Hut 8 Operations Update for December 2024

Core Insights - Hut 8 Corp. is set to begin miner shipments in January 2025, aiming to enhance fleet efficiency to an average of 19.9 J/TH [2][4] - The 205 MW Vega project is on track for energization in Q2 2025, which will support the company's self-mining operations [2][4] Operational Metrics - Total energy capacity under management decreased from 967 MW in November 2024 to 665 MW in December 2024 [4] - Total deployed miners under management fell from 201.1K in November 2024 to 121.4K in December 2024 [5] - Total hashrate under management decreased from 21.0 EH/s in November 2024 to 13.2 EH/s in December 2024 [5] - Bitcoin production slightly declined from 94 BTC in November 2024 to 89 BTC in December 2024, while Bitcoin held in reserve increased from 9,122 BTC to 10,171 BTC [5] Infrastructure Developments - The company is upgrading infrastructure at existing sites to prepare for new miner deliveries [2][4] - The Vega site is expected to implement a rack-based Tier I data center architecture, aiming for an average fleet efficiency of 15.7 J/TH by Q2 2025 [2][4] Future Projects - Hut 8 is focusing on high-impact projects in both AI and Bitcoin mining, with several large-scale AI data center developments in various stages [2][4] - The company anticipates that the Vega site will create a path to approximately 24 EH/s of self-mining hashrate [2][4]