Hut 8 Streamlines Operations with Closure of Drumheller Site

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Company to move efficient miners to Medicine Hat site

Plan expected to improve cash flow, decrease cost to mine a Bitcoin, and drive pro forma increase in Bitcoin mined per EH of approximately 11%

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Company to maintain lease with option value of re-energizing site under favorable market conditions

MIAMI, March 06, 2024 (GLOBE NEWSWIRE) —  Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest Bitcoin miners and energy infrastructure operators, today announced the closure of its Drumheller site in Alberta, Canada. In line with ongoing restructuring and optimization initiatives designed to strengthen financial performance, the Company is executing several strategic measures at the site.