Digihost Technology Inc. (DGHI): Business Model Canvas [Dec-2025 Updated]

You're looking at a company that's smartly navigating the energy and tech intersection, and frankly, the numbers from Q3 2025 show this pivot is working out. This firm, Digihost Technology Inc., has smartly built a vertically integrated power setup-centered around its owned 60 MW plant-and is now aggressively pushing into High-Performance Computing (HPC) and AI services to diversify beyond just crypto mining. The strategy is defintely showing up in the financials: energy sales alone jumped a massive 112% to $8.7 million that quarter, all while maintaining zero long-term debt and sitting on over $90 million in cash and BTC equivalents. It's a fascinating model blending stable power generation, crypto revenue, and future-proofing with high-margin AI infrastructure; want to see exactly how they structure this complex revenue engine across all nine blocks of the Business Model Canvas? Keep reading below.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Key Partnerships

You're looking at the core relationships that power Digihost Technology Inc.'s infrastructure and diversification strategy as of late 2025. These aren't just vendor agreements; they are strategic alignments designed to secure power, upgrade hardware efficiency, and pivot toward high-performance computing services.

Strategic MOU with NANO Nuclear Energy for Zero-Emission Power Integration

Digihost Technology Inc. formalized a strategic Memorandum of Understanding (MOU) in December 2024 with NANO Nuclear Energy Inc. to integrate advanced nuclear microreactor technology. This collaboration targets Digihost Technology Inc.'s 60 MWe power plant located in upstate New York to transition its infrastructure to carbon-free energy. NANO Nuclear Energy is developing reactor technologies, specifically ZEUS and ODIN, with projected deployment in 20-30 (likely 2030). The MOU includes NANO Nuclear Energy providing consulting services to Digihost Technology Inc. to support planning, regulatory advice, site assessment, and stakeholder engagement while nuclear deployment is developed. NANO Nuclear Energy will also assist in optimizing Digihost Technology Inc.'s existing gas power infrastructure to ensure energy stability.

Utility Grid Operators for Energy Sales and Load Curtailment Programs

Digihost Technology Inc. actively engages with utility grid operators, demonstrating operational flexibility that benefits both its cost structure and grid reliability. For instance, in January 2025, the Company actively participated in load curtailment programs for approximately seven days due to high energy costs. This participation resulted in a reduction in BTC mining costs and provided crucial grid reliability to surrounding electric consumers. The revenue diversification from these energy sales is becoming a significant component of the business.

Here are the key figures related to energy sales from early 2025:

Metric	February 2025 Amount	January 2025 Comparison
Gross Energy and Power Revenue	Approximately $2.2 million	633% increase over January 2025
Net Profit from Energy and Power Sales	Approximately $690,000	Used to fund operations
Energy Sales as % of Aggregate Revenue	Approximately 47%	(Mining was 53% of $4.7 million aggregate revenue)

The 60MW power plant in North Tonawanda, NY, acquired in Q1 2023, maintains flexible operation to provide 24/7 dispatchable supply in concert with directives of the NYISO (New York Independent System Operator).

Suppliers of High-Efficiency Bitcoin Mining Hardware

The partnership with hardware suppliers centers on deploying the latest generation of energy-efficient miners, often structured through profit-sharing or hosting agreements to manage capital outlay. You need to track the hash rate impact and the efficiency gains.

Key hardware deployment partnerships include:

• Integration of 11,000 state-of-the-art S21 miners (200/TH), translating to approximately 44MW of shared revenues.
• This S21 deployment agreement involves a profit-sharing structure providing 60% of daily Bitcoin mining rewards from those specific miners.
• A multi-year hosting agreement signed in March 2024 involved receiving 4,640 S19 XPs (21.5W/TH) for an upfront deposit of approximately $1.8 million.

