Hut 8 Mining Corp. provides the following corporate update. 276 Bitcoin were mined, resulting in an average production rate of 8.9 Bitcoin per day; 100% of the self-mined Bitcoin for the month of December were deposited into custody, consistent with Hut 8's Hodl strategy.

Total Bitcoin balance held in reserve is 5,518 as of December 31, 2021, a 97% increase from the prior year-end; and Installed operating capacity currently sits at 2.0 EH/s, a 125% increase in hashrate from December 31, 2020.