Hut 8 Announces Certification as Authorized MicroBT Repair Centre for Canada

Time:2022-01-05 Source: 829 views Trending Copy share

Hut 8 Mining Corp. (Nasdaq | TSX: HUT) ("Hut 8" or "the Company"), one of North America's largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018, is pleased to provide the following corporate update.

Hut 8 has achieved a strategic milestone in our relationship with MicroBT, with the execution of a Repair Services Agreement (the "Agreement"). The Agreement allows for Hut 8 to complete in-warranty work on MicroBT miners for all of North America on-site in Medicine Hat, Alberta. This arrangement is expected to provide long term financial benefits and strengthen relations between partners, while supporting a reduction in machine downtime for the Company.

Benefits to Hut 8 of this partnership with MicroBT include:

Access to replacement machine parts at cost

The ability to repair on-site reduces the downtime associated with the repair of miners for Hut 8 as well as our hosting clients; and,

Generating revenue with respect to both in and out of warranty repair services for MicroBT clients in North America and Northern Europe.

"We are thrilled to have this opportunity to deepen our relationship with MicroBT," said Jaime Leverton, Chief Executive Officer of Hut 8. "MicroBT is a preferred ASIC manufacturer and, in our view, one of the top Bitcoin mining machine manufacturers globally. This partnership also empowers our Alberta-based technicians to have greater access to the tools and resources they need to effectively and efficiently service our miners, maintain machine uptime, and be of greater service to our hosting clients and the Bitcoin mining community at large."

"MicroBT is pleased to announce the certification of Hut 8 as our authorized repair center in Canada," commented [Vincent Zhang, title] of MicroBT. "This authorized repair center status expands the valuable relationship between our companies and will ultimately allow Micro BT to better serve our many Whatsminer customers primary across North America aside from Hut 8."

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