Latest news with #Hut8
Sydney Morning Herald
3 hours ago
- Business
- Sydney Morning Herald
Eric Trump eyes $570 million windfall from four-month-old company
Eric Trump's stake in a four-month-old Bitcoin mining venture could be worth $US367 million ($570 million) when it goes public in coming weeks. The second son of President Donald Trump holds a large stake in closely held American Bitcoin, which he co-founded in March. In a planned merger, his interest will be exchanged for about 367 million new shares of Nasdaq-listed Gryphon Digital Mining, according to a securities filing on Tuesday. Gryphon traded at about $US1 on Thursday. The combined company will be called American Bitcoin. The disclosure of the stake's size comes the same week that the president, a cryptocurrency sceptic-turned-cheerleader, issued recommendations to encourage the use of digital assets for a 'golden age of crypto.' Earlier this year, he ordered the establishment of a national Bitcoin stockpile. 'Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest,' Karoline Leavitt, the White House press secretary, said in a statement. Spokespeople for Eric Trump and Gryphon didn't respond to messages seeking comment A recent private sale of existing American Bitcoin stock implied the new shares are worth 25 cents apiece, the filing noted. That would peg Eric Trump's stake at $US92 million. American Bitcoin was formed in March by combining the mining computers owned by a Miami-based company, Hut 8 Corp., with a newly formed entity whose investors included Eric Trump and Donald Trump Jr. Securities filings don't show what they paid for their stakes. A spokesperson for Hut 8 declined to comment. Announcing the tie-up, Hut 8 said the deal would combine Hut 8's existing mining operations with 'Eric Trump's commercial acumen, capital markets expertise and commitment to the advancement of decentralised financial systems.' Eric Trump, who remains an executive at his father's real estate business and is involved with several other family ventures, is serving as 'chief strategy officer' of American Bitcoin. He has a three-year advisory agreement that doesn't come with compensation, the filing shows.
The Age
3 hours ago
- Business
- The Age
Eric Trump eyes $570 million windfall from four-month-old company
Eric Trump's stake in a four-month-old Bitcoin mining venture could be worth $US367 million ($570 million) when it goes public in coming weeks. The second son of President Donald Trump holds a large stake in closely held American Bitcoin, which he co-founded in March. In a planned merger, his interest will be exchanged for about 367 million new shares of Nasdaq-listed Gryphon Digital Mining, according to a securities filing on Tuesday. Gryphon traded at about $US1 on Thursday. The combined company will be called American Bitcoin. The disclosure of the stake's size comes the same week that the president, a cryptocurrency sceptic-turned-cheerleader, issued recommendations to encourage the use of digital assets for a 'golden age of crypto.' Earlier this year, he ordered the establishment of a national Bitcoin stockpile. 'Neither the President nor his family have ever engaged, or will ever engage, in conflicts of interest,' Karoline Leavitt, the White House press secretary, said in a statement. Spokespeople for Eric Trump and Gryphon didn't respond to messages seeking comment A recent private sale of existing American Bitcoin stock implied the new shares are worth 25 cents apiece, the filing noted. That would peg Eric Trump's stake at $US92 million. American Bitcoin was formed in March by combining the mining computers owned by a Miami-based company, Hut 8 Corp., with a newly formed entity whose investors included Eric Trump and Donald Trump Jr. Securities filings don't show what they paid for their stakes. A spokesperson for Hut 8 declined to comment. Announcing the tie-up, Hut 8 said the deal would combine Hut 8's existing mining operations with 'Eric Trump's commercial acumen, capital markets expertise and commitment to the advancement of decentralised financial systems.' Eric Trump, who remains an executive at his father's real estate business and is involved with several other family ventures, is serving as 'chief strategy officer' of American Bitcoin. He has a three-year advisory agreement that doesn't come with compensation, the filing shows.
