Financial Data and Key Metrics Changes - Hut 8 Mining Corp achieved record revenue of CAD173.8 million for 2021, more than tripling from CAD40.7 million in 2020, driven by strong mining activity and increased hash rate [8][9] - The company recorded a net loss of CAD72.7 million for 2021, compared to a net income of CAD19 million in 2020, primarily due to non-operational accounting treatments [16][27] - Adjusted EBITDA for 2021 was CAD96.6 million, a significant improvement from negative adjusted EBITDA of CAD0.2 million in 2020 [20] Business Line Data and Key Metrics Changes - Revenue from mining activities was CAD165.4 million, with 2,786 new Bitcoin mined at an average price of approximately CAD59,400 per Bitcoin [9] - The hosting business generated CAD8.4 million in revenue, up from CAD1.7 million in the prior year, benefiting from onboarding a second customer [10] Market Data and Key Metrics Changes - The cost of revenue for the year was CAD85 million, an increase from CAD59.2 million in the prior year, driven by higher site operating costs and increased depreciation expense [11] - General and administrative costs rose to CAD40.3 million from CAD5.1 million in the prior year, reflecting strategic investments in management and corporate practices [13] Company Strategy and Development Direction - The company is focused on diversifying its operations, including mining Ethereum and expanding its infrastructure through the acquisition of TeraGo's Data Center and Cloud Business [33][36] - Hut 8 aims to achieve a hash rate goal of 6 exahash over the balance of the year, with ongoing evaluations of supply chain opportunities for new mining equipment [45] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position for continued growth, citing strong operating results and strategic capital investments [6] - The company is committed to leveraging its Bitcoin holdings and exploring non-dilutive measures to enhance liquidity [28][30] Other Important Information - As of December 31, 2021, Hut 8 held 3,518 Bitcoin in custody and 2,000 Bitcoin subject to lending arrangements, totaling CAD323.9 million in Bitcoin holdings [30] - The company recorded a CAD57.9 million unrealized gain on digital assets, contributing to an other comprehensive loss of CAD14.9 million for 2021 [20] Q&A Session Summary Question: What is your mining production plan for the rest of the year? - Management indicated that the third site in North Bay is nearing completion and expected to add over 1 exahash of incremental compute [44] Question: What is your vision for the TeraGo acquisition in the next one to two years? - Management stated that they will continue to drive growth through both organic and inorganic means, evaluating opportunities on a case-by-case basis [46] Question: How do you view capital allocation between mining, hosting, and the data center business? - Management noted that the capital requirements for mining and data centers are fundamentally different, and they will deploy capital based on market opportunities [54] Question: What is the expected impact of the North Bay facility on cost per coin? - Management acknowledged that while the North Bay facility could potentially lower costs, it is difficult to predict due to the variability in global network hashrate and difficulty [62] Question: How much did Ethereum mining contribute recently? - Management confirmed that Ethereum mining still contributes significantly, but they are prepared to shift to the next most profitable blockchain if necessary [67]

Call Start: 10:00 January 1, 0000 11:04 AM ET | --- | --- | |--------------------------------------------------------------------------------------------|-------| | | | | Hut 8 Mining Corp. (NASDAQ:HUT) Q3 Earnings Conference Call November 11, 2021, 10:00 AM ET | | | | | | Company Participants | | | Shane Downey – Chief Financial Officer Jaime Leverton – Chief Executive Officer | | | Conference Call Participants | | | Joseph Vafi – Analyst | | | Chris Brendler – Analyst George Clinton – Analyst | | | Kevin ...

HUT 8 Company Overview November 2021 | --- ...

Hut 8 Mining Corp. (NASDAQ:HUT) Q2 2021 Earnings Conference Call August 12, 2021 10:00 AM ET Company Participants Jaime Leverton – Chief Executive Officer Shane Downey – Chief Financial Officer Conference Call Participants Kevin Dede – H.C. Wainwright Operator Welcome to the Q1 Earnings Release Conference Call. My name is John. I'll be your operator for todayÂ's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session. [Operator Instructions] Now I ...

HTT Company Overview August 11th 2021 Disclaimer This management presentation is intended to provide an overview of the business of Hut 8 Mining Corp. ("Hut 8" or the "Company"). This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or subscribe for securities of the Company or any of its subsidiaries in any jurisdiction or an inducement to enter into investment activity. No part of this presentation, nor the fa ...

