TORONTO, Jan. 11,
2022 /CNW/ - Hut 8 Mining Corp. (Nasdaq: HUT) (TSX:
HUT) ("Hut 8" or "the Company"), one of North America's largest, innovation-focused
digital asset mining pioneers, supporting open and decentralized
systems since 2018, is pleased to provide the following corporate
update.
Hut 8 is thrilled to announce that it has joined the Business
Renewables Centre Canada ("BRC Canada"). Hut 8 is the first digital
asset mining company to become a member of the organization. The
BRC Canada is a not-for-profit community that works with industry
experts to accelerate the uptake of renewable energy in
Canada. Being a part of the BRC
Canada provides Hut 8 with the opportunity to work with a wide
array of companies and leading-edge renewable energy developers.
Additional benefits of membership include the opportunity for Hut 8
to support integration, acceleration, and the uptake of renewable
and low-emission sources of power across Canada.
"We are committed to building a business focused on driving
industry awareness around sustainability practices in the digital
asset mining and blockchain ecosystem," said Jaime Leverton, CEO of Hut 8 Mining. "We are
thrilled to be the first digital asset mining company to join the
BRC Canada and look forward to the opportunity to be a part of an
organization that is focused on driving change and renewable energy
adoption in Canada."
About Hut 8:
Hut 8 is one of North America's
largest innovation-focused digital asset miners, supporting open
and decentralized systems since 2018. With two sites located in
energy rich Alberta and a third
site in North Bay, Ontario Canada,
Hut 8 has one of the highest installed capacity rates in the
industry and holds more self-mined Bitcoin than any crypto miner or
publicly traded company globally. Hut 8 is executing on its
commitment to mining and holding Bitcoin and has a diversified
business and revenue strategy to grow and protect shareholder value
regardless of Bitcoin's market direction. The Company's
multi-pronged business strategy includes profitable digital asset
mining, white-label high-performance compute hosting, as well as
yield & income programs leveraging its Bitcoin held in reserve.
Having demonstrated rapid growth and a stellar balance sheet, Hut 8
was the first publicly traded miner on the TSX and the first
Canadian miner to be listed on The Nasdaq Global Select Market. Hut
8's team of business building technologists are believers in
decentralized systems, stewards of powerful industry-leading
solutions, and drivers of innovation in digital asset mining and
high-performance computing, with a focus on ESG alignment. Through
innovation, imagination, and passion, Hut 8 is helping to define
the digital asset revolution to create value and positive impacts
for its shareholders and generations to come.
Cautionary Note Regarding Forward–Looking
Information
This press release includes "forward-looking information" and
"forward-looking statements" within the meaning of Canadian
securities laws and United States
securities laws, respectively (collectively, "forward-looking
information"). All information, other than statements of historical
facts, included in this press release that address activities,
events or developments that the Company expects or anticipates will
or may occur in the future, including such things as future
business strategy, competitive strengths, goals, expansion and
growth of the Company's businesses, operations, plans and other
such matters is forward-looking information. Forward-looking
information is often identified by the words "may", "would",
"could", "should", "will", "intend", "plan", "anticipate", "allow",
"believe", "estimate", "expect", "predict", "can", "might",
"potential", "predict", "is designed to", "likely" or similar
expressions and includes, among others, statements regarding the
Company's ability to ascertain renewable energy sources and
partnerships, derive any membership benefits from its relationship
with BRC Canada and any integration, acceleration, and the uptake
of renewable and low-emission sources of power across Canada.
Forward-looking information is necessarily based on a number of
opinions, assumptions and estimates that, while considered
reasonable by Hut 8 as of the date of this press release, are
subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity,
performance or achievements to be materially different from those
expressed or implied by such forward-looking information, including
that the anticipated timing for completion of the construction and
development activities at the Company's third mining site in
North Bay, Ontario will be further
delayed as a result of global supply chain impacts, the Company's
ability to make interest payments on any drawn portions of loan
with Trinity Capital, the impact of general economic conditions on
the Company, industry conditions, currency fluctuations, taxation,
regulation, changes in tax or other legislation, competition from
other industry participants, the lack of availability of qualified
personnel or management, stock market volatility, political and
geopolitical instability and the Company's ability to access
sufficient capital from internal and external sources. The
foregoing and other risks are described in greater detail in the
"Risk Factors" section of the Company's Annual Information Form
dated March 25, 2021, which is
available on www.sedar.com. These factors are not intended to
represent a complete list of the factors that could affect Hut 8;
however, these factors should be considered carefully, and you
should not place undue reliance on any 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 are made as of the date of this press release,
and Hut 8 expressly disclaims any obligation to update or alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or circumstances, or otherwise, except
as required by law. New factors emerge from time to time, and
it is not possible for Hut 8 to predict all of these factors or to
assess in advance the impact of each such factor on Hut 8's
business or the extent to which any factor, or combination of
factors, may cause actual results to differ materially from those
contained in any 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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SOURCE Hut 8 Mining Corp