press release

Hut 8 Operations Update for September 2024

Oct 4, 2024
Posted by  Hut 8

  • 19.5 EH/s and 762 MW under management in mining with path to 33.5 EH/s
  • Announced partnership with BITMAIN to host next-generation ASIC miner with purchase option to reach 20 EH/s of self-mining
  • GPU-as-a-service subsidiary generating revenue with first cluster fully online
  • Outstanding balance of Anchorage Digital loan equitized at price of $16.395 per share
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Notes
  1. As of the end of the period.
  2. Includes all Self-Mining, Managed Services, and Hosting infrastructure, including 100% of the energy capacity at the King Mountain site, which is owned by the King Mountain JV in which the Company has a 50% membership interest and a Fortune 200 renewable energy producer has the remaining 50% membership interest (the “King Mountain JV”).
  3. Includes 215 megawatts assuming full capacity at Cedarvale, which was first energized in April and is currently under construction.
  4. Includes all miners that are racked with power and networking, rounded to the nearest 100, in Self-Mining, Managed Services, and Hosting infrastructure with power and networking, including all miners at the King Mountain site.
  5. Includes all Self-Mining, Managed Services, and Hosting hashrate, including 100% of the hashrate at the King Mountain site.
  6. Self-Mining operations for Hut 8 include 100% of operations at the King Mountain site.
  7. Deployed miners are defined as those physically racked with power and networking, rounded to the nearest 100; deployed self-mining miners net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 49.6K during September and 49.5K during August.
  8. Indicates the target hashrate of all deployed miners; deployed self-mining hashrate net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 4.7 EH/s during September and August, respectively.
  9. Bitcoin produced net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner was 72 BTC during September and 74 BTC during August.
  10. The Managed Services figures reflected in this table include the Self-Mining and Hosting metrics from the sites where Hut 8’s Managed Services business is an additional service layer in the operation of the site (at King Mountain, Rebel, Stiles, East Stiles, and Garden City). As a result, the sum of the Self-Mining, Managed Services, and Hosting numbers will not add up to the “Total energy capacity under management”, “Total deployed miners under management”, and “Total hashrate under management” figures that are also reflected in the table.
  11. Miners are rounded to the nearest 100.
  12. 6K deployed miners under management net of the 50% share of the King Mountain JV held by Hut 8’s joint venture partner during September and August, respectively
  13. 7 EH/s under management net of Hut 8’s joint venture partner’s 50% share of the King Mountain JV during September and August, respectively.
  14. Reflects revenue sources to Hut 8, its subsidiaries, and/or joint ventures in which they participate.
  15. Site is currently under development.
  16. Anticipated to begin generating revenue in H1 2025.
  17. Site currently shut down; Hut 8 maintaining lease with option value of re-energizing site.
  18. Owned by a JV between Hut 8 and a Fortune 200 renewable energy producer in which Hut 8 has an approximately 50% membership interest.
  19. Owned by a JV between Hut 8 and Macquarie in which Hut 8 has an approximately 80% membership interest.