Hut 8 Announces It Is the First TSX Listed Issuer to Complete the TSX Sandbox Program

Toronto, Ontario--(Newsfile Corp. - October 9, 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, announces that it is the first TSX listed issuer to complete the TSX Sandbox program. This comes at the one year anniversary when Hut 8 was also the first issuer to be listed to the TSX via the TSX Sandbox. Although Hut 8 has been trading as a TSX listed company for the past year, completing the TSX Sandbox program solidifies its status on the senior exchange which is home to Canada's largest public companies.

"We're excited to work alongside the TSX to find innovative paths forward in the public markets for emerging industries such as the blockchain and bitcoin mining space," said Jimmy Vaiopoulos, Interim Chief Executive Officer of Hut 8. "Being listed on the TSX holds Hut 8 to the highest standard of governance and disclosure requirements which directly benefits our investors."

The Company also announces that it will host its annual general meeting virtually on December 10, 2020. Due to the impact of the novel COVID-19 pandemic and in response to the continued public health measures enacted by the federal and provincial governments, the decision to hold the the meeting virtually was made to proactively protect the health and well-being of the Company's stakeholders, employees, and service partners that participate in the event.

In addition, the Company's Interim Chief Executive Officer, Jimmy Vaiopoulos, was granted 90,000 restricted share units which shall vest in accordance with the Company's RSU Plan and the policies of the TSX.

ABOUT HUT 8 MINING CORP.

Hut 8 is a bitcoin mining company with industrial scale operations in Canada. Hut 8 creates value for investors through low production costs and appreciation of its bitcoin inventory. The company provides investors with direct exposure to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. Investors avoid the need to create online wallets, wire money offshore, and safely store their bitcoin.

The Company's common shares are listed under the symbol "HUT" on the TSX and as "HUTMF" on the OTCQX Exchange.

Key investment highlights and FAQ's: https://www.hut8mining.com/investors.

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Hut 8 Corporate Contact:

Jimmy Vaiopoulos
Interim Chief Executive Officer
Tel: (647) 256-1992
Email: info@hut8mining.com

FORWARD-LOOKING STATEMENTS

Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology, such as "plans", "targets", "expects" or "does not expect", "is expected", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Hut 8 as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in greater detail in the "Risk Factors" section of the Filing Statement dated March 1, 2018 relating to the Qualifying Transaction of Oriana Resources Corporation and Hut 8, which is available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Hut 8; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65646

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