Mr. Asher Genoot reports

HUT 8 GPU-AS-A-SERVICE VERTICAL GOES LIVE WITH INAUGURAL DEPLOYMENT

Hut 8 Corp.'s GPU-as-a-service (graphics processing unit) vertical has begun generating revenue as the inaugural GPU cluster for an AI (artificial intelligence) cloud developer comes fully on-line.

The cluster, hosted at a Tier 3 data centre in Chicago, comprises multiple Hewlett Packard Enterprise (HPE) Cray supercomputers powered by 1,000 NVIDIA H100 GPUs. Hut 8 partnered with HPE and AdvizeX to design, configure and commission the cluster, which is being launched under Hut 8's subsidiary, Highrise AI Inc. Hut 8's five-year agreement with the AI cloud developer provides for fixed infrastructure payments plus revenue sharing.

"The launch of our GPU-as-a-service vertical further diversifies our compute layer, which now spans AI compute, bitcoin mining and traditional cloud services," said Asher Genoot, chief executive officer of Hut 8. "Consistent with our commitment to disciplined capital allocation, we believe a thoughtfully structured AI compute business will be accretive both financially and strategically and drive top-line growth, revenue diversification and long-term value creation."

"We are thrilled to support the launch of Hut 8's GPU-as-a-service offering, in collaboration with our trusted partner AdvizeX, through the delivery of world-class high performance computing solutions," said Jerome Boucher, vice-president and general manager, HPC and AI solutions, North America, of HPE. "We look forward to extending our expertise in building the world's fastest supercomputers to support Hut 8's ambition to offer state-of-the-art GPU-as-a-service capabilities to its customers."

As part of its strategy to build a next-generation energy infrastructure platform, Hut 8 continues to scale its compute layer across energy-intensive technologies with the aim of maximizing returns on its portfolio of power assets and digital infrastructure.

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About Hut 8 Corp.

Hut 8 is an energy infrastructure operator and bitcoin miner with self-mining, hosting, managed services and traditional data centre operations across North America. Headquartered in Miami, Fla., Hut 8 has a portfolio comprising 20 sites: 10 bitcoin mining, hosting and managed services sites in Alberta, New York and Texas; five high performance computing data centres in British Columbia and Ontario; four power generation assets in Ontario; and one newly announced site in the Texas panhandle.

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