Hut 8 Corp. · NASDAQ:HUT
Hut 8 — Merger or Acquisition (June 2023)
18 slides from Hut 8's merger presentation, June 2023
Slide 1: Strategic Merger of Hut 8 Mining and US Bitcoin Corp
Strategic Merger of Hut 8 Mining and US Bitcoin Corp Presentation for Investors May June 2023 2023
Slide 2: Forward-Looking Statements
2 FORWARD-LOOKING STATEMENTS This presentation includes “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and United States securities laws, respectively (collectively, “forward looking information”). All information, other than statements
Slide 3: Disclaimer
3 DISCLAIMER Except where otherwise indicate herein, the information provided herein is based on matters as they exist as of the date of preparation and not as of any future date, and will not be updated or otherwise revised to reflect information that subsequently becomes available, or circumstance
Slide 4: Transaction overview
Strategic Merger of Hut 8 and USBTC 4 Transaction overview Proposed transaction ▸ Hut 8 Mining Corp. ("Hut 8") and U.S. Data Mining Group, Inc. dba US Bitcoin Corp ("USBTC") to combine in an all-stock merger of equals transaction (“Proposed Transaction”) ▸ Hut 8 and USBTC to become wholly-owned subs
Slide 5: Ownership of New Hut
Strategic Merger of Hut 8 and USBTC 5 Ownership of New Hut(1) Common Shares/Capital Common Shares/Capital Stock Outstanding Stock Outstanding 221,278,374 64,313,999 Fully Diluted In-the-Money Fully Diluted In-the-Money Shares Outstanding Shares Outstanding 221,604,970 66,003,295 Exchange Ratio with
Slide 6: Creating a leading energy and infrastructure platform of the future
Strategic Merger of Hut 8 and USBTC 6 Creating a leading energy and infrastructure platform of the future New Hut establishes a large-scale publicly traded Bitcoin miner, with expected1: Mining sites across Installed self-mining Total installed capacity North America2 capacity3 under management2 Mar
Slide 7: Hut is merging with USBTC, a leading, vertically integrated miner
Strategic Merger of Hut 8 and USBTC 7 Hut 8 is merging with USBTC, a leading, vertically integrated miner Year founded ▸ 2018 ▸ 2020 Ownership ▸ Canada-based public company ▸ US-based private company Headquarters ▸ Toronto, Ontario, Canada ▸ Miami, Florida, United States Team members ▸ (105) ▸ (110)
Slide 8: Transaction thesis: Supercharging the next chapter of New Hut growth
Strategic Merger of Hut 8 and USBTC 8 Transaction thesis: Supercharging the next chapter of New Hut growth Thesis point Expected impact Scale USBTC’s portfolio of owned and managed sites significantly accelerates Hut 8’s growth trajectory Scope USBTC’s track record of operating rigor and execution i
Slide 9: New Hut will operate an expanded portfolio of infrastructure across North America
Strategic Merger of Hut 8 and USBTC 9 New Hut will operate an expanded portfolio of infrastructure across North America Digital asset mining sites1 1. Drumheller, AB 4. Charlie - Kearney, NE2 2. Medicine Hat, AB 5. Delta - Granbury, TX2 3. Alpha - Niagara Falls, NY 6. Echo - King Mountain, TX3 High
Slide 10: USBTC diversifies the site portfolio across geographies and capabilities
Strategic Merger of Hut 8 and USBTC 10 USBTC diversifies the site portfolio across geographies and capabilities Alpha Charlie1 Delta1 Echo2 Location Niagara Falls, NY Kearney, NE Granbury, TX King Mountain, TX Number of sub-sites 1 1 1 4 USMIO3 - Self-mining ✓ Hosting - - - Site revenue profile USMI
Slide 11: Hut and USBTC are strategically aligned
Strategic Merger of Hut 8 and USBTC 11 Hut 8 and USBTC are strategically aligned Resilience + ▸ Resilient market veterans ▸ Nimble, innovative technologists innovation Hut 8 is a pioneer of digital asset mining and has USBTC was founded in 2020 and has quickly navigated bull and bear market cycles t
Slide 12: New Hut expected to advance diversified strategy and operating rigor
Strategic Merger of Hut 8 and USBTC 12 New Hut expected to advance diversified strategy and operating rigor 1. Platform 2. Power 3. IP 4. People USBTC is expected to USBTC is expected to strengthen USBTC’s purpose-built USBTC is expected to advance New Hut’s focus New Hut’s energy strategy and opera
Slide 13: Platform: Revenue diversification reduces exposure to mining economics
Strategic Merger of Hut 8 and USBTC 13 1 Platform: Revenue diversification reduces exposure to mining economics Existing line of revenue New line of revenue High Self-mining High performance computing Hosting USBTC brings to Repair New Hut centre Energy Managed infrastructure Equipment management op
Slide 14: Power: New Hut to advance energy strategy and commitment to ESG
Strategic Merger of Hut 8 and USBTC 14 2 Power: New Hut to advance energy strategy and commitment to ESG An evolution of Hut 8’s approach to …accelerates achievement of energy origination and management… Hut 8’s ESG objectives USBTC brings a disciplined, technical approach to building and USBTC intr
Slide 15: Intellectual property: Optimizing site returns with advanced technology
Strategic Merger of Hut 8 and USBTC 15 3 Intellectual property: Optimizing site returns with advanced technology Operator Reactor Purpose-built asset management platform drives hashrate Purpose-built energy curtailment platform drives enhanced site efficiency by automating mining operations returns
Slide 16: People: Uniting proven business leaders with entrepreneurial strategists
Strategic Merger of Hut 8 and USBTC 16 4 People: Uniting proven business leaders with entrepreneurial strategists Michael Ho Jaime Leverton Co-founder & CEO, USBTC CEO, Hut 8 Mining ▸ An industry pioneer, Mike built and sold bitcoin mining WIP facilities and equipment to public ▸ Veteran technology
Slide 17: Hut 8 Capitalization Structure
Strategic Merger of Hut 8 and USBTC 17 Hut 8 Capitalization Structure TSX, NASDAQ: HUT Shares outstanding 220,901,254 Warrants 11,313,918 Options 115,000 Restricted stock units (RSUs) 8,104,779 Deferred stock units (DSUs) 256,315 Notes: As at March 31, 2023
Slide 18: Thank you
Thank you Investor contact Sue Ennis sue@hut8.io