Hut 8 digital asset mining operations are 100% self-mining

Hat 8 Mining Corp

TORONTO, Oct. 1 /PRNewswire/

The company will buy the 960 Whatsminer M31S+ machines from hosting client TAAL from May 1

Hat 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or “the Company”), one of North America’s leading pioneers in innovation-driven digital asset mining, supporting open and decentralized systems since 2018, today announced an agreement to have met with TAAL to complete its hosting relationship and purchase 960 MicroBT-Whatsminer M31S+ machines starting May 1, 2022. ASIC miners are currently installed and operated on behalf of TAAL at the company’s mining facility in Medicine Hat, Canada.

The machines should provide an instant incremental hashrate of 81 PH/s, increasing Hut 8’s hashrate to 2.62 EH/s.

“The increased capacity will provide an immediate hashrate advantage as ASIC miners are already onsite, installed and hashing,” said Jaime Leverton, Managing Director of Hut 8. “Over the past 18 months, we have pursued a strategy that is unique in our environment: in addition to digital asset mining, we support our clients with high-performance computing, cloud hosting and colocation services across our five Canadian data centers to that they can succeed in the emerging blockchain and Web 3.0 industries.”

Once the acquisition is complete, Hut 8’s operations will be fully self-sufficient at all mine sites.

Company information:

Hut 8 is one of the largest innovation-driven digital asset miners in North America. The company is led by a team of start-up technologists who are bullish on Bitcoin, Blockchain, Web 3.0 and bridging the emerging and traditional worlds of high performance computing. Hut 8 operates two digital asset mining locations in southern Alberta and a third location in North Bay, Ontario, all in Canada, has one of the highest capacity rates in the industry and one of the largest local bitcoin holdings of any crypto miner or listed company in the world. With 36,000 square feet of geodiverse data center space and cloud capability, powered largely by renewable and zero-emissions resources, Hut 8 is revolutionizing conventional facilities to create the first hybrid data center model that combines both traditional high-performance computing (Web 2.0) and serving the emerging sectors of digital asset computing, blockchain gaming and Web 3.0. Hut 8 became the first Canadian digital asset miner to be included in the Nasdaq Global Select Composite Index and is the first blockchain company to be included in the S&P/TSX Composite Index in 2021. Hut 8’s business relies on decentralized systems, manages powerful cutting-edge solutions, and are innovators in digital asset mining and high-performance computing with a focus on ESG alignment. Through innovation, imagination and passion, Hut 8 helps define the digital asset revolution to create value and positive impact for its shareholders and future generations.

Caution Regarding Forward-Looking Information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws (collectively, “forward-looking information”). , other than statements of historical fact, which relate to activities, events or developments that the Company anticipates or anticipates will or may occur in the future, including such matters as future business strategy, competitive strength, objectives, expansion and growth of the Company’s business, operations, plans and similar matters are forward-looking information. Forward-looking information is often identified by the terms “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”. “, “assume” or similar words and include Disclosures include, but are not limited to, planned expansion of the currently installed hashrate, anticipated additional Bitcoin production resulting from the purchase, and the company’s ability to expand its strategy as both a digital asset miner and data center provider serving high performance computing, cloud hosting and colocation customers across five Canadian data centers.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates, which, although believed to be reasonable by Hut 8 as of the date of this press release, are subject to known and unknown risks such as , but not limited to, geopolitical risks, uncertainties, assumptions and other factors leading to them, the actual results, level of activity, performance or achievements could differ materially from those expressed or implied by such forward-looking information, including, without limitation, the factors discussed under “Risk Factors”. section of the Company’s Annual Report dated September 17, 2008 March 2022, which is available at www.sedar.com. These factors do not constitute a complete list of factors that could affect Hut 8, but should be carefully considered. There can be no assurance that these estimates and assumptions prove to be accurate.The forward-looking statements contained in this press release speak as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or revise any statement containing forward-looking information, or underlying factors or assumptions, whether as a result of new information, future events or for any other reason, except as required by law.

Related links: www.hut8mining.com

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Contact:

CONTACT: Cabin 8, dea.masottipayne@northstrategic.com

Original content by: Hut 8 Mining Corp, transmitted by news aktuell

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