Mr. Asher Genoot reports

HUT 8 CONCLUDING MANAGED SERVICES AT KEARNEY, NEBRASKA AND GRANBURY, TEXAS IN Q2

Hut 8 Corp. has negotiated an agreement with the new owners of two of Hut 8's managed services sites -- Charlie in Kearney, Neb., and Delta in Granbury, Tex., which includes a $13,568,000 payment made to Hut 8 in connection with the termination of the property management agreements at the two sites.

"We are very proud of the work we've done since taking over management at the Kearney and Granbury sites and want to recognize the incredible talent and dedication our teams on the ground have demonstrated for more than a year," said Asher Genoot, president of Hut 8. "We anticipate an orderly transition of operations in the coming months and look forward to providing updates about our future plans as we are able to."

Under the termination agreement signed Jan. 30, 2024, with Marathon Digital Holdings, Hut 8 will continue to provide managed services and conduct self-mining activities at the Charlie and Delta sites through April 30, 2024. The termination fee will be paid within 30 days of the termination date.

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 such as AI (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 (visual effects) 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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