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Toronto, Ontario – (Newsfile Corp.- September 2, 2020) – Hut 8 Mining Corp.(TSX: HUT) (OTCQX: HUTMF) (“Hut 8” or “the company”), one of the world’s largest public cryptocurrency mines corporations through unpronounced capacity and market capitalization, announces that control of the Drumheller facility or a site consistent with a location has been transferred from the Bitfury Group (“Bitfury”) to Hut 8 as of August 28, 2020 , saving Hut 8 more than $1 million consistent This adds to the past control of the Medicine Hat facility site as of August 1, 2020, saving Hut 8 more than $500,000 according to the year.Under a significant view of Hut 8.Today, the company has incorporated site control for all its amenities to reduce prices and optimize inconsistencies.
Hut 8 continued to focus on reducing its inconsistency burden with bitcoin.One direction to accomplish this is to design your Medicine Hat facility to remotely monitor parts of Drumheller’s consumer matches, reducing site prices at Drumheller.It is consistent with facilities, while Drumheller’s key body of workers focuses on maintaining site assets.With the two sites separated by approximately two hours, this allows Hut 8 to standardize consistency with the installation of each facility.Overall, the savings of this initiative are more than $1.5 million consistent with the year.
“This was the last step in the entire movement of site control from sites to Hut 8, allowing us to work more directly with site staff to expedite inconsistencies with stocks and further lessen the burden of inconsistencies with each bitcoin,” Jimmy Vaiopoulos said., Acting Managing Director.Officer of Hut 8.” Between Medicine Hat and Drumheller, this will save us up to $1.5 million according to the year and provide Hut 8 with more to locate additional inconsistent power gains in the future.”
ABOUT HUT MINING CORP.
Hut 8 is an industrial-scale bitcoin mining company operating in Canada.Hut 8 creates prices for investors through low production prices and appreciation of their bitcoin inventory.The company offers investors direct exposure to bitcoins, without technical complexity or purchase limitations.The underlying cryptocurrency Investors avoid creating online wallets, moving cash and storing their bitcoins securely.
The Company’s non-unusual inventories are indexed under the symbol “HUT” on the TSX and under the so-called “HUTMF” in the OTCQX inventory exchange.
Main investment highlights and FAQs: https://www.hut8mining.com/investors.
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Cabin Contact Person:
Jimmy Vaiopoulos Acting CEO, senior: (647) 256-1992 Email: [email protected]
FUTURE STATEMENTS
Certain data contained in this press release constitute forward-looking data.In some cases, but not necessarily in all cases, forward-looking data would possibly be known through the use of forward-looking terminology, such as “plans”, “objectives”, “expect”or “does not expect”,” is expected to “,” “intends”,” assumes “,” anticipates “or” does not anticipate “or” believes”, or variants of words and expressions, or states that certain actions, occasions or effects would possibly be “would,” could be “or” ,” will happen “or” will be learned “In addition, any reference to expectations, projections or other characterizations of occasions or long-term cases include forward-looking data.Statements containing forward-looking data are not old facts, but constitute expectations, estimates and management projections related to long-term occasions.
Forward-looking data is necessarily based on a number of opinions, assumptions and estimates which, although considered moderate through Hut 8 as of the date of this press release, are subject to known and unknown risks, uncertainties, assumptions and other points that possibly would cause the actual results, point of activity, functionality or achievements to be materially different from those expressed or implied through such forward-looking data, including, but not limited to, the points described in more detail in the segment “Factors of Risk “of the Presentation Statement dated March 1, 2018 related to the Qualified Transaction of Oriana Resources Corporation and Hut 8, available at www.sedar.com. These points are not intended to constitute a complete list of points that can also only be Hut 8; however, these points will have to be thought through carefully. There is no assurance that these estimates and assumptions turn out 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 legal responsibility to update or replace any statement containing forward-looking information, or the underlying points or assumptions, whether as as a result of new data, long-term or other occasions, unless required by law.
Neither TSX nor its regulatory service provider (as explained in TSX’s policies) assumes the duty of the relevance or accuracy of this release.
To view the original edition of this press release, https://www.newsfilecorp.com/release/63078