Here is a summary of the hardware integration impact:

Miner Type	Quantity Deployed/Agreed	Associated Capacity/Revenue Share
S21 Miners	11,000 units	Approximately 44MW of shared revenues; 60% profit share
S19 XPs	4,640 units	Approximately 14MW of hosting

Technology Partners for the NeoCloud Z GPU-as-a-Service Platform

Digihost Technology Inc. is preparing for the launch of its NeoCloud Z GPU-as-a-Service platform scheduled for January 2026. The company reported a positive net income of $300,000 in Q3 2025, with working capital increasing from $500,000 to $15 million, positioning it for this strategic technology expansion. Specific named technology partners for the NeoCloud Z platform were not detailed in the latest available operational updates, but the platform is a key part of the strategy following the planned $175m Phase I (22MW) Tier III data center conversion in Columbiana, AL, expected operational in 2026.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Key Activities

You're looking at the core engine driving Digihost Technology Inc. (DGHI) right now, which is a clear pivot from just mining to becoming an energy and high-performance computing (HPC) player. The key activities revolve around maximizing the value of their owned power assets while aggressively building out the next-generation compute infrastructure.

Operating and maintaining the wholly owned combined cycle power plant

The foundation of Digihost Technology Inc.'s operational flexibility is its ownership of power generation assets. This lets the company manage its own power costs and participate in energy markets, which is a massive differentiator from peers who are purely power consumers. While specific maintenance costs aren't broken out, the operational success is reflected in the energy revenue figures.

The company currently operates with approximately 100MW of available power across its three U.S. sites, with stated plans to expand this capacity to 200MW and beyond. Furthermore, a strategic move involves the 60MW New York facility, where Digihost Technology Inc. formalized a Memorandum of Understanding with NANO Nuclear Energy to integrate advanced nuclear energy technologies. This activity is about securing long-term, sustainable power supply for future growth.

Self-mining Bitcoin and managing colocation services

Self-mining Bitcoin remains a core activity, though its relative importance is shifting as energy sales grow. For the month of February 2025, miners at the facilities produced approximately 30 BTC between self-mining and hosting agreements. This production level was in line with January 2025 figures. The revenue split for February 2025 showed that approximately 53% came from mining, equating to about $2.7 million based on a BTC price of $84,373 on February 28, 2025. The company also manages colocation services, which are bundled into the mining revenue segment.

The balance sheet activity shows a commitment to holding digital assets; as of September 30, 2025, Digihost Technology Inc.'s BTC holdings stood at 97, representing a 143% increase during the third quarter of 2025. They also hold approximately 1,000 ETH as of that same date.

Selling excess power capacity back to the energy grid

This activity is where the diversification strategy really shines, especially during peak demand periods. Digihost Technology Inc. actively participates in load curtailment programs, temporarily reducing mining to sell power back to the grid. This flexibility generated a record gross energy and power revenue of approximately $2.2 million in February 2025, a 633% increase over January 2025. The net profit from these energy sales alone in February 2025 was approximately $690,000. By the third quarter of 2025, this segment showed massive growth, with energy sales growing 112% year-over-year to reach approximately $8.7 million for the quarter. In February 2025, energy sales accounted for approximately 47% of the aggregate total revenue.

Developing Tier 3 High-Performance Computing (HPC) data centers

The most significant strategic activity is the development of dedicated AI and HPC infrastructure through the wholly-owned subsidiary, US Data Centers, Inc., formed in early 2025. This involves transforming the existing site in Columbiana, Alabama, into a state-of-the-art Tier 3 data center, which guarantees 99.982% uptime. The company ceased BTC mining at the Alabama site to redeploy resources to this compute focus. The development is planned in two phases, targeting a total aggregate planned capacity of 55 MW.

Here are the specifics on the planned capital deployment for this key activity:

Phase	Planned Capacity (MW)	Planned Capital Expenditure (USD)	Target Completion
Phase 1	22	Approximately $176 million	Q2 2026
Phase 2	33	Approximately $264 million	Q1 2027

The total estimated capital expenditure for the entire Columbiana project is approximately $440 million. This development is expected to enable the launch of the ARMS 200 platform in January 2026 and the NeoCloud Z GPU-as-a-Service platform in January 2026.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Key Resources

You're looking at the core assets Digihost Technology Inc. (DGHI) is banking on to drive its pivot toward AI infrastructure. These aren't just abstract plans; they are tangible power and financial resources that define the company's operational base as of late 2025.

