Mr. Asher Genoot reports

HUT 8 AFFIRMS COMMITMENT TO RESPONSIBLE DATA CENTER DEVELOPMENT FOLLOWING DIRECTIVE FROM TEXAS GOVERNOR GREG ABBOTT

Hut 8 Corp. today affirmed its commitment to responsible data centre development and has welcomed the focus of the directive issued by Texas Governor Greg Abbott to the Public Utility Commission of Texas (PUCT) and the Electric Reliability Council of Texas (ERCOT).

The principles set forth in the directive are consistent with Hut 8's development model, which is grounded in responsible power and resource planning, pro-active management of local impacts, and early engagement with regulators and other stakeholders. That model has been shaped by years of developing and operating large-scale infrastructure in Texas across both behind-the-meter and front-of-the-meter projects within ERCOT.

Hut 8 today has approximately 1.5 gigawatts of utility capacity across operational and development sites in Texas, including large-scale behind-the-meter projects at King Mountain and Vega. Beacon Point, the company's AI (artificial intelligence) data centre campus under development in Nueces county, Texas, reflects the company's focus on responsible execution:

• Supporting a reliable grid: Hut 8 believes data centre development must support the reliability of the local grid. Hut 8's design for Beacon Point incorporates battery systems designed to mitigate voltage impacts and support reliable integration with the Texas grid.
• Protecting local water: Hut 8 designs its campuses so cooling does not compete with the water needs of local families, farms and businesses. Beacon Point will use a closed-loop cooling system filled with water sourced from outside Nueces county, not from the local water supply.
• Respecting neighbouring communities: Hut 8 integrates community considerations into project planning from the outset with the aim of minimizing impacts on the surrounding community. At Beacon Point, the company is pro-actively managing potential impacts through campus design, construction planning and co-ordination with local authorities.
• Engaging stakeholders early and extensively: Hut 8 engages regulators and communities early in the development process and incorporates their input into project planning and design. At Beacon Point, the company has engaged with neighbouring residents, local officials, educational institutions and economic development organizations. Hut 8 participated in the PUCT's voluntary data centre survey prior to the issuance of the governor's directive and will continue to co-operate fully with the PUCT and ERCOT as their review proceeds.

Asher Genoot, chief executive officer of Hut 8, said: "We applaud Governor Abbott for setting a clear standard that data centre development must strengthen Texas communities. Responsible growth requires developers to think beyond the data centre to the grid that powers their projects, the local resources around them and the communities that host them. That perspective has shaped how Hut 8 has built and operated in Texas since 2022, and we believe it will only grow in importance as the next generation of digital infrastructure is built across the state."

Community partnership across the Coastal Bend

Hut 8's commitment to responsible development has shaped its engagement across the Coastal Bend throughout the development of Beacon Point, from neighbouring residents to local government, schools and the regional economic development organization. The company has partnered with community stakeholders from the outset, with a focus on early dialogue, local priorities and lasting benefits for the region.

Aaron Bowman, CEO of Corpus Christi Regional Economic Development Corp., said: "We work with every major company that considers the Coastal Bend, and the difference with Hut 8 is how they have engaged with this community. Before construction began, they were knocking on the doors of the people who live closest to Beacon Point, listening to concerns and answering questions face to face. They have also backed that engagement with visible support for the community, including support for long-standing community traditions like Buc Days. They have been, and continue to be, a good neighbour. We are glad they chose this region, and we look forward to building with them."

Scot Hafley, superintendent of Calallen Independent School District, said: "Calallen ISD has been focused on understanding what the Beacon Point project will mean for our students, families, taxpayers and broader community. This represents a significant investment in our community and the potential to create meaningful opportunities for our students and families for years to come. Hut 8 has been willing to answer our questions directly and discuss issues that matter locally, including infrastructure, water, safety and work force opportunities. We appreciate their willingness to continue that dialogue openly with our board and community as we learn more about the project and its potential impact. Calallen ISD will continue to ask questions, work with our local and state partners, and advocate for the interests of our students, families and taxpayers. For generations, Texas has demonstrated that economic growth and responsible infrastructure development can go hand in hand. From energy production to manufacturing and technology, our state has grown by embracing opportunity while investing in the infrastructure necessary to support it. The growth of data centres and artificial intelligence infrastructure presents another significant opportunity for Texas. We recognize that this growth must occur responsibly, and that protecting the reliability of the Texas power grid must remain a priority."

Mark Escamilla, president and chief executive officer of Del Mar College, said: "Del Mar College is proud to support projects like Beacon Point that bring new energy and opportunity to Corpus Christi. Investments of this scale don't just diversify our regional economy -- they create real, lasting pathways for our students in high-demand fields like electrical systems, HVAC, industrial maintenance and data infrastructure. Hut 8 has been a genuine partner in this process, engaging directly with our faculty and work force programs to make sure the training we provide lines up with the jobs this campus will create. That kind of collaboration is exactly what strengthens our local work force and keeps opportunity here at home."

J.C. Hooper, Sheriff of Nueces County, said: "Hut 8 has made it clear that they want to be a good neighbor and an active partner here in Nueces County. We appreciate their willingness to invest in our community and support the organizations and people who call Nueces County home."

About Hut 8 Corp.

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure and compute at scale to fuel next-generation, energy-intensive technologies such as AI (artificial intelligence), high performance computing and ASIC (application-specific integrated circuit) compute. The company develops, commercializes, and operates industrial-scale energy and data centre infrastructure through a power-first, innovation-driven approach.

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