Hut 8 Mining holds 5,826 mined Bitcoins in reserve as of January 31, 2022 and…

Hat 8 Mining Corp

TORONTO, Oct. 1 /PRNewswire/

Hat 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or “the Company”), one of North America’s largest innovation-driven digital asset mining pioneers, taking supports open and decentralized systems since 2018, is pleased to announce the following companies updating Make available.

Mining Production Highlights for January 2022:

  • 308 bitcoins were “mined”, resulting in an average production rate of 9.93 bitcoins per day;
  • 100% of January self-mined Bitcoins deposited in custody, in line with Hut 8’s hodl strategy;
  • The total balance of bitcoins held in reserve is 5,826 (as of January 31, 2022);
  • The installed operational capacity is currently 2.36 p.e./s, up 17% on Friday December 31, 2021.
    • About 16% of bitcoin production came from the company’s fleet of graphics processing unit (GPU) miners, which were used to mine Ethereum while receiving bitcoin payments. The efficiency of these GPUs with minimal power requirements resulted in an average cost of less than CA$2,600 per bitcoin;

Operational updates for January 2022:

  • In January 2022, the company installed 6,317 MicroBT M30S and M31S+ miners, the former Bitfury Clarkes fleet was retired.
  • Hut 8 also made progress on the construction and development of the company’s third data center in North Bay, Ontario. The structure of the building is complete, the floors will be poured shortly and the assembly should begin in February 2022.

“Our team is working hard to deploy additional miners between our two Alberta-based locations to increase overall efficiency and hashrate using existing capacity,” said Jason Zaluski, Chief Technology Officer at Hut 8 for utilizing miners. most efficient miners we have, and we have maintained our MicroBT units and have always fully deployed them, which is a testament to the dedication and skill of our team here in Alberta. »

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 sites in energy-rich Alberta and a third site in North Bay, Ontario, Canada, has one of the highest installed capacity rates in the industry and holds more bitcoin mined than any other crypto miner or publicly traded company. global. The company’s acquisition of TeraGo Inc.’s cloud data center and colocation business establishes Hut 8 as a leading high-performance computing platform, giving the company a unique positioning within the ecosystem digital assets. The data center business spans from Toronto to Vancouver and includes over 36,000 square feet of geodiverse data center space powered primarily by zero-emission energy sources. With this acquisition, Hut 8 bridges traditional and emerging forms of high performance computing by taking an unconventional approach to revolutionizing legacy assets and creating the first hybrid data center model that combines both the traditional high performance computing space ( Web 2.0) as well as serving the emerging sectors of digital computing and Web 3.0. Hut 8 has deployed a Tier 0 to Tier 3 computing platform, delivering open source digital asset mining and distributed ledger technology to areas typically underutilized in a traditional high-performance data center. The platform consists of approximately 400 commercial customers in a variety of industries such as games, visual effects and government agencies, as well as a platform to develop applications and services for markets and underserved customers in growing digital assets, blockchain, games and web 3.0. Industries. Going forward, we envision robust infrastructure offerings to enable economies of scale and economies of scale in high-performance computing and growing application development in the Web 3.0 and digital asset ecosystem. Hut 8’s enterprise building technologists rely on decentralized systems, manage powerful cutting-edge solutions, and are innovators in digital asset mining and high-performance computing with a focus on ESG alignment. With innovation, imagination and passion, Hut 8 helps define the digital asset revolution to create value and positive impact for its shareholders and future generations.

Notice 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 frequently identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”. “, “estimate”, “expect”, “assume”, “may”, “could”, “potential”, “predict”, “designed”, “probable” or similar expressions and include, but not limited to, statements regarding bitcoin network dynamics, company’s ability to produce additional bitcoin, company’s capacity, overall and hashrate efficiency, company’s ability to deploy additional miners, costs associated with operating digital assets and the Company’s ability to maintain existing productivity rates.

Forward-looking information is always 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, uncertainties , assumptions and other factors. which could cause actual results, activities, performance or achievements to differ materially from those expressed or implied by such forward-looking information. This includes, among other things, the possibility that the expected schedule for the completion of construction and development activities at the Company’s third mine site in North Bay, Ontario, may be further delayed due to chain impacts. global supply and the company’s ability to operate by ensuring that interest payments on all portions drawn from the loan with Trinity Capital, the impact of general economic conditions on the company, industry conditions, currency fluctuations, taxes, regulations, changes in tax or other legislation, competition from other industry participants, lack of availability of qualified staff or management, stock market volatility, political and geopolitical instability and the company’s ability to access sufficient capital from internal and external sources. The above risks and other risks are further described in the “Risk Factors” section of the Company’s Annual Report dated March 25, 2021, available at www.sedar.com. These factors are not intended to be a complete list of factors that could affect Hut 8, however, you should exercise caution and should not place undue reliance on forward-looking information. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking information contained in this press release is made as of the date of this press release and Hut 8 expressly disclaims any obligation to update or revise any statement, whether as a result of new information, events or of future circumstances or otherwise, which contains forward-looking information or the underlying factors or assumptions except as required by law from time to time. The factors will occur and it is not possible for Hut 8 to predict all of these factors or d Assessing in advance the impact of each of these factors on Hut 8’s business or the extent to which any one factor or combination of factors may cause actual results to differ materially from those contained in the forward-looking information. The forward-looking information contained in this press release is expressly qualified by this cautionary statement.

Related links: www.hut8mining.com

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Media contact:

Cabin 8, dea.masottipayne@northstrategic.com

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

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