The energy backbone is centered around owned infrastructure. Digihost Technology Inc. owns a 60 MW power plant in New York, which is key for securing low-cost power, especially with the ongoing strategic partnership with NANO Nuclear Energy to explore advanced nuclear integration there. This facility is a cornerstone of their energy strategy.

Overall, the total available power capacity across its three U.S. sites stands at approximately 100MW. This capacity is being strategically redeployed. For instance, the company has ceased BTC mining at its Alabama site to focus on AI infrastructure development, leveraging this existing power base.

Financially, the liquidity position is the strongest in company history. As of Q3 2025, Digihost Technology Inc. is holding over $90 million in cash, BTC, and equivalents. This substantial war chest, which the CEO noted is mostly cash, allows for aggressive development without immediate external pressure. The company is maintaining a clean balance sheet with zero long-term debt, which gives it significant capital flexibility for its build-out plans.

The major capital deployment is focused on the Alabama site transformation. Digihost Technology Inc. is developing a Tier 3 data center infrastructure in Columbiana, Alabama, through its US Data Centers subsidiary. Phase I of this development targets 22 MW of High-Performance Computing (HPC) capacity, with a planned capital expenditure of approximately $176 million for this initial stage, targeting completion in Q2 2026. The total planned capacity for the Alabama project is 55 megawatts across two phases.

Here's a quick look at the scale of these key physical and financial resources:

Resource Metric	Value / Status	Context
New York Power Plant Capacity	60 MW	Securing low-cost, sustainable power supply.
Total U.S. Available Power Capacity	Approx. 100 MW	Across three operational sites.
Liquidity (Cash, BTC, ETH, Equivalents)	Over $90 million	As of Q3 2025; strongest in company history.
Alabama Tier 3 Data Center - Phase I	22 MW	Targeted completion in Q2 2026.
Long-Term Debt	Zero	Provides maximum capital deployment flexibility.

These resources underpin the strategic shift. You can see the focus on energy control and high-value compute infrastructure:

• Owned 60 MW facility in New York, with a nuclear energy integration roadmap targeting 2031.
• Total operational power capacity of approximately 100 MW across three sites.
• Liquidity exceeding $90 million in cash and digital assets as of Q3 2025.
• Alabama AI/HPC build-out: Phase I is 22 MW capacity.
• Balance sheet strength: Zero long-term debt reported.

The company is definitely using its energy assets to fund its next-gen compute platform. Finance: draft 13-week cash view by Friday.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Value Propositions

You're looking at the core reasons why customers choose Digihost Technology Inc. as of late 2025. It's not just about mining anymore; it's about energy infrastructure and high-performance computing power.

Vertically integrated model for low and stable power costs

Digihost Technology Inc. uses an Energy-First Model. This means the company owns its energy infrastructure, which gives it a low-cost, long-term power supply. This setup insulates Digihost Technology Inc. from the volatile spot-market energy prices that hit many competitors hard. This is a defintely key differentiator for cost stability.

Revenue diversification across crypto, energy, and HPC/AI

The business is clearly moving beyond just Bitcoin. For the month of February 2025, the total revenue hit approximately $4.7 million. That revenue came from a near-even split, with 53% generated from mining and 47% from energy sales. To be fair, the energy segment is accelerating fast; Q3 2025 saw energy revenue surge by 112% year-over-year, reaching $8.7 million. The net profit from those energy and power sales in February 2025 alone was approximately $690,000.

Here's a quick look at that February 2025 revenue split:

Revenue Source	Percentage of Total Revenue (Feb 2025)	Revenue Amount (Feb 2025, approx.)
Bitcoin Mining	53%	$2.49 million
Energy/Power Sales	47%	$2.2 million

Operational flexibility via load curtailment for high-margin energy sales

You see the value of that energy infrastructure when the grid needs help. In January 2025, Digihost Technology Inc. actively participated in load curtailment programs for approximately seven days because of high energy costs. This move directly reduced their BTC mining costs and provided crucial grid reliability. The broader market context shows this flexibility is valuable; studies suggest US grids could integrate up to 126 GW of new load with just a 1% annual curtailment rate from flexible assets like data centers. Digihost Technology Inc.'s participation is a direct monetization of this grid service.