WIRED
9 hours ago
- Business
- WIRED
The Inside Story of Eric Trump's American Bitcoin
Jul 31, 2025 10:06 AM A new crypto mining company is flexing the Trump name and connections to get ahead. Eric Trump, executive vice president of Trump Organization Inc., during the Bitcoin 2025 conference in Las Vegas, Nevada, US, on Wednesday, May 28, 2025. Photograph:Early into Trump's second term as US president, the CEO of energy infrastructure company Hut 8 Asher Genoot and Hut 8 chief strategy officer Michael Ho shared thin crust pizza with Eric Trump at the Trump golf club in Jupiter, Florida. They talked for hours, says Genoot, and tabled a business venture that greatly interested Trump: a bitcoin mining alliance. They first met through mutual friends in late 2024: Genoot says he'd shown Eric photos of their 'beautiful, liquid cool data center' in Amarillo, Texas. Genoot says Eric was intrigued, and told Genoot stories of growing up with his dad on construction sites. The pizza night invite evolved, per Genoot, into almost daily meetings. The result? A company called American Bitcoin (ABTC), which launched on April 1. Hut 8, which reports having '1,020 megawatts of energy capacity under management across 15 sites in the US and Canada,' owns 80 percent of the company, while Trump, his brother Donald Jr., and legacy shareholders of their former data center business, American Data Centers, own the other 20 percent. Eric is a cofounder and chief strategy officer of American Bitcoin. ABTC's CEO Matt Prusak (who is also the former CEO of Hut 8-affiliated bitcoin mining company Ionic Digital) says the Trump brothers brought 'two things to the table.' One was access to capital markets, through the Trumps' international business connections, while the second and arguably more compelling value add was, per Prusak, 'narrative'—the one that comes with the Trump family name. Though Prusak says Eric is 'one phone call away from a wide variety of people with whom we can collaborate,' he and Genoot both insist Eric's position on the team doesn't give them a direct line to the president. Rather, they emphasize Eric's connections to large family offices and institutions. 'Institutions in Europe, Canada, now increasingly the Middle East, are all interested in the strategic alignment with American Bitcoin,' Prusak says. In March, crypto exchange Binance announced a $2 billion investment from a fund backed by Abu Dhabi's government. Two months later, the Trump family's World Liberty Financial's stablecoin, USD1, was chosen for the transaction. On July 18, President Trump signed the GENIUS Act, which regulates stablecoins, into law. The House passed legislation laying out rules for the crypto market the day prior, which the president has requested land on his desk by August. 'We're able to tap into the American energy story,' Prusak says, noting Eric and Donald Jr.'s large and increasingly bitcoin-interested audiences. Sean Glennan, Hut 8's chief financial officer who previously worked at Citi, calls his current industry 'mimetic'— having a public facing executive from one of the world's most meme-able families doesn't hurt. 'American Bitcoin is uniquely positioned to scale faster and operate leaner than anyone in the space,' Eric said in a written statement to WIRED, citing Hut8's track record, infrastructure and energy expertise as 'unmatched'. Will Foxley, cofounder of the bitcoin mining-focused Blockspace Media, puts it more bluntly. In the crowded mining industry, he says, 'there's only a few ways to stand out—one of those ways can be getting the president's son to help found the company.' Having mined 215 bitcoin between its April launch and May 31, American Bitcoin rounds out the Trump family's crypto business portfolio. As of July 1, it raised $220 million from investors, which it plans to put toward buying bitcoin and mining equipment. Together with the Trumps' past crypto plays—which include a meme coin, stablecoin, and $2.5 billion bitcoin treasury investment for Trump Media & Technology Group, which includes Truth Social—American Bitcoin's helping further consolidate the family's influence over this growing, and increasingly institution- and government-tied, financial ecosystem. The Trumps' crypto activities had reportedly contributed around $2.9 billion to the family's wealth as of mid-March. American Bitcoin could add via its primary objective—accumulating bitcoin. First, it's mining to generate bitcoin below market cost (since miners get rewarded for their work, they get bitcoin at a better value than those buying on exchanges). Then it will buy more bitcoin to create its own strategic reserve. As of June 18, Prusak told Wired he 'can't disclose' when the company will start buying nor through what