Company is innovating to support a positive
and more sustainable future; report includes data from HPC
operations
TORONTO, July 5, 2023 /PRNewswire/ -- 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 and high
performance computing infrastructure provider, today published its
2022 Environmental, Social, and Governance Report, its second
annual report following its inaugural 2021 findings. This report
highlights Hut 8's objectives to minimize its environmental
footprint while driving operational innovation. It also includes
the Company's high performance computing (HPC) business data for
the first time following the acquisition of five enterprise-grade
data centres last year.
"At Hut 8, we understand that our environmental, social, and
governance commitments are fundamental to who we are as a company,"
said Hut 8 CEO Jaime Leverton. "We take pride in taking a
proactive approach to protect the planet, support our communities
and people, and advance inclusive and transparent workplace
practices."
Key highlights of the report include:
Environment
- Continued commitment to achieving carbon neutrality by
2025
- Procured carbon instruments to offset 40% of our 2022 scope 1
and 2 emissions (up from 20% in 2021)
- HPC data centres in Ontario
and British Columbia reported a
carbon-free grid mix of 94% and 97%, respectively
- Diverted more than 94% of waste from landfills in 2022, up from
61% in 2021
- Partnered with ERS International to recycle 220 metric tonnes
of outdated machinery and earned 5,200 metric tonnes of carbon
dioxide-equivalent serialized carbon credits
- Renovated the flagship data centre in Kelowna with 100%
LED lighting and recycled and reused materials, including recycling
1,800 pounds of carpet tiles
Social
- Zero total recordable workplace safety incidents in 2022
- 43% of executive management roles are held by women; 29%
by BIPOC individuals
- Endorsed and donated to local and national organizations
including Hackergal, Medicine
Hat College, and the Drumheller Dragons Hockey Team
Governance
- Completed Hut 8's first Diversity and Inclusion survey to gain
an understanding of the BIPOC, age, and gender diversity
across the team
- 40% of Board of Director seats are held by women; 40%
by BIPOC individuals
Among Hut 8's chief ESG objectives is to advocate for employee
health, safety, and well-being while also establishing community
partnerships and committing to transparency. Over the past year,
Hut 8 has expanded operations while still keeping its ESG
commitments at the forefront.
In January 2022, Hut 8 completed
the acquisition of five traditional data centres, increasing the
mix of the Company's energy sources to include hydroelectric power.
Hut 8 also continued to work as a founding member of
the Bitcoin Mining Council to increase education, share key
data points, and promote best environmental practices on behalf of
the industry.
"We are an ESG leader in our space and we also know that
the more transparency we can bring to the industry, the more we can
help educate key stakeholders on best practices," said
Leverton.
The report was prepared in accordance with guidance provided by
the Sustainability Accounting Standards Board (SASB) and the Global
Reporting Initiative (GRI) and Ernst & Young LLP provided
limited assurances over certain disclosures contained in the
report.
For more detailed information on Hut 8's ESG goals,
accomplishments, and last year's report, please click here.
About Hut 8
Hut 8 is one of North America's largest
innovation-focused digital asset miners, led by a team of
business-building technologists, bullish on bitcoin, blockchain,
Web 3.0, and bridging the nascent and traditional high performance
computing worlds. With two operational digital asset mining sites
located in Southern Alberta, Hut 8 has one of the highest
capacity rates in the industry and one of the highest inventories
of self-mined Bitcoin of any digital asset miner or publicly-traded
company globally. With over 36,000 square feet of geo-diverse data
centre space and cloud capacity connected to electrical grids
powered by significant renewables and emission-free resources, Hut
8 is revolutionizing conventional assets to create the first hybrid
data centre model that serves both the traditional high performance
compute (Web 2.0) and nascent digital asset computing sectors,
blockchain gaming, and Web 3.0. Hut 8 was the first Canadian
digital asset miner to list on the Nasdaq Global Select Market.
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. In addition, any
statements in this press release that refer to expectations,
projections or other characterizations of future events or
circumstances contain forward-looking information and include,
among others, statements regarding: the Company's plans, goals,
targets, commitments and strategies to advance its environmental,
social and governance objectives, the steps the Company plans to
make to meet those objectives, the Company's strategy to ESG
alignment, and plans to expand on any ESG practices, the Company's
goal of achieving carbon neutrality by 2025, the Company's ability
to meet its diversity targets with respect to its Board of
Directors and management, the Company's ability to achieve future
ESG targets, and any other statements that are not historical
facts.
Statements containing forward-looking information are not
historical facts, but instead represent management's expectations,
estimates and projections regarding future events based on certain
material factors and assumptions at the time the statement was
made. While considered reasonable by Hut 8 as of the date of this
press release, such statements 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 but not limited to, security
and cybersecurity threats and hacks, malicious actors or botnet
obtaining control of processing power on the Bitcoin network,
further development and acceptance of the Bitcoin network, changes
to Bitcoin mining difficulty, loss or destruction of private keys,
increases in fees for recording transactions in the Blockchain,
erroneous transactions, reliance on a limited number of key
employees, reliance on third party mining pool service providers,
regulatory changes, classification and tax changes, momentum
pricing risk, fraud and failure related to digital asset exchanges,
difficulty in obtaining banking services and financing, difficulty
in obtaining insurance, permits and licenses, internet and power
disruptions, geopolitical events, uncertainty in the development of
cryptographic and algorithmic protocols, uncertainty about the
acceptance or widespread use of digital assets, failure to
anticipate technology innovations, the COVID-19 pandemic, climate
change, currency risk, lending risk and recovery of potential
losses, litigation risk, business integration risk, changes in
market demand, changes in network and infrastructure, system
interruption, changes in leasing arrangements, failure to achieve
intended benefits of power purchase agreements, potential for
interrupted delivery, or suspension of the delivery, of energy to
the Company's mining sites, and other risks related to the digital
asset and data centre business. For a complete list of the factors
that could affect the Company, please see the "Risk Factors"
section of the Company's Annual Information Form dated March 9, 2023, and Hut 8's other continuous
disclosure documents which are available on the Company's profile
on the System for Electronic Document Analysis and Retrieval at
www.sedar.com and on the EDGAR section of the U.S. Securities
and Exchange Commission's website at www.sec.gov.
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. There can be no assurance that such
estimates and assumptions will prove to be correct. Should one or
more of these risks or uncertainties materialize, or should
assumptions underlying the forward-looking information prove
incorrect, actual results may vary materially from those described
in this press release as intended, planned, anticipated, believed,
sought, proposed, estimated, forecasted, expected, projected or
targeted and such forward-looking information included in this
press release should not be unduly relied upon. The impact of any
one assumption, risk, uncertainty, or other factor on a particular
forward-looking statement cannot be determined with certainty
because they are interdependent and Hut 8's future decisions and
actions will depend on management's assessment of all information
at the relevant time. 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 alter
statements containing any forward-looking information, or the
factors or assumptions underlying them, whether as a result of new
information, future events or otherwise, except as required by
law.
Hut 8 Investor Relations: Sue Ennis, sue@hut8.io; Hut
8 Media Relations: Erin Dermer, erin.dermer@hut8.io
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