Foundry selects Hut 8's data centre infrastructure for cloud
services
TORONTO, Aug. 2, 2022 /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, has signed a
partnership with Foundry Digital LLC ("Foundry"), a wholly-owned
subsidiary of Digital Currency Group Inc. ("DCG") focused on
digital asset infrastructure. The deal marks the first significant
Blockchain-industry win for Hut 8's high performance computing
business.
Hut 8 will support multiple lines of business for Foundry,
initially at the company's Mississauga,
Ontario data centre with plans to expand into the
Kelowna, British Columbia data
centre for infrastructure support across Canada. Foundry works with the North American
digital currency mining and staking industry bringing institutional
expertise, capital and market intelligence to help build
decentralized infrastructure.
"We are delighted to welcome Foundry, who we've long supported
through their digital asset mining pool, to our high performance
computing data centre in Mississauga,
Ontario," said Jaime
Leverton, CEO of Hut 8. "Foundry is a leader in the digital
asset industry, and we look forward to enabling their continued
growth with cutting-edge infrastructure."
"Hut 8 has been a trusted partner of Foundry's since 2020," said
Dan Magnuszewski, CTO of Foundry.
"As Bitcoin industry veterans with expertise in data centre
infrastructure, Hut 8 knows our industry intimately, which is why
they were a natural fit when we sought infrastructure
services."
About Foundry Digital
LLC
A subsidiary of DCG, Foundry Digital LLC was created to meet the
institutional demand for better capital access, efficiency, and
transparency in the digital asset mining and staking industry.
Headquartered in Rochester, NY,
Foundry leverages its institutional expertise, capital, and market
intelligence to empower participants within the crypto ecosystem by
providing the tools they need to build tomorrow's decentralized
infrastructure. For more information, please visit
foundrydigital.com.
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 digital asset mining sites located
in Southern Alberta and a third site in North Bay,
Ontario, all located
in Canada, Hut 8 has one of the highest capacity rates in the
industry and one of the highest inventories of self-mined Bitcoin
of any crypto miner or publicly traded company globally. With
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 expected
recurring revenue and growth rate from its high performance
computing business; the Company's ability to successfully navigate
the current market; and the scope of the services to be provided by
Hut 8 to Foundry Digital at Hut 8's Mississauga data centre, including the
proposed expansion of those services to the Kelowna data centre.
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 the
factors described in greater detail in the "Risk Factors" section
of the Company's Annual Information Form dated March 17, 2022,
and Hut 8's other continuous disclosure documents which are
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. 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 statements 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 statements 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 statements 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 otherwise, except as required by
law
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