Production highlights for
161 Bitcoin were generated, resulting in an average production rate of approximately 5.2 Bitcoin per day
Unusually high energy prices led Hut 8 to curtail production and sell power back to the provider
Keeping with our longstanding HODL strategy, 100% of the self-mined Bitcoin in December were deposited into custody
Total Bitcoin balance held in reserve as of
Installed ASIC hashrate capacity at Hut 8's
Hut 8 produced 64.4 BTC/EH in December
Operational highlights:
While operations in
We welcomed new CFO Shenif Visram to the Hut 8 leadership team in mid-December
'I am proud of the team's collective and continued grit and perseverance through headwinds that built up in late Q4 2022,' said
About Hut 8
Hut 8 is one of
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
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, security and cybersecurity threats and hacks, malicious actors or botnet obtaining control of processing power on the Bitcoin network, further development and acceptance of the Bitcoinnetwork, changes to Bitcoin mining difficulty, loss or destruction of private keys, increases in fees for recording transactions in the Blockchain, erroneous transactions, reliance on a limited number of key employees, reliance on third party mining pool service providers, regulatory changes, classification and tax changes, momentum pricing risk, fraud and failure related to digital asset exchanges, difficulty in obtaining banking services and financing, difficulty in obtaining insurance, permits and licenses, internet and power disruptions, geopolitical events, uncertainty in the development of cryptographic and algorithmic protocols, uncertainty about the acceptance or widespread use of digital assets, failure to anticipate technology innovations, the COVID19 pandemic, climate change, currency risk, lending risk and recovery of potential losses, litigation risk, business integration risk, changes in market demand, changes in network and infrastructure, system interruption, changes in leasing arrangements, failure to achieve intended benefits of power purchase agreements, potential for interrupted delivery, or suspension of the delivery, of energy to the Company's mining sites, and other risks related to the digital asset and data centre business. For a complete list of the factors that could affect the Company, please see the 'Risk Factors' section of the Company's Annual Information Form dated
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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, sought, proposed, estimated, forecasted, expected, projected or targeted and such forward-looking statements included in this press release should not be unduly relied upon. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Hut 8's future decisions and actions will depend on management's assessment of all information at the relevant time. 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.
Contact:
Hut 8 Investor
E: sue@hut8.io
Hut 8 Media
E: yamini.coen@hut8.ip
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