Hut 8

Hut 8 announces that the management of the Medicine Hat facility operations have been transferred from the Bitfury Group to Hut 8 effective August 1, 2020. Previously, Hut 8 outsourced the operations and maintenance at the Medicine Hat facility to Bitfury with significant oversight from Hut 8. Now, Hut 8 has brought this in-house to reduce costs and streamline operations. This includes employing 12 site staff in Medicine Hat and managing all aspects of the site operations. Bi...tfury will continue to provide support with mining management software and IT assistance. This transfer of the management of site operations will allow Hut 8 to work more directly with site staff to streamline operations and lower costs to continue our focus on being a low cost bitcoin miner, said Jimmy Vaiopoulos, Interim Chief Executive Officer of Hut 8. This will save us upwards of $500,000 per year and I strongly believe this will benefit Hut 8, Bitfury, and our site staff.

Kingold, one of the mainland China’s most significant gold processing firms, allegedly collateralized 83 tons of fake yellow metal bars to secure 20 billion yuan (~$2.82 billion) worth of loans. To read the full article visit https://bit.ly/2O31NUn

ATTENTION: Please always be weary of fraudulent imitators of Hut 8 attempting to sell cloud mining or purchase bitcoin. Hut 8 does not buy or sell bitcoin from the public and does not sell cloud mining. Our official website is: www.hut8mining.com

Hut 8 announced that it has renegotiated key terms with Genesis Global Capital, LLC for its US$20 million facility including the interest rate and bitcoin collateral, saving Hut 8 up to $500,000 per year in interest costs. The interest rate on the loan has decreased from 9.85% to 8.00% per annum for the full balance of the loan and the bitcoin collateral required has increased from 85% of the loan value to 95%. Additionally, if the price of bitcoin drops below US$6,500, the bitcoin collateral will automatically change to 80% of the loan value and the interest rate adjusts to 10.00% per annum until the bitcoin price once again increases above US$6,500.

Fintech giant PayPal plans to roll out direct sales of cryptocurrency to its 325 million users. Word has begun to spread that they are going to allow buys and sells of crypto directly from PayPal and Venmo. Crypto is increasingly seen as an obvious way to bolster user numbers on fintech apps and create new revenue streams. PayPal CEO Dan Schulman has made it clear his plan this year is to aggressively monetize Venmo, which has over 52 million accounts. Read the full article at https://bit.ly/3fRASH3

Hut 8 Mining is pleased to announce that it has closed its previously announced underwritten public offering through a syndicate of underwriters led by Stifel GMP, Canaccord Genuity Corp., Echelon Wealth Partners Inc., Gravitas Securities Inc., Haywood Securities Inc., and Richardson GMP Limited. In connection with the closing of the Offering, the Underwriters have partially exercised their overallotment option. The Company issued 5,750,456 units at a price of $1.45 per Unit... for aggregate gross proceeds to the Company of $8,338,161. Our team is thrilled to implement this upgrade and continue providing investors exposure to both bitcoin mining and bitcoin itself, commented Jimmy Vaiopoulos, Interim CEO. We’re proud to close the first prospectus offering by a cryptocurrency mining company in Canada and further improve Hut 8’s lead as one of the largest public bitcoin miners. Read full release at https://bit.ly/3i0JY6i

Hut 8 Finalizes Terms of $7.5 Million Overnight Marketed Public Offering of Units Hut 8 has entered into an underwriting agreement with a syndicate of underwriters led by Stifel GMP and including Canaccord Genuity Corp., Echelon Wealth Partners Inc. Gravitas Securities Inc., Haywood Securities Inc., and Richardson GMP Limited to sell 5,172,500 units of the Company at a price of $1.45 per Unit for gross proceeds of $7,500,125. Read the full press release at https://bit.ly/3dWWml7

Data shows that nearly 10% of Bitcoin’s total circulating supply has been dormant - not been touched for over 10 years. This data boosts the narrative regarding Bitcoin’s scarcity, its actual supply may lower than previously thought!