Hut 8 Mining Corporate Update [Hashrate Capacity Expansion](index=1&type=section&id=Hashrate%20Capacity%20Expansion) Hut 8 acquired MicroBT miners for $44.373 million, projected to boost total hashrate capacity to **2.5 E/H** by late 2021 for a new **100 MW** facility MicroBT Miner Purchase Agreement Details | Metric | Value | | :--- | :--- | | **Seller** | SuperAcme Technology (Hong Kong) Limited | | **Purchase Price** | $44.373 million USD | | **Equipment** | MicroBT M30S, M30S+ and M31S miners | | **Cost per Terahash** | ~$44/Terahash | | **Expected Delivery** | Starting October 2021 | | **Full Deployment** | Anticipated by December 2021 | - The total anticipated production capacity increase from this and another recent purchase is **1.081 E/H**, which will bring Hut 8's total installed capacity to approximately **2.5 E/H**[3](index=3&type=chunk) - This new fleet of miners is expected to be the first to operate in the company's planned **100 MW facility**, which is being developed in partnership with Validus Power[3](index=3&type=chunk) [Impact on Production and Future Outlook](index=1&type=section&id=Impact%20on%20Production%20and%20Future%20Outlook) Expansion to **2.5 E/H** and **1,600 Gigahash** from NVIDIA CMPs is projected to more than double daily Bitcoin production to **14–16 Bitcoin** Projected Daily Bitcoin Production Increase (Pre-Difficulty Adjustment) | Metric | Current Production | Projected Production (Post-Expansion) | | :--- | :--- | :--- | | **Average Bitcoin per Day** | 6.5 – 7.5 | 14 – 16 | - The CEO, Jaime Leverton, stated the purchase is a unique opportunity to almost double the company's hashrate before the end of the year[4](index=4&type=chunk) - The **2.5 E/H** capacity is in addition to the **1,600 Gigahash** anticipated from NVIDIA cryptocurrency mining processors (CMPs)[5](index=5&type=chunk) [Bitcoin Network Difficulty Update](index=2&type=section&id=Bitcoin%20Network%20Difficulty%20Update) Anticipated **24-26%** Bitcoin network difficulty reduction by **July 2, 2021**, combined with hashrate expansion, is projected to increase daily self-mined Bitcoin to **20–22** - A sharp reduction in network difficulty, estimated between **24% and 26%**, is expected on **July 2, 2021**[6](index=6&type=chunk) Estimated Daily Bitcoin Production Scenarios | Scenario | Average Bitcoin per Day | | :--- | :--- | | **Current Production** | 6.5 – 7.5 | | **Post-Difficulty Reduction Only** | 8.5 – 9.5 | | **Post-Expansion & Difficulty Reduction** | 20 – 22 | [About Hut 8](index=2&type=section&id=About%20Hut%208) Hut 8 is a leading North American digital asset miner, holding significant self-mined Bitcoin and pursuing diversified strategies including mining, hosting, and yield programs - Key company attributes include: - One of **North America's largest digital asset miners**, located in Alberta, Canada - Holds **more self-mined Bitcoin** than any crypto miner or publicly traded company globally - **First publicly traded miner on the TSX** and **first Canadian miner on The Nasdaq Global Select Market**[7](index=7&type=chunk) - The company has a **multi-pronged business strategy**: profitable **digital asset mining**, white-label **high-performance compute hosting**, and **yield & income programs** using its Bitcoin reserves[7](index=7&type=chunk) [Cautionary Note Regarding Forward-Looking Information](index=2&type=section&id=Cautionary%20Note%20Regarding%20Forward-Looking%20Information) This press release contains forward-looking statements on future performance, subject to risks and uncertainties, with no obligation to update unless legally required - The press release includes **forward-looking information** concerning future business strategy, expansion, and operational plans[8](index=8&type=chunk) - These statements are subject to **risks and uncertainties** that could cause actual results to differ materially[9](index=9&type=chunk)

Hut 8 Mining Corp. (HUTMF) Q1 2021 Earnings Conference Call May 13, 2021 10:00 AM ET Company Participants Shane Downey - Chief Financial Officer Jaime Leverton - Chief Executive Officer Conference Call Participants Deepak Kaushal - Stifel Nicolaus Canada Inc. Operator Good morning, and welcome to the Q1 Earnings Call for Hut 8 Mining Corp. My name is Cheryl, and I'll be your operator for todayÂ's call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer ses ...

Hut 8 Mining Corp (HUTMF) Q4 2020 Earnings Conference Call March 25, 2021 10:00 AM ET Company Participants Jaime Leverton - CEO Jimmy Vaiopoulos - CFO Conference Call Participants Deepak Kaushal - Stifel Kevin Dede - H.C. Wainwright Operator Welcome to the Year-end Financial Results Conference Call. My name is John. I'll your operator for today's call. [Operator Instructions] Please note the conference is being recorded. And I will now turn the call over to Jaime Leverton. Jaime Leverton Good morning, every ...

HIUST THE OLDEST & MOST INNOVATIVE BITCOIN MINER IN THE WESTERN HEMISPHERE Innovative Mining, High Performance Computing, & Cash Flow Businesses Built on the Blockchain. TSE Ticker: HUT.TO OTCQX: HUTMF March 2021 Disclaimer 2 This management presentation is intended to provide an overview of the business of Hut 8 Mining Corp. ("Hut 8" or the "Company"). This presentation does not constitute or form part of and should not be construed as, an offer to sell or issue or the solicitation of an offer to buy or su ...

Hut 8 Mining Corp (HUTMF) Q2 2020 Results Conference Call August 13, 2020 10:00 AM ET Company Participants Jimmy Vaiopoulos - Interim CEO Conference Call Participants Operator Welcome to the Second Quarter 2020 Earnings Call. My name is Hilda, and I'll be your operator for today. At this time, all participants are in a listen-only mode and later we will conduct question-and-answer session. [Operator instructions] Please note that this conference is being recorded. I'll now turn the call over to Jimmy Vaiopo ...