Inaugural update of Hut 8 Corp. reflects breadth and depth of operations
At 9,129 BTC, Hut 8 continues to have one of the largest self-mined Bitcoin reserves of any publicly traded company
Hut 8’s expanded digital asset mining geographical footprint now includes the following sites:
Owner | Energy Capacity | Self-Mining | Managed Services | Hosting | ||
Alpha | Hut 8 | 50 MW | Yes | Yes | ||
Charlie | Managed1 | 100 MW | Yes | Yes | ||
Delta | Managed1 | 300 MW | Yes | Yes | ||
Echo | Joint Venture2 | 280 MW | Yes | Yes | Yes | |
Foxtrot | Hut 8 | 67 MW | Yes | |||
Golf | Hut 8 | 42 MW | Yes |
Notes:
(1) Hut 8’s Managed Services subsidiaries lead all aspects of site operations, including accounting, curtailment, and customer relations at the Charlie and Delta sites, which are owned by a multi-billion dollar AUM sustainable infrastructure investment firm. The Managed Services subsidiaries also lead all aspects of site operations at the Echo site.
(2) The Company has a 50% membership interest in the Echo site. The remaining 50% membership interest is held by a Fortune 200 renewable energy producer.
“Our first operations report since completing our merger at the end of November not only showcases the diversification of our power and business portfolios across our North American-wide operations, but it also quantifies the significant scale that our business combination has created,” said
Hut 8 Corp. | USBTC | ||
Total energy capacity under management | 839 MW1 | 109 MW | 730 MW1 |
Total deployed miners under management | 207,3992 | 28,750 | 181,3292 |
Total hashrate under management | 21.6 EH/s3 | 2.6 EH/s | 18.6 EH/s3 |
Self-Mining4 | |||
Deployed miners5 | 75,078 | 28,750 | 46,225 |
Deployed hashrate6 | 7.3 EH/s | 2.6 EH/s | 4.7 EH/s |
Bitcoin produced | 390 BTC | 112 BTC | 280 BTC |
Bitcoin on balance sheet7 | 9,129 BTC | 9,113 BTC | 28 BTC |
Managed Services8 | |||
Energy capacity under management | 680 MW | N / A | 680 MW |
Deployed miners under management | 166,775 | N / A | 169,451 |
Hashrate under management | 17.9 EH/s | N / A | 17.6 EH/s |
Hosting | |||
Deployed miners under management | 76,737 | N / A | 76,741 |
Hashrate under management | 8.6 EH/s | N / A | 8.0 EH/s |
Notes:
(1) Includes all Self-Mining, Managed Services, and Hosting infrastructure, including 100% of the energy capacity at the Echo site.
(2) Includes all miners that are racked in Self-Mining, Managed Services, and Hosting infrastructure with power and networking, including all miners at the Echo site.
(3) Includes all Self-Mining, Managed Services, and Hosting hashrate, including 100% of the hashrate at the Echo site.
(4) Self-Mining operations for Hut 8 Corp. and USBTC include all operations at the Echo site.
(5) Deployed miners are defined as miners that are physically racked, with power and networking.
(6) Indicates the target hashrate of all deployed miners.
(7) As of month-end.
(8) The Managed Services figures reflected in this table include the Self-Mining and Hosting metrics from the sites where Hut 8’s Managed Services business is an additional service layer in the operation of the site (at Charlie, Delta, and Echo). As a result, the sum of the Self-Mining, Managed Services, and Hosting numbers will not add up to the “Total energy capacity under management”, “Total deployed miners under management”, and “Total hashrate under management” figures that are also reflected in the table.
Highlights:
- On
November 30 ,Hut 8 Mining Corp. and USBTC announced the completion of their previously announced business combination pursuant to which the companies combined in an all-stock merger of equals (the “Transaction”) to form Hut 8 Corp, aU.S. -domiciled entity, which began trading under the stock symbol HUT on theNasdaq and Toronto Stock Exchange onDecember 4 . - The operations team began piloting the Company’s purpose-built software at Hut 8’s Foxtrot facility in
Medicine Hat and Golf site inDrumheller in late November, providing us with more granular reporting on the health and efficiency of our fleet and infrastructure. - In mid-November, Hut 8 launched its high performance computing
Cloud Portal , which gives new and existing HPC clients direct access to Hut 8 GPUs and seamless control to provision workloads in just minutes through an intuitive web interface.
About Hut 8
Through innovation, imagination, and passion, Hut 8 Corp.’s seasoned executive team is bullish on creating value at the intersection of infrastructure and energy through Bitcoin mining and hosting, groundbreaking managed services, energy arbitrage, operating traditional data centers, and capitalizing on emerging technologies like AI and machine learning. Headquartered in
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
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 ability to realize the anticipated benefits of the Transaction or implement the business plan for the Company, including as a result of difficulty in integrating the businesses of the companies involved (including the retention of key employees); the ability to realize synergies and cost savings, and to the extent, anticipated; the potential impact of the Transaction on mining activities; the potential impact of the announcement of consummation of the Transaction on relationships, including with regulatory bodies, employees, suppliers, customers, competitors and other key stakeholders; 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; 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; 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 mining sites; failure to implement business plans, forecasts, and other expectations; and failure to identify and realize additional opportunities and other risks related to the digital asset mining and data centre business. For a complete list of the factors that could affect Hut 8, please see the “Risk Factors” section of Hut 8’s Registration Statement on Form S-4 dated
Hut 8 Corp. Investor Relations
sue@hut8.io
Hut 8 Corp. Media Relations
erin.dermer@hut8.io
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