exchange, but Coinbase Prime currently serves as the company's 'primary market.' (Its CEO, Brian Armstrong, has reportedly met with President Trump to help shape US crypto policy.) When Hut8 announced its joining with the Trump brothers to create American Bitcoin, others in the crypto mining industry were 'caught off guard,' says Foxley. While meme coins like Trump Coin constitute flashy, headline-generating cash grabs, bitcoin mining is what Foxley deems the 'backwater of crypto'—unsexy, and underreported on, save articles lambasting its extensive energy use. But, with the Trump administration pushing an 'energy first approach for the US,' Foxley adds, it makes sense. The president met with some of the US's biggest miners while campaigning at Mar-a-Lago in June 2024, where they discussed how the US should be 'number one' in bitcoin mining, an agenda Trump echoed the following month at the Bitcoin Conference in Nashville. The crypto industry poured $135 million into 2024 elections, and it maintained political influence by lobbying Congress and gaining the president's ear. President Trump has made sure to personally benefit from the profits while working to tie the industry's success to the US government, encouraging crypto-friendly legislation and planning a federal strategic bitcoin reserve. While President Trump's proposed tariffs on Chinese mining equipment were bad news for the crypto mining industry in the US, they have so far not come into play. On May 12, American Bitcoin announced its plan to go public through a merger with the NASDAQ-traded Gryphon Digital Mining, which per its SEC filing 'operates approximately 5,880 bitcoin mining computers' at a third-party's mining center in Pennsylvania. The computers come from Chinese company Bitmain. After American Bitcoin accumulates ample bitcoin through mining and buying, the company's ultimate goal, per American Bitcoin's SEC filing, is to 'lead the ecosystem,' which could include supporting bitcoin developments and encouraging its adoption. Like everything done under the Trump family name, American Bitcoin has 'the goal to be the biggest,' Eric said in a May interview at blockchain conference Consensus. The company's planned merger with Gryphon, per the latter's SEC filing, will create a public entity 'focused on building the world's largest, most efficient pure-play Bitcoin miner.' After the merger, the company's five directors will be Ho, Prusak (who's also founder and partner at Defense Angels, a venture firm that per its website 'invests in the future of national security'), and three non-employees—FabFitFun cofounder Michael Broukhim, Tinder cofounder Justin Mateen, and Genoot. 'Going public is a game-changer: it unlocks capital and institutional access that will fuel our mission to build the largest, most investable platform for long-term Bitcoin accumulation,' Eric said. Hut 8, however, is providing the infrastructure. ABTC pays Hut 8 for energy, operations, and shared services, which include 'accounting…HR support, payroll, benefits, IT support,' and legal services, per its SEC filing. While Hut 8 provides ABTC's mining facilities—currently in Niagara Falls, New York; Medicine Hat, Alberta; and Orla, Texas—it can use the company to raise and deploy 'massive capital,' says Prusak, that won't 'strain Hut 8's balance sheet.' With American Bitcoin taking care of mining, Hut 8 can focus on supporting growing technologies like AI and going after the business of 'hyperscalers,' says Foxley—companies like Meta and Google that need massive data centers for their energy-heavy operations. Since Hut 8 is bankrolling the data centers, American Bitcoin just needs to buy its mining machines. It inherited an agreement from Hut 8 subsidiary Zephyr to buy around 17,280 Bitmain U3S21EXPH miners for a maximum of $320 million. As of May 31, American Bitcoin reported owning more than 60,000 bitcoin miners, made up mostly of Bitmain Antminer S21+ series miners (Glennan calls the miners 'Cadillac…not the Ferrari') and China-based MicroBt M5X and M6X series machines. While the US boasts between 30 and 40 percent of the world's bitcoin mining, 90 percent of mining hardware comes from China. 'Bitcoin is becoming more and more central to the US financial ecosystem,' says Sanjay Gupta, chief strategy officer at Auradine, a US-based rival to Chinese bitcoin mining suppliers. As President Trump works to further cement bitcoin's role in that ecosystem, experts caution that security risks could arise from connecting Chinese hardware to critical US power infrastructure. Bitmain, for instance, is a privately listed company with links to the AI company Sophgo, which the US government blacklisted for security reasons.