“Hut 8 Corp. signs Interim Agreement for New Mining Site in Texas\n\nMiami, FL – Hut 8 Corp. (NASDAQ:HUT), a leading provider of digital asset mining and high-performance computing infrastructure in North America, has announced plans to build and install a new mining site in Cedarvale, Texas. The site will be powered by over 215 MW of energy and house approximately 66,000 miners.\n\nThe agreement was made in connection with the Celsius Network LLC bankruptcy proceedings, with Hut 8 chosen as the partner for this project due to its strong managed services business and track record of efficiently running and optimizing operations. The company currently manages 680 MW of infrastructure and anticipates this number to grow to over 895 MW once the site is operational.\n\nUnder the interim agreement, Hut 8 will provide end-to-end development services for the Cedarvale site, including site design, engineering, financial modeling, budgeting, accounting, construction management, procurement, logistics, and RFP coordination. Construction is expected to begin in the coming weeks.\n\nHut 8 Corp. is a Miami-based company with a portfolio of eleven sites, including five high-performance computing data centers and six Bitcoin mining, hosting, and managed services sites. The company is focused on creating value at the intersection of infrastructure and energy through innovative technologies like AI and machine learning.\n\nWhile Hut 8 considers the forward-looking information in this press release to be reasonable, it is subject to known and unknown risks, uncertainties, and other factors that may cause actual results to differ materially from future results, performance, or achievements expressed or implied by such information. These factors include global economic conditions, dilution, the company’s limited operating history, and the need for continued technology change. Hut 8 also faces risks related to currency exchange, government regulation, network security, and reliance on key personnel.\n\nHut 8 Corp. has signed an interim agreement to build and install mining operations at a site in Cedarvale, Texas, with construction expected to begin in the coming weeks.”$HUT.TO2023-12-28T19:03:45.541Z
