Hut 8 is the second highest installed capacity in the western hemisphere and holds more self-mined Bitcoin than any other publicly traded miner globally. The value and appreciation of those holdings is key to creating value for investors

TORONTO, Feb. 17, 2021 /CNW/ - Hut 8 Mining Corp. (TSX: HUT) announced that its bitcoin balance of 3,012 as of the end of day Tuesday, February 16 is valued at $186M Canadian.

Hut 8, one of North America's oldest and highest installed capacity Canada-based Bitcoin miner is pleased to announce the following results:

  • Hut 8 holds 3,012 bitcoin on its current balance sheet as of 5pm ET on Tuesday February 16, 2021, including 1,000 bitcoin in a Genesis savings account generating a 4% yield in fiat.
  • Hut 8 holds more self-mined bitcoin that any other publicly traded bitcoin miner in the world
  • Hut 8 currently has 1,073 petahash per second (PH/s) & 109 megawatts of power in production, making Hut 8 one of the highest installed capacity miners in the western hemisphere
  • Based on current network difficulty and Hut 8's current output, the bitcoin production is calculated at approximately 6.8 bitcoin per day

"Our commitment to 'hodling' bitcoin is at the core of our strategy in creating incremental value for Hut 8 investors," said Jaime Leverton, CEO, Hut 8. "I am proud of our position as a leading Bitcoin miner globally and celebrate our substantial bitcoin balance as a testament to the strength and efficiency of our mining and executive leadership teams. We will continue to manage our operations to prevent the need to sell any of the bitcoin we mine for the foreseeable future."

At present, Hut 8's stock is up by 438.5% year-to-date and its Alberta mining facilities are currently operating at 1073 PH/s, after a successful install of an additional 35 PH/s.
The miner has increased its power capacity to 109 megawatts, making Hut 8 the second highest installed capacity Bitcoin miner of the public companies in the Western Hemisphere.

About Hut 8: Hut 8 is one of Canada's oldest and largest bitcoin miners providing value for investors through low production costs and appreciation of its bitcoin inventory. The company provides investors with direct exposure to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. Investors avoid the need to create online wallets, wire money offshore, and safely store their bitcoin. 
The Company's common shares are listed under the symbol "HUT" on the TSX and as "HUTMF" on the OTCQX Exchange. 
Key investment highlights and FAQ's: https://www.hut8mining.com/investors. 
Keep up-to-date on Hut 8 events and developments and join our online communities at Facebook, Twitter, Instagram and LinkedIn. 

FORWARD-LOOKING STATEMENTS 
Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology, such as "plans", "targets", "expects" or "does not expect", "is expected", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Hut 8 as of the date of this press release, 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 Filing Statement dated March 1, 2018 relating to the Qualifying Transaction of Oriana Resources Corporation and Hut 8, which is available at 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. 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.
Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.  

SOURCE Hut 8 Mining Corp

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