(Bitmain, which shares a co-founder with Sophgo, has not been added to the Entity List.) Bitcoin mining businesses must navigate deteriorating economics: They rely on a volatile asset, and rewards for miners halve roughly every four years, as more than 19 million of the total 21 million bitcoin have been mined. Glennan says maintaining minimal debt and hedging through bitcoin's derivative market will help American Bitcoin 'survive the ups and downs.' ABTC also aims to increase its computational power to mine more profitably. That could mean replacing older equipment with newer, more efficient models and acquiring other bitcoin mining companies. This takes capital, which the company hopes the Trumps' name will attract. As much as Hut 8 and American Bitcoin representatives claim separation between their business and the Trumps' political connections, the company couldn't help but flaunt these ties during the May 2025 Bitcoin conference in Las Vegas. There, American Bitcoin threw an event that the Winklevoss twins, who each donated $1 million to Trump pre-election, and chairman of Cantor Fitzgerald Brandon Lutnick, son of Trump's secretary of commerce Howard Lutnick, attended. On a stage that had hosted Vice President J.D. Vance hours earlier, during a panel with Prusak, Ho, and his brother, Donald Jr. told the conservative-leaning crowd, 'My father made a lot of promises to the…bitcoin community…[Eric and I] show our true level of commitment when you look at all the things we're doing in this space.' He named American Bitcoin first.
Zawya
23-07-2025
- Business
- Zawya
Hut 8 advances capital strategy with DIFC license
MIAMI, FL, – Hut 8 Corp. (Nasdaq | TSX: HUT) ('Hut 8' or the 'Company'), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced that its subsidiary, Hut 8 Investment Ltd, has secured a Commercial License in the Dubai International Financial Centre ('DIFC'). The license authorizes proprietary investments and certain non-financial commercial activity under the DIFC's legal and regulatory framework, which is based on international standards and principles of common law. The DIFC license represents a structural expansion of Hut 8's capital strategy, enhancing the Company's ability to deploy Bitcoin held in reserve into structured derivatives strategies. The license is expected to broaden access to institutional counterparties, reduce trading friction, and lower transaction costs. In fiscal year 2024, Hut 8 generated more than $20 million in net proceeds from covered call options premiums on Bitcoin held in reserve. Through its presence in the DIFC, Hut 8 expects to unlock multiple advantages that support continued expansion of its active treasury management program, including: Direct access to global derivatives markets: Enables Hut 8 to trade directly on institutional exchanges, reducing reliance on OTC intermediaries that historically introduced cost friction relative to spot pricing Broader access to institutional-grade products and counterparties: Unlocks a wider set of global liquidity providers and instruments, enhancing strategic optionality Greater flexibility in structured strategy design and execution: Allows Hut 8 to construct and manage advanced yield strategies that would more difficult to execute without a DIFC license Supportive regulatory environment within a common law framework: Dubai offers an established legal and regulatory foundation for institutional digital asset activity, supporting enhanced enforceability, compliance certainty, and jurisdictional alignment 'We believe that securing a DIFC license enhances our ability to drive outsized shareholder returns through our integrated capital strategy,' said Asher Genoot, CEO of Hut 8. 'It allows us to execute directly on global derivatives markets, reduce trading costs, and access a broader range of institutional products. Within a regulatory environment that supports structured digital asset strategies, we believe we can manage Bitcoin held in reserve more efficiently, manage risk with greater precision, and optimize yield through disciplined, proactive management.' About Hut 8 Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit and follow us on X at @Hut8Corp. About Dubai International Financial Centre Dubai International Financial Centre (DIFC) is one of the world's most advanced financial centres and a leading financial hub for the Middle East, Africa, and South Asia (MEASA). With a 20-year track record of facilitating trade and investment flows across the MEASA region, the Centre connects these fast-growing markets with the economies of Asia, Europe, and the Americas through Dubai. DIFC is home to an internationally recognised, independent regulator and a proven judicial system with an English common law framework. The Centre's vision is to drive the future of finance through cutting-edge technology, innovation, and partnerships. Today, it is the global future of finance and innovation hub offering one of the region's most comprehensive AI, FinTech and venture capital environments, including cost-effective licensing solutions, fit-for-purpose regulation, innovative accelerator programmes, and funding for growth-stage further information, please visit our website: or follow us on LinkedIn and X at @DIFC. Cautionary Note Regarding Forward–Looking Information This press release includes 'forward-looking information' and 'forward-looking statements' within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, 'forward-looking information'). