Hut 8 concluding managed services at Kearney, Nebraska and Granbury, Texas in Q2

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GlobeNewswire

Published Feb 02, 2024  •  4 infinitesimal read

Termination interest of $13,568,000 to beryllium paid to Hut 8

MIAMI, Feb. 02, 2024 (GLOBE NEWSWIRE) — Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” aliases nan “Company”), 1 of North America’s largest, innovation-focused integer plus mining pioneers, and high-performance computing infrastructure supplier has negotiated an statement pinch nan caller owners of 2 of Hut 8’s managed services sites – Charlie successful Kearney, Nebraska, and Delta successful Granbury, Texas – which includes a $13,568,000 costs made to Hut 8 successful relationship pinch nan termination of nan spot guidance agreements astatine nan 2 sites.

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“We are very proud of nan activity we’ve done since taking complete guidance astatine nan Kearney and Granbury sites and want to admit nan unthinkable talent and dedication our teams connected nan crushed person demonstrated for much than a year,” said Asher Genoot, President of Hut 8. “We expect an orderly modulation of operations successful nan coming months and look guardant to providing updates astir our early plans arsenic we are capable to.”

Under nan termination statement signed January 30, 2024 pinch Marathon Digital Holdings, Hut 8 will proceed to supply managed services and behaviour self-mining activities astatine nan Charlie and Delta sites done April 30, 2024. The termination interest will beryllium paid wrong 30 days of nan termination date.

About Hut 8
Through innovation, imagination, and passion, Hut 8 Corp.’s seasoned executive squad is bullish connected creating worth astatine nan intersection of infrastructure and power done Bitcoin mining and hosting, groundbreaking managed services, power arbitrage, operating accepted information centers, and capitalizing connected emerging technologies for illustration AI and instrumentality learning. Headquartered successful Miami, Florida, Hut 8 Corp.’s infrastructure portfolio includes eleven sites: five high capacity computing information centers crossed British Columbia and Ontario that connection cloud, co-location, AI, instrumentality learning, and VFX rendering computing solutions, and six Bitcoin mining, hosting, and managed services sites located successful Alberta, New York, Nebraska, and Texas. Long-distinguished for its unsocial treasury strategy, Hut 8 Corp. has 1 of nan highest inventories of self-mined Bitcoin of immoderate publicly-traded institution globally. For much information, sojourn www.hut8.com and travel america connected X (formerly known arsenic Twitter) astatine @Hut8Corp.

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Cautionary Note Regarding Forward-Looking Information
This property merchandise includes “forward-looking information” and “forward-looking statements” wrong nan meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward-looking information”). All information, different than statements of humanities facts, included successful this property merchandise that reside activities, events aliases developments that Hut 8 expects aliases anticipates will aliases whitethorn hap successful nan future, including specified things arsenic early business strategy, competitory strengths, goals, description and maturation of nan business, operations, plans and different specified matters is forward-looking information. Forward-looking accusation is often identified by nan words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” aliases akin expressions. Specifically, specified forward-looking accusation included successful this property merchandise includes, but is not constricted to, statements relating to nan termination of managed services agreements covering Kearney, Nebraska and Granbury, Texas.

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Statements containing forward-looking accusation are not humanities facts, but alternatively correspond management’s expectations, estimates and projections regarding early events based connected definite worldly factors and assumptions astatine nan clip nan connection was made. While considered reasonable by Hut 8 arsenic of nan day of this property release, specified statements are taxable to known and chartless risks, uncertainties, assumptions and different factors that whitethorn origin nan existent results, level of activity, capacity aliases achievements to beryllium materially different from those expressed aliases implied by specified forward-looking information, including but not constricted to, information and cybersecurity threats and hacks, malicious actors aliases botnet obtaining power of processing powerfulness connected nan Bitcoin network, further improvement and acceptance of nan Bitcoin network, changes to Bitcoin mining difficulty, nonaccomplishment aliases demolition of backstage keys, increases successful fees for signaling transactions successful nan Blockchain, erroneous transactions, reliance connected a constricted number of cardinal employees, reliance connected 3rd statement mining excavation work providers, regulatory changes, classification and taxation changes, momentum pricing risk, fraud and nonaccomplishment related to integer plus exchanges, trouble successful obtaining banking services and financing, trouble successful obtaining insurance, permits and licenses, net and powerfulness disruptions, geopolitical events, uncertainty successful nan improvement of cryptographic and algorithmic protocols, uncertainty astir nan acceptance aliases wide usage of integer assets, nonaccomplishment to expect exertion innovations, nan COVID19 pandemic, ambiance change, rate risk, lending consequence and betterment of imaginable losses, litigation risk, business integration risk, changes successful marketplace demand, changes successful web and infrastructure, strategy interruption, changes successful leasing arrangements, nonaccomplishment to execute intended benefits of powerfulness acquisition agreements, imaginable for interrupted delivery, aliases suspension of nan delivery, of power to nan Company’s mining sites, and different risks related to nan integer plus and information halfway business. For a complete database of nan factors that could impact nan Company, please spot nan “Risk Factors” conception of nan Company’s Registration Statement connected Form S-4 dated November 7, 2023, disposable nether nan Company’s EDGAR floor plan astatine www.sec.gov, and Hut 8’s different continuous disclosure documents which are disposable nether nan Company’s SEDAR+ floor plan astatine www.sedarplus.ca and nether nan Company’s EDGAR floor plan astatine www.sec.gov.

Hut 8 Corp. Investor Relations
Sue Ennis
[email protected]

Hut 8 Corp. Media Relations
Erin Dermer
[email protected] 


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