TORONTO, June 21, 2018 (GLOBE NEWSWIRE) — Hut 8 Mining Corp. (“Hut 8” or the “Company”) (TSXV:HUT) (OTCQX:HUTMF), one of the world’s largest bitcoin mining companies, has appointed Jimmy Vaiopoulos, CPA, CA as its Chief Financial Officer and Corporate Secretary, effective July 10, 2018. Vaiopoulos will join Hut 8’s operations in Toronto, Ontario.
“We are excited to welcome Jimmy to our team,” said Andrew Kiguel, President and Chief Executive Officer of Hut 8. “His previous experience as a public company CFO and his financial background will be of great value to Hut 8 as we continue to expand our bitcoin mining data centres throughout North America and solidify our leadership in the industry.”
Vaiopoulos joins Hut 8 following his role as CFO with a TSXV-listed commercial solar solutions provider, where he served since 2015. Prior to that role, he worked with KPMG in both audit and advisory practices with a focus on energy and infrastructure markets. Vaiopoulos has worked closely with independent power producers and specializes in start-up growth, international management, tech and mining, and has extensive experience in the underlying Canadian and U.S. compliance regimes.
“Hut 8 has done an incredible job of scaling quickly and gaining market share in the cryptocurrency mining space,” said Vaiopoulos. “Hut 8 is a true global leader and I look forward to bringing my capital markets and industry experience to the Company to build further value for investors and the communities in which we operate.”
In addition to Vaiopoulos, Hut 8 has appointed Etienne Snyman as the Company’s Head of Power. Snyman has 20 years of experience in the energy industry spanning regulatory, trading and project development which have led to the purchase or construction of $2 billion of electricity and thermal supply infrastructure. Most recently, Etienne led Hut 8’s efforts in engaging with the City of Medicine Hat and successfully negotiating the land lease and electricity supply agreements.
At present, Hut 8 has 33 BlockBoxes representing 37.9 MW of power capacity located in Drumheller and Medicine Hat, Alberta and is in the process of installing another 24 BlockBoxes representing 28.8 MW. When Medicine Hat is fully operational, Hut 8 will have a combined operating power of 448 PH/s and 66.7 MW.
For more information, visit www.hut8mining.com.
ABOUT HUT 8 MINING CORP.
Hut 8 Mining Corp., headquartered in Toronto, Canada is a cryptocurrency mining and blockchain infrastructure company established through an exclusive arrangement with the Bitfury Group, the world’s leading full-service blockchain technology company. Through the Bitfury Group, Hut 8 has access to a world-leading proprietary mix of hardware, software and operational expertise to construct, optimize and manage data centres in low-cost and attractive jurisdictions. Hut 8 is led by a team of industry experts and intends to provide investors with exposure to blockchain processing infrastructure and technology along with underlying cryptocurrency rewards and transaction fees.
Hut 8 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 bitcoins. Hut 8 provides a secure and simple way to invest.
Key investment highlights and FAQ’s: https://www.hut8mining.com/investors.
Hut 8 Media Contact:
Talk Shop Media
Tel: (604) 786-2273
Hut 8 Corporate Contact:
President and Chief Executive Officer
Tel: (647) 256-1992
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 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 Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.