deal also includes a profit-sharing component, under which Digihost ( DGHI ) will receive 60% of the daily Bitcoin mining rewards earned from the S21 Miners in exchange for providing the agreed-upon capacity and electrical infrastructure support.

The company will complete the deployment of the miners in phases. The company is expecting an hash rate increase of 1.2 EH/s to a targeted total of 3.2 EH/s by the end of the third quarter.

Additionally, Luke Marchiori, the company's chief sustainability officer, said Digihost ( DGHI ) will procure renewable energy certificates in 2024 to achieve 100% carbon-free energy.

Digihost's ( DGHI ) consolidated operating capacity across its three sites represents about 90MW of available power, and Digihost ( DGHI ) is mining at a hashrate of 2 EH/s.