Hut 8 Announces Leadership Transition

President Asher Genoot Appointed Chief Executive Officer

Miami, Florida, Feb. 07, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT), (“Hut 8” or the “Company”) today announced that Asher Genoot, President and a member of the Hut 8 Board of Directors, has been appointed Chief Executive Officer, effective immediately. Mr. Genoot succeeds Jaime Leverton, who departs from Hut 8 as Chief Executive Officer, effective immediately.

The Hut 8 Board of Directors (the “Board”) has determined, following the completion of the Company’s merger of equals, the time was right to set a new strategic direction for the Company and that a transition of leadership was appropriate.

“The merger of equals of Hut 8 and US Bitcoin Corp was a transformational moment for both companies,” said Bill Tai, Chairman of the Board of Hut 8. “Hut 8 is now at a pivotal inflection point, and we believe that Asher is uniquely qualified to accelerate our path to market leadership. There is tremendous potential in the combined Company and the Board is confident that Asher will bring a disciplined, proven approach to unlock this potential.”

“It has been a privilege to lead the Hut 8 team and to serve as CEO through such a critical time for Hut 8,” said Jaime Leverton. “I am grateful to the Board for the opportunity to lead such a talented, innovative team, and I am proud of the company we have built.”

“I look forward to doing everything in my power to meet and exceed the expectations of the Board, our investors, our customers, our partners, and most importantly, our team as the CEO who will lead Hut 8 into its next chapter of growth,” said Mr. Genoot. “Over the last three years, Jaime has led Hut 8 through market cycles and built a strong foundation for the Company. I am thankful for her leadership, and I am committed to ensuring a smooth transition. As I work with the Board to define a new strategy for the Company, I am focused on strengthening operations, driving profitable growth, and creating lasting shareholder value. I am more confident than ever in the strength of our team and ability to execute. I look forward to sharing more details about our near-term strategy and working closely with the full organization and Board to execute on it.”