Commitment to over 90% zero-carbon emission energy sources

Sustainability is baked into the power sourcing. Digihost Technology Inc. currently operates with greater than 90% zero emissions from its power consumption. Specifically, one of its facilities in New York's Zone-A region is powered by more than 90% zero emissions generation. This commitment strengthens its position in an ESG-focused market.

Transition to higher-margin Tier 3 AI/HPC data center services

The strategic pivot is toward higher-margin services through its subsidiary, US Data Centers, Inc. The plan centers on transforming the Columbiana, Alabama site into a state-of-the-art Tier 3 data center. This project is planned in two phases:

• Phase I: 22 MW capacity, targeted for Q2 2026, with planned capital expenditures of approximately $176 million.
• Phase II: 33 MW capacity, targeted for Q1 2027, with planned capital expenditures of approximately $264 million.

The total aggregate planned capacity for the AI/HPC build-out is 55 MW, with an estimated total capital expenditure of approximately $440 million. Still, the Alabama campus is designed to deliver 40 MW of critical power for this new high-margin focus immediately.

Finance: draft 13-week cash view by Friday.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Customer Relationships

You're looking at how Digihost Technology Inc. (DGHI) manages its connections with different customer groups as of late 2025. It's not one-size-fits-all; the approach changes based on whether you are selling power capacity, hosting compute, or talking to the market.

Automated, high-uptime service for colocation clients

For the core hosting business, the relationship is built on infrastructure reliability. Digihost Technology Inc. currently operates with approximately 100MW of available power across its three U.S. sites, with plans to expand capacity to 200MW. The new AI-ready modular systems, like the ARMS 200 pods, are designed to comply with TIA-942 Tier III standards, which means fault-tolerant infrastructure guaranteeing redundancy and uptime, aiming for no more than 1.6 hours of downtime a year. The company is actively advancing long-term colocation and AI compute agreements with multiple potential customers.

Here's a quick look at the infrastructure scale supporting these uptime promises:

Metric	Value (Late 2025)	Context
Current Operating Power Capacity	100MW	Across three U.S. sites.
Targeted Power Capacity Expansion	200MW	Future goal for capacity.
Data Center Standard Adhered To	Tier III	For redundancy and uptime compliance.
ARMS 200 Pod Deployment Start	Q4 2025	First assembly began.

Dedicated account management for large utility power sales contracts

When Digihost Technology Inc. sells capacity back to the grid, the relationship is more direct and contract-driven, focusing on large-scale energy transactions. This is evident in the financial performance tied to energy sales. For February 2025, gross energy and power revenue hit a record of approximately $2.2 million, which was 47% of the aggregate total revenue for that month. The net profit from these energy sales alone was approximately $690,000 in February 2025. By the third quarter of 2025, energy revenue surged by 112% year-over-year, reaching $8.7 million. This segment requires dedicated management to handle dispatchable supply and grid reliability commitments, such as the voluntary load curtailment programs they use to manage peak pricing periods.

Direct sales and technical support for future HPC/AI clients

The relationship with future High-Performance Computing (HPC) and Artificial Intelligence (AI) clients is being established now through the US Data Centers subsidiary. This involves direct engagement to secure future, high-value compute agreements. The company is converting its Columbiana, Alabama site into a Tier III data center to support these workloads. This project has a total planned capital expenditure estimated at approximately $440 million, broken down into Phase I (22MW) targeted for Q2 2026 and Phase II (33MW) targeted for Q1 2027. Furthermore, an approved 60-megawatt load study in New York signals readiness for further AI expansions, which will require direct technical sales support to fill that capacity.

Key milestones for the HPC/AI client pipeline include:

• US Data Centers subsidiary launched in early 2025.
• Alabama Phase I (22MW) expected operational in Q2 2026.
• Alabama Phase II (33MW) expected operational in Q1 2027.
• First NVIDIA B200 cluster build on track for Q1 2026 activation.

Investor relations for transparent financial reporting

For shareholders, the relationship is managed through clear, timely financial disclosure. Digihost Technology Inc. demonstrated a significant financial turnaround in Q3 2025, reporting a positive net income of $300,000, which reversed a $6.4 million loss from the prior year. Liquidity improved substantially, with working capital increasing from $500,000 to $15 million in Q3 2025. Critically, the company maintains zero long-term debt, a key point for investor confidence. Reporting cadence includes filing an Annual Report, with past filings noted around March and September dates, such as the March 05, 2025, filing for the previous fiscal year.