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company's use of its DIFC license to expand its capital strategy, enhance the Company's ability to deploy Bitcoin held in reserve, broaden access to institutional counterparties, reduce trading friction, lower transaction costs, and unlock other advantages to support the expansion of the Company's active treasury management program; the impact of the DIFC's regulatory framework; the ability of the Company to drive outsized shareholder returns; and other such matters is forward-looking information. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'allow', 'believe', 'estimate', 'expect', 'predict', 'can', 'might', 'potential', 'predict', 'is designed to', 'likely,' or similar expressions. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements 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, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at and SEDAR+ profile at
Globe and Mail
15-07-2025
- Business
- Globe and Mail
Hut 8 Rebrands to Align External Positioning with Power-First, Platform-Driven Business Model
MIAMI, July 15, 2025 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) ('Hut 8' or the 'Company'), an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing, today announced a corporate rebrand that aligns the Company's external positioning with its strategic focus on energy and digital infrastructure through an integrated platform model focused on disciplined capital allocation, operational rigor, and relentless performance optimization. 'Our new brand enables us to more clearly express what has always set Hut 8 apart: a power-first, innovation-driven approach to developing, commercializing, and operating next-generation digital infrastructure,' said Asher Genoot, CEO of Hut 8. 'Since our merger of equals, we have scaled with discipline across each layer of our platform, institutionalized the broader business, and executed with the rigor we believe is required to deliver outsized long-term value for our investors. Our new brand embeds our platform-driven strategy into our external positioning and sharpens how we articulate our business model, structural advantages, and approach to long-term value creation to the market.' The Company's rebrand follows over a year of disciplined strategic, operational, and capital markets execution under new leadership, which has solidified Hut 8's position as a power-first, innovation-driven developer of energy and digital infrastructure. Since the merger of Hut 8 Mining Corp. with U.S. Data Mining Group, Inc. ('US Bitcoin Corp') in November 2023, the Company has: Expanded its energy infrastructure platform to 1,020 megawatts ('MW') under management across 15 sites as of March 31, 2025, which includes scaled behind-the-meter operations at King Mountain (280 MW) and Vega (205 MW) Built a high-velocity, utility-scale power origination pipeline spanning ~10,800 MW of capacity as of March 31, 2025, a more than threefold increase from 3,000+ MW as of the end of Q2 2024, including ~2,600 MW under exclusivity, anchored by a power-native team led by former executives and team members from some of North America's largest generation owners, utilities, energy investment firms, infrastructure developers, and trading desks Advanced AI data center development opportunities comprising 430 MW of total capacity, including River Bend, a 592-acre campus in Louisiana where sitework is underway Designed and commercialized a next-generation Tier I data center form factor for ASIC compute at Vega, which features a proprietary, rack-based, direct-to-chip liquid cooling system designed by Hut 8 to support ASIC deployments at densities of up to 180 kilowatts ('kW') per rack, with initial customer discussions supporting the viability of this architecture for future iterations of liquid-cooled infrastructure to meet emerging HPC workloads and next-generation AI data center design Restructured its Bitcoin mining business into a standalone entity through the launch of American Bitcoin Corp. ('American Bitcoin'), creating a