Ms. Sue Ennis reports

HUT 8 ANNOUNCES US$65 MILLION AMENDED AND RESTATED CREDIT FACILITY WITH COINBASE

Hut 8 Corp., together with its subsidiary, Hut 8 Mining Corp. (the borrower), has entered into an amendment and restatement of its credit facility with a subsidiary of Coinbase Global Inc., as lender, in connection with the extension of an additional loan in the amount of $15-million (U.S.) to the borrower, increasing the aggregate principal amount of the loans under the credit facility to $65-million (U.S.).

The new loan is expected to be used for general corporate purposes and financed at or shortly following closing.

All amounts borrowed under the credit facility will bear interest at a rate equal to (a) the greater of (i) the federal funds rate on the date of the applicable borrowing, and (ii) 3.25 per cent, plus (b) 5 per cent. The credit facility matures 364 days after the date of the first borrowing.

The obligations under the credit facility are secured by the borrower's interest in certain bitcoin held in the custody of Coinbase Custody Trust Company LLC and are guaranteed by the company.

About Hut 8 Corp.

Through innovation, imagination and passion, Hut 8'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 centres, and capitalizing on emerging technologies like artificial intelligence and machine learning. Headquartered in Miami, Fla., Hut 8's infrastructure portfolio includes 11 sites: five high-performance computing data centres across British Columbia and Ontario that offer cloud, co-location, AI, machine learning and VFX rendering computing solutions, and six bitcoin mining, hosting and managed services sites located in Alberta, New York, Nebraska and Texas. Long distinguished for its unique treasury strategy, Hut 8 has one of the highest inventories of self-mined bitcoin of any publicly traded company globally.

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