Hut 8 Mining Named 11th in the 2021 OTCQX Best 50

TORONTO, Jan. 28, 2021 - Hut 8 Mining Corp. (TSX: HUT) is pleased to announce it has been ranked 11^th out of 10,000 in the 2021 OTCQX® Best 50, a ranking of top performing companies traded on the OTCQX Best Market last year.

The OTCQX Best 50 is an annual ranking of the top 50 U.S. and international companies traded on the OTCQX market. The ranking is calculated based on an equal weighting of one-year total return and average daily dollar volume growth in the previous calendar year. Companies in the 2021 OTCQX Best 50 were ranked based on their performance in 2020. Hut 8's 11^th place position out of 10,000 stocks traded on the OTC is not only a testament to its current value to investors but also a strong indicator of success to come under the new leadership of Hut 8 CEO, Jaime Leverton.

"On behalf of the entire leadership team, we are honoured to be ranked number eleven of over 10,000 other companies by the OTCQX Best 50," said Jaime Leverton, CEO, Hut 8, "We see this as a big win for Hut 8 and as an affirmation of our strategy and commitment to creating lasting value for our shareholders."

For the complete 2021 OTCQX Best 50 ranking, visit
https://www.otcmarkets.com/files/2021_OTCQX_Best_50.pdf.

The OTCQX Best Market offers transparent and efficient trading of established, investor-focused U.S. and global companies. To qualify for the OTCQX market, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

About Hut 8
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.

SOURCE Hut 8 Mining Corp.