Toronto, Ontario--(Newsfile Corp. - March 15, 2019) - Hut 8 Mining
Corp. (TSXV: HUT) (OTCQX: HUTMF) ("Hut 8" or the "Company"), one of the world's largest public cryptocurrency
mining companies by operating capacity and market capitalization, today announced that the Company had entered into a joint
development agreement (the "Agreement") with Induna Energy Inc. ("Induna," collectively with Hut 8, the
"Parties"), whereby the Parties agreed that 50% of Induna's invoice can be settled through the issuance of Hut 8 common
shares for the 2019 fiscal year. An initial tranche of 74,993 Hut 8 common shares have been issued as part of this Agreement. The
deemed price of the Hut 8 common shares to be issued pursuant to the Agreement will be determined after the date that Induna's
services are provided. All share issuances pursuant to this Agreement are subject to TSXV approval.
Since beginning its mining operations in December 2017, Hut 8 has mined over 7,500 bitcoins. Hut 8's current capital structure
consists of 86,273,335 common shares outstanding, 2,882,222 warrants and 965,000 options. In total, Hut 8 owns and operates two
sites in Alberta, Canada utilizing 85 BlockBox AC data centers with current operating capacity of 95.2 MW and 784 PH/s.
ABOUT HUT 8 MINING CORP.
Hut 8 Mining Corp., headquartered in Toronto, Canada, is a cryptocurrency mining company established through an exclusive
arrangement with the Bitfury Group, the world's leading full-service blockchain technology company. Through the Bitfury Group, Hut
8 has access to a world-leading proprietary mix of hardware, software and operational expertise to construct, optimize and manage
data centers 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.
Hut 8 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.
Hut 8 provides a secure and simple way to invest.
Key investment highlights and FAQ's: https://www.hut8mining.com/investors.
Keep up-to-date on Hut 8 events and developments and join our online communities at Facebook, Twitter, Instagram and LinkedIn.
Hut 8 Corporate Contact:
Andrew Kiguel
Chief Executive Officer
Tel: (647) 256-1992
Email: info@hut8mining.com
Jimmy Vaiopoulos
Chief Financial Officer
Tel: (647) 256-1992
Email: info@hut8mining.com
FORWARD-LOOKING STATEMENTS
Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all
cases, forward-looking information can be identified by the use of forward-looking terminology, such as "plans", "targets",
"expects" or "does not expect", "is expected", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or
"believes", or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would",
"might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections
or other characterizations of future events or circumstances contain forward-looking information. Statements containing
forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections
regarding future events.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered
reasonable by Hut 8 as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and
other factors that may cause the actual results, level of activity, performance or achievements to be materially different from
those expressed or implied by such forward-looking information, including but not limited to the factors described in greater
detail in the "Risk Factors" section of the Filing Statement dated March 1, 2018 relating to the Qualifying Transaction of Oriana
Resources Corporation and Hut 8, which is available at www.sedar.com.
These factors are not intended to represent a complete list of the factors that could affect Hut 8; however, these factors should
be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The
forward-looking statements contained in this press release are made as of the date of this press release, and Hut 8 expressly
disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions
underlying them, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/43454
