Hut 8 Mining Corp. (Nasdaq | TSX: HUT) (“
Hut
8” or “
the Company”), one of North
America’s largest, innovation-focused digital asset mining pioneers
and high performance computing infrastructure providers, partnered
with Sparta Group’s carbon credit program established by their
e-waste division, ERS International, with a goal of achieving
carbon neutrality by 2025. In 2023, Hut 8 has submitted
approximately 369 metric tonnes of electronic waste to the program,
earning 7,500 metric tonnes carbon dioxide equivalent of serialized
carbon credits.
Under the recycling program, the first of its kind in Canada,
after accounting for shipping and processing costs, for every
metric tonne of carbon dioxide diverted from landfills, one carbon
credit is generated. The carbon credits are verified by AET Group,
who have been verifiers with BGIS and Brookfield.
Efforts surrounding this initiative are ongoing, as Hut 8 staff
recently completed a 3-week blitz, during which approximately
813,425 pounds (or 369 metric tonnes) of e-waste – including
obsolete ASIC miners, hash-boards, power supply units (PSUs),
cables, and other components – were collected, categorized, and
loaded for shipping to ERS facilities. Once with ERS, the materials
are either sold to third parties for re-use or are recycled
appropriately – none of the materials are sent to landfills.
Hut 8 is set to generate 7,500 carbon credits by the end of
2023, an increase of 44% from the 5,200 generated in 2022. All
carbon credits generated in 2023 will be verified and received by
Q2 2024.
“We’re committed to finding innovative ways to reduce our carbon
footprint, and this program has proven to be extremely effective in
that regard,” said Arnold Lee, Director of ESG at Hut 8. “Not only
are we able to generate verified carbon credits on the CSA Group
registries, but our e-waste continues to be recycled and processed
responsibly, while we simultaneously divert CO2 from our
atmosphere.”
"We take great pride in the significant strides made at ERS
through the E-carbon program,” said Joseph Cimorelli, Director of
Global Business Development at ERS International. “Our
collaboration with Hut 8 stands as a testament to the program's
success, creating a lasting impact not only within the mining
sector but resonating across industries. Hut 8’s team and their
commitment to making environmentally impactful choices with their
materials set a commendable standard for the industry. We look
forward to the ongoing partnership, dedicated to responsibly
addressing the e-waste challenges inherent in such a vast
industry.”
About Hut 8
Through innovation, imagination, and passion, Hut 8’s seasoned
executive team is bullish on building and operating computing
infrastructure that powers Bitcoin mining, traditional data
centres, and emerging technologies like AI and machine learning.
Hut 8's infrastructure portfolio includes seven sites:
five high performance computing data centres across British
Columbia and Ontario that offer cloud, co-location, managed
services, AI, machine learning, and VFX rendering computing
solutions, and two Bitcoin mining sites located in Southern
Alberta. Long-distinguished for its unique treasury strategy,
Hut 8 has one of the highest inventories of self-mined Bitcoin of
any publicly-traded company globally. For more information, visit
www.hut8.com and follow us on X (formerly known as Twitter) at
@Hut8Mining.
Cautionary Note Regarding Forward–Looking
Information
This press release includes "forward-looking information" and
"forward-looking statements" within the meaning of Canadian
securities laws and United States securities laws, respectively
(collectively, "forward-looking information"). All information,
other than statements of historical facts, included in this press
release that address activities, events or developments that the
Company expects or anticipates will or may occur in the future,
including such things as future business strategy, competitive
strengths, goals, expansion and growth of the Company's businesses,
operations, plans and other such matters is forward-looking
information. Forward-looking information is often identified by the
words "may", "would", "could", "should", "will", "intend", "plan",
"anticipate", "allow", "believe", "estimate", "expect", "predict",
"can", "might", "potential", "predict", "is designed to", "likely"
or similar expressions. In addition, any statements in this press
release that refer to expectations, projections or other
characterizations of future events or circumstances contain
forward-looking information and include, among others, statements
regarding: the Company’s plans, goals, targets, commitments and
strategies to advance its environmental, social and governance
objectives, the steps the Company plans to make to meet those
objectives, the Company’s strategy to ESG alignment, and plans to
expand on any ESG practices, the Company’s goal of achieving carbon
neutrality by 2025, the number of carbon credits to be received by
the Company, and the timing thereof, and any other statements that
are not historical facts.
Statements containing forward-looking information are not
historical facts, but instead represent management's expectations,
estimates and projections regarding future events based on certain
material factors and assumptions at the time the statement was
made. While considered reasonable by Hut 8 as of the date of this
press release, such statements 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, security
and cybersecurity threats and hacks, malicious actors or botnet
obtaining control of processing power on the Bitcoin network,
further development and acceptance of the Bitcoin network, changes
to Bitcoin mining difficulty, loss or destruction of private keys,
increases in fees for recording transactions in the Blockchain,
erroneous transactions, reliance on a limited number of key
employees, reliance on third party mining pool service providers,
regulatory changes, classification and tax changes, momentum
pricing risk, fraud and failure related to digital asset exchanges,
difficulty in obtaining banking services and financing, difficulty
in obtaining insurance, permits and licenses, internet and power
disruptions, geopolitical events, uncertainty in the development of
cryptographic and algorithmic protocols, uncertainty about the
acceptance or widespread use of digital assets, failure to
anticipate technology innovations, the COVID19 pandemic, climate
change, currency risk, lending risk and recovery of potential
losses, litigation risk, business integration risk, changes in
market demand, changes in network and infrastructure, system
interruption, changes in leasing arrangements, failure to achieve
intended benefits of power purchase agreements, potential for
interrupted delivery, or suspension of the delivery, of energy to
the Company's mining sites, and other risks related to the digital
asset and data centre business. For a complete list of the factors
that could affect the Company, please see the "Risk Factors"
section of the Company's Annual Information Form dated March 9,
2023, and Hut 8's other continuous disclosure documents which are
available on the Company's profile on the System for Electronic
Document Analysis and Retrieval at www.sedar.com and on the EDGAR
section of the U.S. Securities and Exchange Commission's website at
www.sec.gov.
No Offer or Solicitation
This press release is not intended to and shall not constitute
an offer to sell or the solicitation of an offer to sell or the
solicitation of an offer to buy any securities, nor shall there be
any sale of securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such jurisdiction.
No offer of securities shall be made except by means of a
prospectus meeting the requirements of Section 10 of the Securities
Act of 1933, as amended (the “Securities Act”) or in a transaction
exempt from the registration requirements of the Securities
Act.
Hut 8 Investor Relations
Sue Ennis
sue@hut8.io
Hut 8 Media Relations
Erin Dermer
erin.dermer@hut8.io
Hut 8 (TSX:HUT)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024
Hut 8 (TSX:HUT)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024