Ms. Sue Ennis reports

HUT 8 PROVIDES UPDATE ON BUSINESS COMBINATION WITH USBTC

Hut 8 Mining Corp. is continuing to make progress on the proposed business combination pursuant to which Hut 8 and U.S. Data Mining Group Inc. (U.S. Bitcoin Corp. (USBTC)) will combine in an all-stock merger of equals. The combined company will be named "Hut 8 Corp." ("New Hut") and will be a U.S.-domiciled entity. The Transaction is expected to establish New Hut as a large scale, publicly traded Bitcoin miner focused on economical mining, highly diversified revenue streams, and industry leading environmental, social, and governance (ESG) practices.

New Hut has filed a further amendment to its Form S-4 Registration Statement (the "Amended S-4 Registration Statement") with the U.S. Securities and Exchange Commission (the "SEC").

Completion of the Transaction remains subject to the remaining regulatory approvals, approval of the stockholders of USBTC and other customary closing conditions of the transaction.

About Hut 8

Through innovation, imagination, and passion, Hut 8's seasoned executive team is bullish on building and operating computing infrastructure that powers Bitcoin mining, traditional data centres, and emerging technologies like AI and machine learning. Hut 8's infrastructure portfolio includes seven sites: five high performance computing data centres across British Columbia and Ontario that offer cloud, co-location, managed services, AI, machine learning, and VFX rendering computing solutions, and two Bitcoin mining sites located in Southern Alberta. 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. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Mining.

We seek Safe Harbor.