Bitfury Partner News: Hut 8 Starts Trading on TSXV, Becoming One of the World’s Largest Publicly Traded Cryptocurrency Miners
Vancouver, B.C., March 6, 2018 — Hut 8 Mining Corp. (TSX.V:HUT) (“Hut 8” or the “Company”) today began trading on the TSX Venture Exchange (“TSXV”) under the ticker HUT. With this listing, Hut 8 is now believed to be the world’s largest publicly-traded cryptocurrency mining operation based on funded and under-construction computing capacity. Hut 8 currently operates mines representing 18.7 MW of capacity with additional facilities under construction for total funded capacity of 62.7 MW.
“Today’s listing on the TSXV is a milestone for Canadian investors, who can now access the world’s largest publicly traded crypto mine, without purchasing the underlying cryptocurrency,” said Sean Clark, CEO of Hut 8. “In crypto mining, scale is what determines success in the short term, but is also what allows mines to weather any volatility over the long term, and as such, we’re able to deliver ongoing value to investors.”
At present, Hut 8 has 100,000 machines in operation representing 18.7 MW of power capacity and 127.5 peta hashes per second (“PH/s”) of computing power. Based on current purchase indications, capital raised, and construction plans, Hut 8 expects to have 320,000 machines operational within six months representing 62.7 MW of power capacity and 427.5 PH/s of computing power.
Hut 8 has also reserved both ASIC and GPU chips from the Bitfury Group to fulfill up to an additional 157 MW in 2018. Hut 8’s facilities currently operate on power secured at an average price of 3.5 cents per kWh. Through its strategic partnership with the Bitfury Group, the world’s leading full-service blockchain company, Hut 8 has access to a proprietary mix of hardware, software, installation and operational services.
“Listing on the TSX Venture Exchange is a milestone for the growth of blockchain and cryptocurrency companies,” said Valery Vavilov, CEO of the Bitfury Group. “We look forward to continuing our work with Hut 8 as we advance this technology and its value in North America.”
Venture capitalist and leading world figure in blockchain, Bill Tai, has been announced as the Chair of the Board of Hut 8, along with board members Jeffrey Mason, Gerri Sinclair, Dennis Mills, Michael Novogratz and Valery Vavilov. Filling the role of Hut 8’s Chief Financial Officer and Corporate Secretary is Kyle Appleby.
Hut 8 has a total of 82.38 million common shares issued and outstanding and a total of 1.374 million common share purchase warrants outstanding.
About Hut 8:
Hut 8 was incorporated under the BCBCA on November 15, 2017. Hut 8 is a cryptocurrency mining and Blockchain infrastructure company established through an exclusive partnership with the Bitfury Group, the world’s leading full-service Blockchain technology company. Hut 8 currently owns bitcoin mining datacenters representing 62.7 MW and 427.5 PH/s that are in operation or construction, with a pipeline of acquisition and development opportunities across North America.
Through its partnership with the Bitfury Group, Hut 8 has access to a proprietary mix of hardware, software, and operational know-how to construct, optimize, and manage datacenters in low-cost and attractive jurisdictions. Hut 8 is led by a team of industry experts and intends to provide investors with exposure to Blockchain processing infrastructure and technology along with underlying cryptocurrency rewards and transaction fees.
About the Bitfury Group:
The Bitfury Group is the world’s leading full-service Blockchain technology company and one of the largest private infrastructure providers in the Blockchain ecosystem. Bitfury develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain. Bitfury recently launched Exonum, a custom framework that helps individuals, businesses and governments securely and easily bring their ideas and solutions to life.
Hut 8 Media Contact:
Brix Media Co.
Bitfury Media Contact: