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He replaces Shenif Visram Shane Downeyeffective immediately
This press release constitutes a “designated press release” for purposes of the company’s prospectus supplement dated as of the date August 17, 2022it dates to its short form of the base prospectus August 5, 2022.
TORONTO, December 12, 2022 /PRNewswire/ – Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), (“Hut 8” or the “Company”) one of North America the largest, innovation-focused digital asset mining pioneer and provider of high-performance computing infrastructure, is pleased to announce the appointment of Shenif Visram, CPA, CMA as the company’s Chief Financial Officer (CFO), effective immediately. With more than 20 years of financial management experience in infrastructure and technology businesses, Shenif brings a wealth of leadership expertise working in medium and large public and private companies.
Shenif, which will be located in Toronto and will report to the Director General Jaime Levertonreplaces the financial director of Hut 8 Shane Downeywho continues to seek new opportunities after 20 months with the organization.
“With deep financial experience at IBM Canada, Cogeco Peer 1 and Aptum Technologies, Shenif is a senior leader with excellent financial acumen and the skills we need to lead us through the next key period of growth at Hut 8,” said Jaime Leverton, Chief Executive Officer Hut 8 “The board and I would like to thank Shane for his dedication during a significant period of change at Hut 8, including the strategic expansion of our business into high performance computing.”
Sheniff began his finance career at IBM Canada, rapidly advancing to assume CFO roles in key business units including Global Business Services, Global Technology Services, and leading as Chief Operating Officer of Global Business Services. He then moved to Cogeco Peer 1 as Vice President of Finance, before assuming the role of CFO, leading the rebranding of the company into Aptum Technologies, a multi-cloud managed services provider delivering complex, high-performance computing solutions.
“I am incredibly excited to be working with a team of seasoned executives with a strong track record in this exciting industry,” said Sheniff. “Leveraging my previous experience in M&A and driving growth in the infrastructure technology space, I am eager to make a significant contribution to Hut 8 by building on our established balance sheet-first approach while continuing to successfully navigate the market using our differentiated strategies and grow as leader in Bitcoin mining and high performance computing”.
About the hut 8
Hut 8 is one of the North America the largest digital asset miners focused on innovation, led by a team of business-building technologists, willing to bitcoin, blockchain, Web 3.0 and bridging the new and traditional high performance computing worlds. With two digital asset mining sites located in Southern Alberta and third place in North Bay, Ontarioall are located in CanadaHut 8 has one of the highest capacity rates in the industry and one of the largest unencumbered inventories Bitcoin of any digital asset miner or publicly traded company worldwide. With 36,000 square feet of geo-diverse data center space and grid-connected cloud capacity powered by significant renewable and emission-free resources, Hut 8 is revolutionizing conventional assets to create the first hybrid data center model that also serves traditional high performance. compute (Web 2.0) and the emerging computing sectors of digital assets, blockchain gaming and Web 3.0. Hut 8 was the first Canadian digital asset miner to list on the Nasdaq Global Select Market. Through innovation, imagination and passion, Hut 8 is helping to define the digital asset revolution to create value and positive impact for its shareholders and generations to come.
Caution regarding forward-looking information
This press release includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and America securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical fact, included in this press release relating to activities, events or developments that the Company expects or anticipates will or may occur in the future, including such matters as future business strategy, competitive forces , goals, business expansion and growth, operations, plans and other similar matters are forward-looking information. Forward-looking information is often identified by the words “may,” “would,” “could,” “should,” “will,” “intended,” “planned,” “anticipated,” “allowed,” “believed,” “estimate”, “expect”, “anticipate”, “may”, “may”, “potential”, “anticipate”, “is designed for”, “likely” or similar expressions. In addition, any statements in this press release that relate to expectations, projections or other characterizations of future events or circumstances contain forward-looking information and include, among other things, statements regarding: Bitcoin network dynamics; the company’s ability to advance its long-standing HODL strategy; the company’s ability to produce additional Bitcoin and maintain existing productivity rates at all locations; the Company’s ability to hire additional miners; the Company’s ability to continue to effectively mine digital assets; the company’s expected ongoing revenue and growth rate from its high performance computing business; and the Company’s ability to successfully navigate the current market.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement is made. Although Hut 8 believes they are reasonable as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by such forward-looking information, including, but not limited to, security and cybersecurity threats and hacks, malicious actors or botnets gaining control of processing power on Bitcoin networks, further development and acceptance Bitcoin networks, changes in Bitcoin mining difficulties, loss or destruction of private keys, increasing fees for recording transactions on the blockchain, erroneous transactions, reliance on a limited number of key employees, reliance on third-party mining pool service providers, regulatory changes, classifications and tax changes, momentum Pricing risk, fraud and failure related to the exchange of digital assets, difficulties in obtaining banking services and financing, difficulties in obtaining insurance, permits and licenses, internet and power outages, geopolitical events, uncertainty in the development of cryptographic and algorithmic protocols, uncertainty about the acceptance or widespread use of digital assets, unpredictability of technological innovations, the COVID-19 pandemic, climate change, currency risk, credit risk and recovery of potential losses, litigation risk, business integration risk, changes in market demand, network and infrastructure changes, system outages, non-achievement of planned uses o f ug information on the purchase of electricity; the possibility of interruption of supply or suspension of supply of energy to the Company’s mining sites; changes in leasing arrangements and other risks related to the operation of digital assets and data centers. For a complete list of factors that may affect the Company, see the “Risk Factors” section of the Company’s Annual Information Form dated March 17, 2022and other documents for continuous disclosure of Hut 8 which are available on the Company’s profile on the System for electronic analysis and download of documents at www.sedar.com and on the EDGAR section of the US Securities and Exchange Commission’s website at www.sec.gov.
These factors are not intended to represent a complete list of factors that may affect Hut 8; however, these factors should be carefully considered. There can be no assurance that such estimates and assumptions will prove to be correct. If one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove incorrect, actual results may differ materially from those described in this press release as intended, planned, expected, believed , requested, proposed, estimated, forecasted, expected, projected or targeted and such forward-looking statements included in this press release should not be unduly relied upon. The impact of any assumption, risk, uncertainty or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Hut 8’s future decisions and actions will depend on management’s assessment of all information at the relevant time. 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 change any forward-looking statements, or factors or assumptions on on which they are based, whether as a result of new information, future events or otherwise, except in accordance with the law.
SOURCE Hut 8 Mining Corp
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