Toronto, Ontario–(Newsfile Corp. – April 3, 2020) – Hut 8 Mining Corp. (TSX: HUT) (OTCQX: HUTMF) (“Hut 8” or “the Company“), one of the world’s largest public cryptocurrency mining companies by operating capacity and market capitalization, today announces its financial results for the year ended December 31, 2019. Hut 8 reports all amounts in Canadian Dollars unless otherwise stated.

A conference call has been scheduled to discuss the Company’s year-end financial results, hosted by CEO Andrew Kiguel and CFO Jimmy Vaiopoulos, starting at 10:00 a.m. ET on Monday April 6, 2020.

Date: Monday April 6, 2020
Time: 10:00 a.m. ET
Dial-In: 1 (888) 465-5079, Canada 1 (888) 424-8151, US
Passcode: 7760 654#

2019 Highlights

• Annual revenue of $82.0 million from mining 8,618 bitcoin
• Mining profit margin of 45%
• Adjusted EBITDA of $33.5 million with an Adjusted EBITDA Margin of 41%
• Increased petahash capacity by 19.6%
• Repaid $5.3 million of outstanding debt
• Refinanced a US$15 million debt facility to lower the coupon rate
• Graduation to the TSX via TSX Sandbox
• Achieved bottom line profit with net income of $2.1 million

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/54105

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