***UPDATE*** Announcement | HUT 8 MINING CORP | Informative Notice

Initially announced on February 7, 2023, HUT 8 MINING CORP (TSX: HUT, Nasdaq: HUT) entered into a definitive business combination agreement with US Bitcoin Corp (USBTC) under which the companies will combine in an all-stock merger of equals. The combined company will be named “Hut 8 Corp” (New Hut) and will be a U.S.-domiciled entity. New Hut is expected to be listed on Nasdaq and the TSX under the ticker symbol HUT. Existing HUT 8 MINING CORP shareholders and USBTC stockholders will each collectively own approximately 50% each of the stock of New Hut. HUT 8 MINING CORP shareholders will receive 0.2 shares of New Hut, effectively undergoing a 1:5 consolidation of its common shares. Following the consolidation, New Hut will acquire USBTC at a ratio of 0.6716 shares of New Hut per USBTC capital stock.

Solactive notes that although New Hut will re-domicile to the U.S. it will continue to operate in the space of digital asset mining and plans to maintain both TSX and Nasdaq listings under the existing ticker.

HUT 8 MINING CORP announced the completion of the business combination on November 30, 2023. As a result of the business combination, HUT 8 MINING CORP common shares will cease trading on NASDAQ and the TSX prior to the open of trading on December 4, 2023. As of the open of trading on December 4, 2023, shares of New Hut common stock will trade on NASDAQ and the TSX under the symbol “HUT,” post consolidation.

Solactive will implement a 1:5 reverse stock split and name change (HUT 8 CORP) on the effective date, December 4, 2023 (open).

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