09:10:37 EST Tue 07 Feb 2023
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Taal Distributed Information Technologies Inc
Symbol TAAL
Shares Issued 35,829,510
Close 2021-05-27 C$ 4.57
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Hut 8 Mining adds Taal as hosting partner

2021-05-28 10:14 ET - News Release

See News Release (C-HUT) Hut 8 Mining Corp

Mr. Jaime Leverton of Hut 8 reports


Hut 8 Mining Corp. has formed a hosting partnership with enterprise blockchain transaction processor Taal Distributed Information Technologies Inc.

Hut 8 will provide physical hosting and optimization services and access to competitive electrical power for 960 newly purchased digital hashing computers owned by Taal. Hut 8 will also work with Taal to make its existing fleet more efficient. Under the terms of this deal, Taal will have 960 hashing computers, using 3.2 megawatts of Hut 8 power.

Hut 8's hosting and optimization services include equipment sourcing and logistics management, white-glove installation, a dedicated client success manager (CSM), and 24-hour-a-day/seven-day-a-week physical security and technical operation teams dedicated around the clock at each site.

"At Hut 8, we are focused on diversifying our revenue-generating business model and creating catalysts for growth," said Jaime Leverton, chief executive officer of Hut 8. "Strengthening our existing hosting services line of business with strategic partners is a growth focus for the company as we continue to see more institutional players expand their investments in digital asset mining. We strive to offer our partners a best-in-class North American based option for their hosting needs."

Taal operates exclusively on the BitcoinSV blockchain to support its blockchain transaction processing business. With this new hosting partnership, Taal expects its hash rate to be at least 450 petahashes per second, well ahead of its stated goals of anticipating winning at least 30 BitcoinSV blocks per day attributed to Taal.

"We are very pleased to be working with Hut 8 as we both share a dedication to excellence and having aligned core values of limiting our impact on the environment," commented Stefan Matthews, executive chairman and chief executive officer of Taal.

About Taal Distributed Information Technologies Inc.

Taal delivers value-added blockchain services, providing professional-grade, highly scalable blockchain infrastructure and transactional platforms to support businesses building solutions and applications upon the BitcoinSV platform; as well as developing, operating and managing distributed computing systems for enterprise users.

About Hut 8 Mining Corp.

Hut 8 is one of North America's oldest and largest innovation-focused bitcoin miners. Hut 8 has one of the highest installed capacity rates in the industry and is No. 1 globally in held, self-mined bitcoin of any crypto miner or publicly traded company. Recently ranked 11th (of 10,000) on the 2021 OTCQX Best 50 and the first publicly traded miner on the Toronto Stock Exchange, the Hut 8 leadership team is continually looking for ways to accelerate innovation in high performance computing and the blockchain ecosystem. The company is a steward of powerful, industry-leading solutions and a driver of innovation in digital asset mining and high performance computing. Hut 8 applies a growth mindset to its revenue diversification, ESG (environmental, social and governance) and carbon footprint reduction strategy. Hut 8 is a company committed to growing shareholder value regardless of BTC market direction.

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