Investor-relevant financial metrics as of late 2025 reporting:

• Q3 2025 Net Income: $300,000 (positive).
• Year-over-year Net Income change: Reversal of a $6.4 million loss.
• Q3 2025 Working Capital: $15 million.
• Long-Term Debt: Zero.

Finance: draft 13-week cash view by Friday.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Channels

You're looking at how Digihost Technology Inc. (DGHI) gets its value proposition to the customer, which is a mix of energy services and high-performance computing infrastructure now. Here's the breakdown of their channels as of late 2025.

Direct power sales connection to the utility grid

This channel is central to Digihost Technology Inc.'s strategy to be an energy infrastructure player, not just a miner. They actively use their owned power assets to participate in load curtailment programs, which means temporarily throttling back mining to sell power directly back to the grid when demand spikes.

The financial impact of this channel was significant in early 2025. For the month of February 2025, energy sales accounted for approximately 47% of total monthly revenue. That month saw a record gross energy and power revenue of approximately $2.2 million, which was a 633% jump from January 2025. The net profit generated from these energy sales alone in February 2025 was approximately $690,000. By the third quarter of 2025, this revenue stream was still growing, with energy revenue surging by 112% to $8.7 million.

Operationally, Digihost Technology Inc. currently utilizes approximately 100MW of available power across its three U.S. sites, with stated plans to expand this capacity to 200MW and beyond. A key part of this infrastructure channel is the strategic partnership with NANO Nuclear Energy, which is set to provide power for the 60MW New York facility.

Company website and digital platforms for investor communication

For communicating with investors and the market, Digihost Technology Inc. relies on standard regulatory filings and dedicated digital properties. The company's pivot toward AI infrastructure is highlighted by the new digital presence for its subsidiary, with the US Data Centers website located at www.usdatacenters.ai.

Investor communication channels also involve regular operational updates, such as the February 2025 production update and the Q3 2025 earnings call transcript. The company's stock trades on NASDAQ under the ticker DGHI.

Direct sales team for colocation and future HPC data center contracts

This channel represents the future revenue driver, moving away from pure crypto mining to high-margin data center services. Digihost Technology Inc. is transforming its Columbiana, Alabama site into a Tier 3 data center via its US Data Centers subsidiary to secure colocation and High-Performance Computing (HPC) contracts.

The scale of this direct sales effort is tied to the build-out plan. The total planned capacity for the Alabama conversion is 55MW, split into two phases. This is a massive undertaking for a company with a market capitalization around $59.94 million as of November 2025.

Project Phase	Planned Capacity	Target Completion	Planned Capital Expenditure
Phase I (Alabama)	22 MW	Q2 2026	Approximately $176 million
Phase II (Alabama)	33 MW	Q1 2027	Approximately $264 million
Total Project	55 MW	N/A	Estimated at approximately $440 million

The company has already started the physical build-out; the first ARMS 200 Tier 3 AI pod assembly began in Q4 2025, scheduled to be online in Q1 2026. Furthermore, they plan to launch the NeoCloud Z GPU-as-a-Service platform in January 2026, which will be another direct offering to HPC/AI customers.

Cryptocurrency exchanges for liquidating mined Bitcoin

The legacy channel involves liquidating mined Bitcoin to generate cash flow, which is then strategically used for operations and capital expenditures. While the focus is shifting, this remains a direct path to fiat currency for a portion of their revenue.

In February 2025, the company produced approximately 30 BTC through self-mining and hosting agreements. The revenue from this mining activity was approximately $2.7 million for the month, based on a BTC price of $84,373 as of February 28, 2025. This represented approximately 53% of the aggregate total revenue of $4.7 million for that month. As of Q3 2025, Digihost Technology Inc. held 97 Bitcoin, with the total digital currency value reported at $15.4 million.

The company maintains a strong balance sheet to support this, reporting zero long-term debt and increasing working capital from $500,000 to a robust $15 million in Q3 2025. They invested approximately $2.5 million in February 2025 on capital expenditures and infrastructure, which was partially funded by these liquidations.

