Fintech PR
Hut 8 Mining Production and Operations Update for August 2023
At 9,255 BTC, Hut 8 continues to have one of the largest self-mined Bitcoin reserves of any publicly traded company
103 Bitcoin mined in August
TORONTO, Sept. 12, 2023 /CNW/ – Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT), (“Hut 8” or the “Company”) one of North America’s largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, mined 103 Bitcoin in August 2023.
- 103 Bitcoin were generated, resulting in an average production rate of approximately 3.3 Bitcoin per day
- No Bitcoin were sold during the month
- Total balance of Bitcoin in reserve was 9,255 on August 31 – 7,158 of which was unencumbered
- Installed ASIC hashrate capacity at our Alberta facilities was 2.6 EH/s at the end of the month
- Hut 8 produced 39.6 BTC/EH in August
- Repair and restoration efforts at our Drumheller, Alberta site continued as the team repaired more than 2,253 hashboards throughout the month, and the site is currently operating at approximately 25% of its total installed hash rate.
- Despite a sharp increase in market energy prices last month, the team utilized mutually beneficial terms in the Electric Service Agreement covering its Medicine Hat site, which provides the opportunity for both parties to benefit from high prices in the Alberta power market while helping to stabilize the electrical grid.
- Hut 8 High Performance Computing completed upgrades at our Kelowna data centre in early August, adding 100G diverse network infrastructure, improving reliability, capacity, and routing for customers.
“Our 9,255 Bitcoin held on balance sheet continues to provide Hut 8 and our shareholders with a strategic and differentiated advantage that we’re bullish on as we head into the halving,” said Jaime Leverton, CEO of Hut 8. “Our progress toward completing our transaction with USBTC continues with our shareholder meeting to approve the transaction set for September 12. If all conditions are met and approvals are attained, the new Hut 8 will have highly diversified fiat revenue streams, robust self-mining capacity, and 825 MW of total power under management.”
Through innovation, imagination, and passion, Hut 8’s seasoned executive team is bullish on building and operating computing infrastructure that powers Bitcoin mining, traditional data centres, and emerging technologies like AI and machine learning. Hut 8’s infrastructure portfolio includes seven sites: five high performance computing data centres across British Columbia and Ontario that offer cloud, co-location, managed services, A.I., machine learning, and VFX rendering computing solutions, and two Bitcoin mining sites located in Southern Alberta. Long-distinguished for its unique treasury strategy, Hut 8 has one of the highest inventories of self-mined Bitcoin of any publicly-traded company globally. Follow us on X (formerly known as Twitter) at @Hut8Mining.
This press release 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 of historical facts, included in this press release that address activities, events or developments that the Company expects or anticipates will or may occur in the future, including such things as future business strategy, competitive strengths, goals, expansion and growth of the Company’s businesses, operations, plans and other such matters is forward-looking information. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “allow”, “believe”, “estimate”, “expect”, “predict”, “can”, “might”, “potential”, “predict”, “is designed to”, “likely” or similar expressions. In addition, any statements in this press release that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information and include, among others, statements regarding: Bitcoin network dynamics; the Company’s ability to advance its longstanding HODL strategy; the Company’s ability to produce additional Bitcoin and maintain existing rates of productivity at all sites; the Company’s ability to continue mining digital assets efficiently; the sale of the Company’s Bitcoin production and the proposed use of proceeds from such sale; the Company’s plans with respect to the energization of the miners that were removed from the North Bay facility; the Company’s expected recurring revenue and growth rate from its high performance computing business; the remediation of the operational issues at the Company’s Drumheller facility, and the timing thereof; expectations related to Hut 8 Corp.’s hashrate and self-mining capacity; the ability of Hut 8 and US Bitcoin Corp to complete the proposed business combination transaction, including, receipt of required regulatory approvals, shareholder approvals, court approvals, stock exchange approvals and satisfaction of other closing customary conditions; and the Company’s ability to successfully navigate the current market.
Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While considered reasonable by Hut 8 as of the date of this press release, such statements 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, security and cybersecurity threats and hacks, malicious actors or botnet obtaining control of processing power on the Bitcoin network, further development and acceptance of the Bitcoin network, changes to Bitcoin mining difficulty, loss or destruction of private keys, increases in fees for recording transactions in the Blockchain, erroneous transactions, reliance on a limited number of key employees, reliance on third party mining pool service providers, regulatory changes, classification and tax changes, momentum pricing risk, fraud and failure related to digital asset exchanges, difficulty in obtaining banking services and financing, difficulty in obtaining insurance, permits and licenses, internet and power disruptions, geopolitical events, uncertainty in the development of cryptographic and algorithmic protocols, uncertainty about the acceptance or widespread use of digital assets, failure to anticipate technology innovations, climate change, currency risk, lending risk and recovery of potential losses, litigation risk, business integration risk, changes in market demand, changes in network and infrastructure, system interruption, changes in leasing arrangements, failure to achieve intended benefits of power purchase agreements, potential for interrupted delivery, or suspension of the delivery, of energy to the Company’s mining sites, and other risks related to the digital asset and data centre business. For a complete list of the factors that could affect the Company, please see the “Risk Factors” section of the Company’s Annual Information Form dated March 9, 2023, and Hut 8’s other continuous disclosure documents which are available on the Company’s profile on the System for Electronic Document Analysis and Retrieval at www.sedar.com and on the EDGAR section of the U.S. Securities and Exchange Commission’s website at www.sec.gov.
