Articles from Hut 8 Corp.

Infrastructure upgrades near completion in advance of expected miner deliveries

Miner shipments expected to begin in January, marking key step in driving average fleet efficiency down to 19.9 J/TH

Reserve built through low-cost production and strategic at-market purchase

MIAMI, Dec. 18, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced that board member Amy Wilkinson has been named by the National Association of Corporate Directors (NACD) to the 2024 NACD Directorship 100. This annual award celebrates and recognizes the most influential directors and leaders in the corporate governance community, who have demonstrated excellence in the boardroom through innovation, courage, and integrity.

21.0 EH/s and 967 MW1,2 under management in mining with path to ~35 EH/s

MIAMI, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced three capital markets updates:

Strategic initiatives drive revenue growth, balance sheet strength, and competitive position across AI compute and Bitcoin mining

Upgrade expected to improve average fleet efficiency from 31.7 to 19.9 J/TH and increase self-mining hashrate by ~66%

20.1 EH/s and 967 MW under management in mining with path to ~35 EH/s

MIAMI, Oct. 24, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, will host a conference call and webinar on Wednesday, November 13, 2024 to review third quarter 2024 results.

19.5 EH/s and 762 MW under management in mining with path to 33.5 EH/s

Anchorage Digital converted entire ~$38 million loan balance to common shares at a price of $16.395 per share

1,000 NVIDIA H100 GPUs delivered to AI cloud developer

U3S21EXPH to be first ASIC miner mass-commercialized by BITMAIN with direct liquid-to-chip cooling within U form factor

18.5 EH/s and 762 MW under management in mining

Revenue of $35.2 million and 9,102 self-mined Bitcoin on balance sheet as of quarter end

Sean Glennan to join as CFO on August 21, 2024

18.0 EH/s and 762 MW under management in mining

MIAMI, July 24, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, will host a conference call and webinar on Tuesday, August 13, 2024 to review second quarter 2024 results.

Marks first transaction to convert from Hut 8’s previously announced development pipeline of 1,100 megawatts of energy capacity under exclusivity

17.8 EH/s and 762 MW under management $150 million investment from Coatue to support the buildout of next generation AI infrastructure platform

MIAMI, July 01, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, is pleased to announce it has closed its previously announced $150 million convertible note investment from a fund managed by Coatue Management, L.L.C. (“Coatue”).

MIAMI, June 27, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective at the open of U.S. equity markets on Monday, July 1st, 2024, according to a preliminary list of additions posted June 21st, 2024.

Funding will accelerate growth in Hut 8’s data center portfolio

Revenue of $51.7 million, Net Income attributable to Hut 8 Corp. of $250.9 million, and Adjusted EBITDA of $297.0 million

26.6 EH/s and 1.2 GW under management

Q2 2024 results expected to be released on August 13, 2024

Greenfield site energized in 78 days, less than three months after breaking ground

25.5 EH/s and 884 MW under management as Hut 8 executes closure of Drumheller site and prepares to energize Salt Creek site

Revenue of $60.6 million including $12.6 million from Managed Services

Q1 2024 results expected to be released on May 15, 2024

Company to move efficient miners to Medicine Hat site

27 EH/s and 926 MW under management as Company continues to increase operating scale and execute restructuring and optimization initiatives

63 MW site, planned to be energized in Q2, will be Hut 8’s newest North American mining operation

MIAMI, Feb. 15, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers has completed its previously announced stalking horse bid transaction (the "Transaction") to acquire four natural gas power plants in Ontario, Canada, in partnership with Macquarie Equipment Finance Ltd. (“Macquarie”), a subsidiary of Macquarie Group Limited, a global financial services group.

President Asher Genoot Appointed Chief Executive Officer

Purpose-built software and firmware improving operating efficiencies

Termination fee of $13,568,000 to be paid to Hut 8

Company providing end-to-end managed services for all of Ionic Digital’s mining operations, including four existing sites in Texas and Ionic’s Cedarvale site, where construction is underway

Prusak to depart January 31, 2024 to assume role as Chief Executive Officer of new bitcoin mining company to which Hut 8 will provide end-to-end managed services in connection with Celsius Network LLC bankruptcy proceedings

MIAMI, Jan. 24, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | 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 issued the following statement regarding a report from an activist short-selling firm containing false and misleading characterizations about Hut 8’s business.

MIAMI, Jan. 19, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | 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, is aware of a short report issued on January 18 by J Capital Research, which is a self-proclaimed group of biased activists who clearly disclose that they will profit if a company’s share price declines. Hut 8 is reviewing the report and will provide updates as the Company deems appropriate.

Ceremony marks the completion of the largest M&A transaction in the industry’s history

MIAMI, Jan. 12, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | 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, announced today that, together with its subsidiary, Hut 8 Mining Corp. (the “Borrower”), it has entered into an amendment and restatement of its credit facility (the “Credit Facility”) with a subsidiary of Coinbase Global, Inc. (Nasdaq: COIN) (“Coinbase”), as lender, in connection with the extension of an additional loan in the amount of US$15M (the “New Loan”) to the Borrower, increasing the aggregate principal amount of the loans under the Credit Facility to US$65 million.

MIAMI, Jan. 08, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers announces that it has received an approval and vesting order (the "Approval and Vesting Order") from the Ontario Superior Court of Justice (Commercial List) in the context of the ongoing proceedings pursuant to the Companies' Creditors Arrangement Act of Validus Power Corp. ("VPC") and certain of its subsidiaries (collectively, the "Validus Entities").

Company purchased 63 MW substation in Culberson County, Texas to support near term growth optionality

Company to manage five sites, 122,000 machines, and more than 300 MW of energy

Managed Services team to build out and install approximately 66,000 miners at 215MW site

MIAMI, Dec. 12, 2023 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), ("Hut 8” or the “Company”) one of North America’s largest, most innovative digital asset mining pioneers and high performance computing infrastructure providers, has been informed by KSV Restructuring Inc. ("KSV") that the Company's previously announced stalking horse bid (the "Stalking Horse Bid") has been declared the successful bid in accordance with a sale and investment solicitation process (the "SISP") carried out by KSV. The Stalking Horse Bid was submitted in partnership with Macquarie Equipment Finance Ltd. (“Macquarie”), a subsidiary of Macquarie Group Limited, a global financial services group.

Inaugural update of Hut 8 Corp. reflects breadth and depth of operations

Shares of Hut 8 Corp. common stock are expected to begin trading on Nasdaq and the TSX on December 4 under the ticker symbol “HUT”