12:44:05 EDT Wed 21 Apr 2021
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Hut 8 Mining Corp
Symbol HUT
Shares Issued 112,562,357
Close 2021-02-16 C$ 8.67
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Hut 8 shareholder Bitfury Holding sells shares

2021-02-16 13:47 ET - News Release

Mr. Valery Vavilov of Bitfury Holding BV reports


Bitfury Holding BV sold 8,477,687 common shares of Hut 8 Mining Corp. The company also filed on Feb. 12, 2021, an intention to transfer, via secondary, an additional 8.5 million common shares of Hut 8. Bitfury intends to use the proceeds from such sales for accelerated research and development, specifically around its next-generation ASICs chip development, which will positively influence Bitfury's growing global ecosystems of customers and partners, inclusive of Hut 8. The proceeds will also be leveraged for bolstering Bitfury's capital structure.

"Since the incorporation of Hut 8, Bitfury has been a shareholder and key technology and service partner for Hut 8's data centres," shares Valery Vavilov, founder and chief executive officer of Bitfury. "Throughout this time, Hut 8 has continued to show growth and sustainable business practices, steadily building toward an independent and strong infrastructure despite challenging market conditions. Under CEO Jaime Leverton and her leadership, we have seen this momentum increase significantly and are confident this will continue as we move forward and continue to grow our partnership."

Since its inception in 2009, The Bitfury Group has been a leading full-service blockchain technology company and one of the largest private infrastructure providers in the blockchain ecosystem. The world's leading provider of large-scale digital asset infrastructure solutions with headquarters in Amsterdam and operations in the United Kingdom, Canada, Japan, Hong Kong, Korea, Norway, Georgia and Kazakhstan, Bitfury has designed seven generations of its own specialized microchips, and has deployed and operates several data centres for customers and its own operations in six countries. The World Economic Forum recognized Bitfury as technology pioneer in 2019. Forbes included Bitfury into its prestigious FinTech 50 lists in 2018 and 2019 and into the Forbes Blockchain 50 list in 2019 and 2020.

About The Bitfury Group

The Bitfury Group is the world's leading full-service blockchain technology company. Bitfury is building solutions for the future, with the most significant technologies of the millennium. Its mission is to make the world more transparent and trusted by innovating at every level of technology -- hardware, security and software -- to put trust back into the equation. Founded in 2011, Bitfury is the leading security and infrastructure provider for the bitcoin blockchain. In addition to securing the bitcoin blockchain, Bitfury also designs and produces innovative hardware that keeps cryptocurrencies and blockchains secure, including custom semiconductor chips and mobile data centres. Bitfury is also a software provider for some of the world's most cutting-edge applications through its Exonum private blockchain framework and its Crystal blockchain advanced analytics platform.

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