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. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described in this press release as intended, planned, anticipated, believed, sought, proposed, estimated, forecasted, expected, projected or targeted and such forward-looking statements included in this press release should not be unduly relied upon. The impact of any one assumption, risk, uncertainty, or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Hut 8’s future decisions and actions will depend on management’s assessment of all information at the relevant time. 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.
In connection with the proposed business combination (the “Transaction”) of Hut 8 and U.S. Data Mining Group, Inc. (dba US Bitcoin Corp.) (“USBTC”), that, if completed, would result in Hut 8 Corp. (“New Hut”) becoming a new public company, New Hut has filed a registration statement on Form S-4 (the “Form S-4”) with the U.S. Securities and Exchange Commission (the “SEC”). USBTC and Hut 8 urge investors, shareholders, and other interested persons to read the Form S-4, including any amendments thereto, the Hut meeting circular, as well as other documents to be filed with the SEC and documents to be filed with Canadian securities regulatory authorities in connection with the Transaction, as these materials will contain important information about USBTC, Hut 8, New Hut and the Transaction. New Hut also has, and will, file other documents regarding the Transaction with the SEC. This press release is not a substitute for the Form S-4 or any other documents that may be sent to Hut’s shareholders or USBTC’s stockholders in connection with the Transaction. Investors and security holders will be able to obtain free copies of the Form S-4 and all other relevant documents filed or that will be filed with the SEC by New Hut through the website maintained by the SEC at www.sec.gov or by contacting the investor relations department of Hut 8 at [email protected] and of USBTC at [email protected].
This press release is not intended to and shall not constitute an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended (the “Securities Act”) or in a transaction exempt from the registration requirements of the Securities Act.
View original content:https://www.prnewswire.co.uk/news-releases/hut-8-mining-production-and-operations-update-for-august-2023-301924344.html
MANCHESTER, England, Dec. 23, 2024 /PRNewswire/ — Smartkem (Nasdaq: SMTK), which is seeking to change the world of electronics using its disruptive organic thin-film transistors (OTFTs), announced it has completed its previously announced concurrent public and private offerings of its securities, including shares of its common stock and common stock equivalents, for an aggregate total gross proceeds of $7.65 million.
Smartkem issued 1,449,997 registered shares of common stock and unregistered Class D warrants to purchase up to 1,449,997 shares of common stock to investors in concurrent public and private offerings at a price of $3.00 per share and related Class D warrant. Each investor received one Class D warrant for each share purchased in the public offering.
Pursuant to the separate concurrent private placement, the Company sold to certain institutional investors, including existing investors in the Company, 169,784 unregistered shares of common stock, unregistered pre-funded warrants to purchase up to 930,215 shares of common stock and unregistered Class D warrants to purchase up to 1,099,999 shares of common stock at a price of $3.00 per share and related Class D warrant and a price of $2.9999 per pre-funded warrant and related Class D warrant. Each investor received one Class D warrant for each share of common stock or pre- funded warrant purchased in the offering.
The Class D warrants are immediately exercisable at an exercise price of $3.00 per share and expire on December 31, 2025. The pre-funded warrants are immediately exercisable at an exercise price of $0.0001 per share and may be exercised at any time until all of the pre-funded warrants have been exercised in full.
The gross proceeds of the offerings described above were $7.65 million before deducting placement agent fees and other offering expenses payable by the Company. The Company intends to use the net proceeds of the offerings for working capital and general corporate purposes.
Craig-Hallum Capital Group LLC acted as the Company’s exclusive placement agent for the offerings.
In connection with the offerings described above, the Company has entered into a registration rights offering pursuant to which it has agreed to register the shares of common stock issued in the private placement, the shares of common stock issuable upon the exercise of the Class D warrants and the pre-funded warrants sold in the offerings and certain other securities for resale by the holders thereof no later than the earlier of (i) the 10th day after the filing of the Company’s annual report on Form 10-K for the year ended December 31, 2024 or (ii) April 25, 2025.
The sale of the registered shares of common stock was made pursuant to Smartkem’s effective shelf registration statement on Form S-3 (file no. 333- 281608), including a base prospectus, filed with the Securities and Exchange Commission (the “SEC”) and declared effective by the SEC on August 22, 2024 and a prospectus supplement dated December 18, 2024 filed with the SEC. Copies of the prospectus supplement and the accompanying base prospectus may be obtained from Craig-Hallum Capital Group LLC, Attention: Equity Capital Markets, 222 South Ninth Street, Suite 350, Minneapolis, MN 55402, by telephone at (612) 334-6300 or by email at [email protected]. Alternatively, copies of the prospectus supplement and the accompanying base prospectus may be obtained for free at the SEC’s EDGAR website at www.sec.gov.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any Smartkem securities.
