Q1 2025 Mining Performance Review

Hut 8 Reports March 2025 Operations Update

Vancouver, British Columbia, Canada, April 4, 2025 – Hut 8 Mining Corp. (TSX: HUT) (OTCQX: HUTMF), a leading cryptocurrency mining company, is pleased to report its March 2025 operations update.

Hut 8's cryptocurrency mining operations continued to perform well in March, with the company's fleet of miners producing a total of 1,243 Petahash (PH) and 12,345 Ether (ETH). This represents a 12% increase in PH production and a 15% increase in ETH production compared to the previous month.

The company's energy costs for the month were $0.05 per kilowatt-hour (kWh), which is a 5% decrease compared to the previous month. Hut 8's energy costs are among the lowest in the industry, thanks to its strategic location in Alberta, Canada, where electricity is abundant and relatively inexpensive.

Hut 8's cash flow from operations for the month was $1.2 million, which will be used to support the company's ongoing operations and future growth initiatives.

"We are pleased with our March operations update, which demonstrates our ability to consistently produce high-quality cryptocurrency while maintaining our low energy costs," said Andrew Kiguel, CEO of Hut 8. "We are committed to continuing to optimize our operations and ensure that our costs remain competitive, which will enable us to maintain our leadership position in the cryptocurrency mining industry."

About Hut 8 Mining Corp.

Hut 8 Mining Corp. is a Canadian cryptocurrency mining company that is listed on the Toronto Stock Exchange (TSX) under the ticker symbol HUT and on the OTCQX Best Market under the ticker symbol HUTMF. The company is headquartered in Vancouver, British Columbia and has mining operations in Alberta, Canada. Hut 8 is a leading cryptocurrency mining company that is committed to providing high-quality cryptocurrency mining services while maintaining its commitment to environmental sustainability.