• Cash, BTC, and cash deposits were approximately $10.1 million on February 28, 2025.
• Total digital currency value was up 213% year-over-year as of Q3 2025.
• The company aims to profitably liquidate its digital currency inventory as required.

Finance: draft the cash flow impact of the $9.5 million year-to-date CapEx by Monday.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Customer Segments

You're looking at the key groups Digihost Technology Inc. (DGHI) serves right now, based on their late 2025 strategic pivot. It's not just about mining anymore; you see energy, specialized computing, and the public market all playing a part.

Energy market/utility grid operators purchasing power capacity

This segment is about Digihost Technology Inc. (DGHI) acting as a power supplier, not just a consumer. Their owned power assets allow them to participate in energy markets through load curtailment programs, selling power back when the grid needs it most. This flexibility is a major differentiator for this customer group.

The financial impact from this segment was significant in early 2025. The net profit from energy and power sales hit approximately $690,000 in February 2025. Also, the gross energy and power revenue for that same month was a record at approximately $2.2 million. By the third quarter of 2025, energy revenue alone surged by 112% to reach $8.7 million. In February 2025, energy sales accounted for approximately 47% of the total monthly revenue.

The underlying resource supporting these sales is the power capacity itself:

• Current available power across three U.S. sites is approximately 100MW.
• Expansion plans target capacity of 200MW and beyond.

Institutional and large-scale cryptocurrency miners (colocation clients)

Digihost Technology Inc. (DGHI) provides hosting services, which means they offer space and power for other miners' equipment. This is a move to secure more predictable, recurring revenue streams compared to self-mining.

The operational output from this segment, combined with self-mining, shows the scale of activity in February 2025. Miners at the facilities produced approximately 30 BTC during that month through self-mining and hosting agreements. The revenue derived from mining, which includes hosting fees, was approximately $2.7 million in February 2025, based on a BTC price of $84,373 as of February 28, 2025. The company has stated it expects to continue expanding the portion of its revenue from colocation services.

High-Performance Computing (HPC) and AI clients needing Tier 3 data centers

This represents the company's major strategic pivot, executed through the US Data Centers subsidiary formed in early 2025. These clients require infrastructure that is resilient and purpose-built for intensive computing workloads.

The commitment to this segment is reflected in the planned infrastructure build-out in Columbiana, Alabama, which is designed to meet the high standards required by AI workloads:

Metric	Phase 1 Details	Phase 2 Details	Total Project
Planned Capacity (MW)	22 MW	33 MW	55 MW
Target Completion	Q2 2026	Q1 2027	N/A
Planned Capital Expenditure	$176 million	$264 million	Approximately $440 million

The infrastructure is being built to achieve Tier 3 Certification, which guarantees 99.982% uptime. Furthermore, the ARMS 200 Tier 3 AI pod assembly started in Q4 2025, with deployment across Tier 3 sites planned beginning January 2026.

Public equity investors seeking exposure to diversified energy/crypto/AI

This group consists of shareholders on the Nasdaq (DGHI) and TSXV exchanges who are looking for a diversified play across energy infrastructure, digital assets, and emerging AI compute. The company reported a significant financial turnaround in Q3 2025, which directly impacts investor sentiment.

Key financial metrics relevant to this customer segment as of late 2025 include:

• Market Capitalization as of November 2025: approximately $59.94 million.
• Q3 2025 Net Income: a positive $300,000, reversing a $6.4 million loss from the prior year.
• Working Capital improvement: increased from $500,000 to $15 million in Q3 2025.
• Digital Currency Holdings Value: Total digital currency value was $15.4 million, up 213% year over year (as of February 28, 2025).
• The company maintains zero long-term debt.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep the lights on and the servers running for DigiPower X Inc. (formerly Digihost Technology Inc.) as of late 2025. The cost structure is heavily weighted toward infrastructure and energy, which makes sense for a company operating large-scale data centers and energy assets.

The company has been actively managing these costs while simultaneously investing in future capacity. For instance, the strategic decision to participate in load curtailment programs, while reducing monthly Bitcoin production by 17% in January 2025 compared to December 2024, was a move to optimize costs during high energy price periods. This flexibility is a key part of managing the variable energy expense. The company maintained a zero-debt position while funding these investments.

