Hut 8 Appoints Jason Zaluski as Head of Technology as it Continues to Build Talent Roster

TORONTO, Jan. 25, 2021 - Hut 8 Mining Corp. ("Hut 8" or "the Company") (TSX: HUT) (OTCQX: HUTMF), a publicly listed bitcoin mining company, is pleased to announce Jason Zaluski as Head of Technology, effective February 1st, 2021. Mr. Zaluski joins Hut 8's driven team under the direction of CEO Jaime Leverton and will play a key role in leading IT operations and fleet management.

An experienced technologist and strategist, Mr. Zaluski brings a wealth of expertise in computer information systems and business administration to Hut 8 as a founding member of a blockchain startup in Toronto where he led its initial product management and established its crypto mining community.

Prior to joining Hut 8, Mr. Zaluski built his own consulting company specializing in the operation of cryptocurrency mining facilities and blockchain infrastructure services, working closely with numerous leading hardware providers, preeminent organizations, analysts, and investors in the space.

"On behalf of the entire Hut 8 executive leadership team, we are thrilled to welcome Jason to Hut 8 and are excited to have him join our ambitious talent roster," says Jaime Leverton, Chief Executive Officer, "His experience as a strategic technologist alongside his proven track record for impactful IT operations management and entrepreneurialism will be vital assets to propelling Hut 8's growth."

"I am excited to be joining the Hut 8 team and becoming a part of an innovative, Canadian leader in the cryptocurrency sector with a unique position for growth in the market. As a longtime advocate and strategist for the blockchain industry, I look forward to contributing to the organization's success in such a significant and exhilarating year for Bitcoin," says Mr. Zaluski.

Mr. Zaluski holds a Bachelor in Computer Information Systems from Mount Royal University and a Masters of Business Administration from Saint Mary's University.

ABOUT HUT 8 MINING CORP.

Hut 8 is a bitcoin mining company with industrial scale operations in Canada. Hut 8 creates value for investors through low production costs and appreciation of its bitcoin inventory. The company provides investors with direct exposure to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. Investors avoid the need to create online wallets, wire money offshore, and safely store their bitcoin.

The Company's common shares are listed under the symbol "HUT" on the TSX and as "HUTMF" on the OTCQX Exchange.

Key investment highlights and FAQ's: https://www.hut8mining.com/investors.

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FORWARD-LOOKING STATEMENTS

Certain information in this press release constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology, such as "plans", "targets", "expects" or "does not expect", "is expected", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts, but instead represent management's expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by Hut 8 as of the date of this press release, 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 the factors described in greater detail in the "Risk Factors" section of the Filing Statement dated March 1, 2018 relating to the Qualifying Transaction of Oriana Resources Corporation and Hut 8, which is available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Hut 8; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Neither the TSX nor its Regulation Services Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Hut 8 Mining Corp.