dedicated Bitcoin accumulation vehicle that can scale independently without diverting capital from the Company's core Power and Digital Infrastructure businesses Scaled lower volatility, contracted businesses, executing an ASIC Colocation agreement with BITMAIN at Vega, ASIC Colocation and Managed Services agreements with American Bitcoin, and five-year capacity contracts with the Ontario Independent Electricity System Operator ('IESO') for 310 MW of Power Generation assets Executed innovative, dilution-sensitive financings, including: (i) an upsized Coinbase credit facility, increased from $65 million to $130 million, with a fixed interest rate of 9.0%, compared to a stated interest rate ranging from 10.5% to 11.5% between the quarter ended December 31, 2023 and the quarter ended March 31, 2025; (ii) a Bitcoin-backed call option structure used to fund the Company's purchase of machines from BITMAIN; (iii) a covered call program that generated more than $20 million in net proceeds from premiums on Bitcoin held in reserve in fiscal year 2024; and (iv) an at-the-market ('ATM') equity offering program through which $275.5 million in net proceeds has been raised at a weighted average price of $28.23 per share as of March 31, 2025 Deepened institutional alignment, supporting growth in institutional ownership from approximately 12% at the end of Q1 2024 to approximately 55% at year-end 2024, marked by milestones like a strategic investment from Coatue, the conversion of the Company's Anchorage loan to equity, the onboarding of a Big 4 audit firm, and the hiring of seasoned veterans from the power and digital infrastructure sectors Realigned its reporting structure to provide a clearer, more comprehensive view of how each layer of the Company's platform—Power, Digital Infrastructure, and Compute—contributes to growth, profitability, and value creation in the context of the overall business The Hut 8 name remains unchanged, reflecting the Company's continued alignment with the legacy of technical innovation that defines its namesake. Named for the building at Bletchley Park where Alan Turing led foundational work in computer science and artificial intelligence during World War II, the Company carries forward that legacy today at the intersection of energy and technology. The rebrand does not impact Hut 8's existing relationships, agreements, and operations. The Company's updated website is now live at About Hut 8 Hut 8 Corp. is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive use cases such as Bitcoin mining and high-performance computing. We take a power-first, innovation-driven approach to developing, commercializing, and operating the critical infrastructure that underpins the breakthrough technologies of today and tomorrow. Our platform spans 1,020 megawatts of energy capacity under management across 15 sites in the United States and Canada: five Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, four power generation assets in Ontario, and one non-operational site in Alberta. For more information, visit and follow us on X at @Hut8Corp. Cautionary Note Regarding Forward–Looking Information This press release includes 'forward-looking information' and 'forward-looking statements' within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, 'forward-looking information'). All information, other than statements of historical facts, included in this press release that address activities, events, or developments that Hut 8 expects or anticipates will or may occur in the future, including statements relating to the Company's strategic focus on energy and digital infrastructure through an integrated platform model focused on disciplined capital allocation, operational rigor, and relentless performance optimization, the viability of the Company's proprietary system to support future iterations of liquid-cooled infrastructure to meet emerging HPC workloads and next-generation AI data center design, the ability of American Bitcoin to scale without diverting capital from the Company's core Power and Digital Infrastructure businesses, and other such matters is forward-looking information. Forward-looking information is often identified by the words 'may', 'would', 'could', 'should', 'will', 'intend', 'plan', 'anticipate', 'allow', 'believe', 'estimate', 'expect', 'predict', 'can', 'might', 'potential', 'predict', 'is designed to', 'likely,' or similar expressions. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements 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, failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; construction of new data centers, data center expansions, or data center redevelopment; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at and SEDAR+ profile at