Here are the key financial metrics that define the cost side of the equation:

• Significant capital expenditures for infrastructure build-out, including an investment of $1.2 million in January 2025 for capital expenditures, mining infrastructure support equipment, and deposits.
• Costs associated with carbon compliance and renewable energy certificates, highlighted by the plan for 100% of operations to achieve carbon neutrality by the end of 2025.
• Involvement in renewable energy assets, specifically being the anchor subscriber to a 5-megawatt community solar project.

The focus on efficiency is clear when you look at the year-to-date improvements through Q3 2025.

Cost Component	Period	Amount (USD)
Cost of Revenue (Cost of Sales)	Three Months Ended September 30, 2025	$8,999,194
Cost of Revenue (Cost of Sales)	Nine Months Ended September 30, 2025	$27,997,827
Reduction in Cost of Revenue and Depreciation	Year-to-Date (Q3 2025)	$9.3 million
Depreciation and Amortization Expense Decrease	Nine Months Ended September 30, 2025 (Year-over-Year)	$6,448,390
Capital Expenditures & Infrastructure Investment	January 2025	$1.2 million

Power generation and maintenance costs for owned energy assets are a major driver, though specific maintenance dollar figures aren't broken out separately from the Cost of Sales. However, the energy revenue for Q3 2025 was $8.7 million, showing the scale of the energy component of the business. The operational costs for mining hardware and data center management are embedded within the Cost of Sales figure, which was $37,300,862 for the nine-month period ended September 30, 2024, for comparison. The company is planning a significant AI infrastructure build-out for 2026, starting with 5 megawatts in Q1 2026, which will introduce new capital and operational costs.

To be fair, the reduction in Cost of Revenue and Depreciation by $9.3 million year-to-date is a strong indicator of successful cost management, likely driven by asset optimization and the shift in revenue mix toward higher-margin energy services. Finance: draft 13-week cash view by Friday.

Digihost Technology Inc. (DGHI) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for Digihost Technology Inc. (DGHI) as of late 2025, and it's clear the company has moved well beyond just selling mined Bitcoin. The model is now a deliberate mix of energy monetization, digital asset revenue, and high-value hosting services. This diversification is key to understanding their current valuation profile.

The energy segment has become a powerhouse. Energy sales to the grid, driven by their power plant assets and participation in load curtailment programs, surged 112% to reach $8.7 million in Q3 2025. This stream provides a crucial, non-crypto-dependent income floor. To be fair, the operational flexibility this offers is a major differentiator for Digihost Technology Inc. in the infrastructure space.

For the month of February 2025, the total revenue hit approximately $4.7 million. The revenue split for that month clearly showed the dual focus:

Revenue Source (February 2025)	Approximate Amount	Percentage of Total Revenue
Self-Mined Bitcoin (BTC) Revenue	Approx. $2.7 million	Approx. 53%
Energy Sales to the Grid	Approx. $2.2 million	Approx. 47%

The profitability of the energy segment is also notable. The net profit derived specifically from energy and power sales was approximately $690,000 in February 2025. This directly contributed to the company achieving a positive net income of $300,000 in Q3 2025, reversing a $6.4 million loss from the previous year.

Beyond these two primary streams, Digihost Technology Inc. secures recurring revenue through hosting services. This is where the colocation business fits in:

• Colocation hosting fees from third-party miners.
• Historical quarterly revenue from colocation service agreements for the three-month period ended September 30, 2024, was $7,076,259.

The future growth story is heavily weighted toward high-performance computing (HPC). The company is actively transitioning infrastructure to capture higher-margin, more predictable contracts. This is where the planned NeoCloud Z GPU-as-a-Service and HPC data center services come in. The expectation for this segment is:

• Future revenue from NeoCloud Z GPU-as-a-Service and HPC data center services (projected 20-25% of total revenue).

Honestly, the move to HPC is about capturing higher multiples on their power assets. For instance, the planned 22MW Phase I of the Tier 3 data center in Alabama, targeted for completion in Q2 2026, is valued significantly higher per megawatt than traditional mining operations.