Hut 8 Steadily Builds Talent Roster with the Appointment of Tanya Woods as General Counsel, EVP of Regulatory Affairs

TORONTO, Jan. 26, 2021 - Hut 8 Mining Corp. ("Hut 8" or "the Company") (TSX: HUT) (OTCQX: HUTMF), a publicly listed bitcoin mining company, is pleased to announce the appointment of Tanya Woods as General Counsel, Executive Vice President of Regulatory Affairs, effective February 1st, 2021. A key role in the company's transition, Ms. Woods joins a diverse and ambitious team, under the direction of newly appointed CEO Jaime Leverton, to help propel future success and growth.

Ms. Woods brings nearly 20 years of experience as a seasoned legal professional, successful strategic advocate, author and global public speaker to her role at Hut 8 with established expertise in Blockchain, peer-to-peer technology, social impact and sustainable financial innovation.

Prior to joining Hut 8, Ms. Woods completed two Masters of Laws including specialization in Technology Law and held senior level positions representing national and multinational organizations as a strategic advisor and legal counsel in the telecommunications, technology, sustainability and entertainment sectors for leading companies such as BCE Inc., Microsoft and Nintendo. She most recently served as founding Managing Director of Canada's first Chamber of Digital Commerce to advocate for and grow the country's blockchain ecosystem. Ms. Woods is a champion for Canada's digital innovation ecosystem domestically and globally and has represented the Government of Canada and industry stakeholders in global trade negotiations.

"On behalf of the entire Hut 8 leadership team are excited to welcome Tanya to Hut 8 and are delighted to have her as a part of the team," says Jaime Leverton, Chief Executive Officer, "She brings a long history of expertise and a proven track-record as a successful advocate for innovation, growth and adoption within the blockchain ecosystem in Canada and internationally. Her experience in advocating, developing and executing policy and working closely with government regulators and policymakers will be a key asset to the Hut 8 team and its future success."

"I am delighted to join Hut 8, a Canadian leader in the cryptocurrency sector, in an exciting and crucial year for the organization and for the broader industry. I look forward to being a part of Hut 8's growth as a long-term advocate for digital innovation and a passionate champion of Blockchain technology," says Ms. Woods.

Ms. Woods is an active philanthropic entrepreneur and has been named among the top 10 "Leading Tech Women in Canada" by the Government of Canada, a "Trailblazer" by the Canadian Broadcasting Corporation, a "Top 40 under 40" in Canada's Capital by the Ottawa Chamber of Commerce and the Ottawa Business Journal and a Global Civic Leader by the Obama Foundation.

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.

Keep up-to-date on Hut 8 events and developments and join our online communities at Facebook, Twitter, Instagram and LinkedIn.

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 Regul ation 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.