To The Moon

$HUT 8 MINING CORP(HUTMF)$- Hut 8 Mining Bitcoin Holdings Surpass 3,012 Valued at $186M CAD published 18 Feb 2021.

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

Hut 8 Mining Corp. 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.