China’s Inheritance Law might soon be updated to include internet property and cryptocurrency, including Bitcoin. The draft bill is currently being reviewed by the government. It now stipulates that when a natural person dies, his/her legacy is the personal legal property. This touches upon internet property and virtual currency such as Bitcoin. Full article available at https://bit.ly/2yLjlAA

Coinbase has bought institutional-oriented Bitcoin brokerage Tagomi! This high profile acquisition shows Bitcoin demand from institutions is surging. The Tagomi platform helps big investors automate crypto trades worth millions of US dollars! Read more about this acquisition at https://bit.ly/2AiBFBc

According to a recent research note from cryptocurrency fund BlockTower Capital, there is a perfect storm of fundamental drivers that are likely to increase Bitcoin demand in the coming months! (1) BTC has begun to decouple from traditional investment markets, namely equities. (2) Geopolitical tensions could flare between China and the U.S. once again as accusations over COVID-19 ramp up. (3) The world is becoming increasingly acclimated to digital technologies, meaning crypt...ocurrencies make that much more sense. (4) Small emerging market economies are starting to flag, with collapsing foreign currencies and social unrest, making Bitcoin a potential safe haven. (5) There has been an erosion of trust in central banking. Read more about this at https://bit.ly/2zlswYH

Hut 8 (TSX: HUT) creates value for investors through low production costs and appreciation of its bitcoin inventory. Hut 8 provides investors with exposure to bitcoin without the technical complexity of purchasing underlying cryptocurrency. www.hut8mining.com

In a rural village in El Salvador, Bitcoin is already replacing the hard-hit economy and providing a much-need solution for unbanked citizens residing in an area along the coast called Bitcoin Beach. In this Bitcoin Beach village, the locals rely almost solely on Bitcoin to transact and get essentials like groceries. Read more about El Salvador’s Bitcoin Beach at https://bit.ly/2SZCJR4

Billionaire VC, Chamath Palihapitiya, in an interview with CNBC shares his ideal method for escaping massive deflationBuy Bitcoin! Bitcoin cryptocurrency is being praised for its lack of correlation with other traditional assets - this feature alone would help investors obtain insurance against a deflating economy. Now all of a sudden even he is looking at bitcoin and the reason is [that] we are in this massive deflationary cycle, said Palihapitiya. I still struggle to... find anything that is as uncorrelated to anything and to everything else than bitcoin. Read the full article at https://bit.ly/2T3sBXz

Are you interested in Bitcoin? Hut 8 is the first blockchain or cryptocurrency company listed for trading on Canada’s premier exchange! Traded on the TSX under ‘HUT’ and in the US under ‘HUTMF’. For more information visit www.hut8mining.com

Bitcoin has long been known as a safe haven asset - especially during a recession. During this pandemic, Bitcoin has actually increased speaking volumes to the cryptocurrencies attractive aforementioned characteristic. Read more on bitcoin vs traditional currency values at https://bit.ly/2WtWAJd

Argentinians flee the Peso for Bitcoin at record rates! As the global economy isn’t overly healthy, things hit especially bad in Argentina - suffering from the worst inflation the countries native fiat currency has experienced. Citizens are watching their hard-earned Pesos be devaluing at a rapid rate therefore turning to Bitcoin as a safe-haven. Read more at https://bit.ly/2YvVmzK

Bitcoin was just mentioned in the TV show Billions again! The mention of Bitcoin in Billions is far from the first time crypto has been mention on a TV show, but as more mentions begin to occur, we can see the term more widely understood and accepted by viewers. With the public interest in cryptocurrency trending heavily upwards over the past month, Billions mention of bitcoin was at a perfect time! Read more at https://bit.ly/2Sy8RLo

Coinbase Commerce, a platform that supports cryptocurrency payments for internet retailers, just passed $200 million in total transactions processed over its two-year history. While the coronavirus pandemic is wreaking havoc with traditional markets, the news from Coinbase Commerce would imply consumers are still comfortable using Bitcoin (BTC) to pay for products. Read the full article at https://bit.ly/2yjxQLo

Could the ‘Perfect Storm’ be brewing for the bitcoin price? With government funding prominent and the halving of bitcoin upcoming - these factors could be working in favour of the increase of bitcoin price. Read the full Forbes article on the ‘perfect storm’ at https://bit.ly/2yhpdAS

We recently saw the largest Bitcoin transaction to date in U.S dollar value and it costed mere pennies to complete. Bitfinex moved 1.1 Billion in Bitcoin for a transfer fee of $0.70. This fee is drastically less expensive compared to traditional means of transferring money. For example, using TransferWise, it would cost $3,600 to transfer $1 million. Read more at https://bit.ly/2Kab37d