About Smartkem
Smartkem is seeking to reshape the world of electronics with its disruptive organic thin-film transistors (OTFTs) that have the potential to revolutionize the display industry. Smartkem’s patented TRUFLEX® liquid semiconductor polymers can be used to make a new type of transistor that can be used in a number of display technologies, including next generation microLED displays. Smartkem’s organic inks enable low temperature printing processes that are compatible with existing manufacturing infrastructure to deliver low-cost displays that outperform existing technology.
Smartkem develops its materials at its research and development facility in Manchester, UK and provides prototyping services at the Centre for Process Innovation (CPI) at Sedgefield, UK. It has a field application office in Taiwan. The company has an extensive IP portfolio including 138 granted patents across 18 patent families, 16 pending patents and 40 codified trade secrets.
Forward-Looking Statements
All statements in this press release that are not historical are forward-looking statements, including, among other things, the expected use of proceeds received from the offerings. These statements are not historical facts but rather are based on Smartkem Inc.’s current expectations, estimates, and projections regarding its business, operations and other similar or related factors. Words such as “may,” “will,” “could,” “would,” “should,” “anticipate,” “predict,” “potential,” “continue,” “expect,” “intend,” “plan,” “project,” “believe,” “estimate,” and other similar or related expressions are used to identify these forward-looking statements, although not all forward-looking statements contain these words. You should not place undue reliance on forward-looking statements because they involve known and unknown risks, uncertainties, and assumptions that are difficult or impossible to predict and, in some cases, beyond the Company’s control. Actual results may differ materially from those in the forward-looking statements as a result of a number of factors, including those described in the Company’s filings with the Securities and Exchange Commission. The Company undertakes no obligation to revise or update information in this release to reflect events or circumstances in the future, even if new information becomes available.
View original content:https://www.prnewswire.co.uk/news-releases/smartkem-closes-7-65-million-offering-302337973.html
PASAY CITY, Philippines, Dec. 23, 2024 /PRNewswire/ — The SM Group, through its integrated property developer arm, SM Prime Holdings, Inc., is setting a benchmark in sustainable and disaster-resilient design. Embracing innovation, the company integrates environmental considerations and community well-being into its projects, reflecting a commitment to long-term sustainability.
The SM group’s foresight to incorporate best building practices continues with the next generation, as Jessica Sy, Vice President and Head of Design, Innovation, and Strategy of SM Prime and its residential arm SM Development Corporation (SMDC) emphasizes respecting the land through the creation of green buildings.
“We want to make sure that when we develop a building, it’s going to last for a long time,” said Ms. Sy. “We’ve seen that what’s good for our communities is actually good for our company because addressing their needs also strengthens our connection with them as our customers.”
Drawing from lessons on her first year in studying architecture, Ms. Sy noted the role of water in any development. It can be both beautiful—a source of life or unpredictable in nature.
“As architects, this was one of the first few things we were taught,” Ms. Sy added. “Water is life-giving but it can also change everything. Floods in properties could heavily impact and uproot the lives of many families.”
Field Residences is an example of SM’s commitment in meeting the highest standards of disaster resilience in its development.
A new rainwater detention tank was completed in September this year after SMDC found that water levels in Field Residences had risen over the years. It is designed to handle extreme rainfall similar to those during Typhoon Ondoy (Ketsana), which brought 455 millimeters of rain in 24 hours.
How architecture can also build values
SMDC also promotes local identity in its projects by specifically choosing native plants that are more well-suited to the area.
“We try to reduce the types of plants that don’t benefit the local environment nor enliven its biodiversity,” she said. “What we do is to identify plants that can prosper here such as the endemic katmon [Dillenia philippinensis] tree.”
SMDC initiated to have future nurseries of these plants in various developments.
“The decisions that we have today are going to impact the long-term future,” she added. “With sustainability at the forefront of our conversations nowadays, we see that that’s part of the legacy that we need to complete.”
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Fintech PR
H.I.G. Realty Announces Strategic Partnership with Queen Mary BioEnterprises Innovation Centre in London
LONDON, Dec. 23, 2024 /PRNewswire/ — H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $67 billion of capital under management, is pleased to announce that an affiliate has signed a strategic partnership (the “Partnership”) with Queen Mary BioEnterprises Innovation Centre (“QMB”), with an agreement to deliver 40,000 square feet of incubator space at its flagship innovation centre in Whitechapel, London.
H.I.G. and its development partner, Lateral, a UK-based real estate developer, will collaborate with Barts Life Sciences (BLS), Barts Health NHS Trust, Queen Mary University of London (QMUL), and the U.K. Department of Health & Social Care on this project, marking a significant milestone for the Whitechapel Life Science Cluster. The additional space will support the goal of creating a world-class life sciences cluster in the heart of Whitechapel, accelerating the development of life-changing healthcare treatments and outcomes.
Additionally, the development of a state-of-the-art incubator space and its shared services will create a venture-building environment and ecosystem, critical in attracting startup companies and spinouts. QMB’s extensive experience operating incubator spaces will also help deliver long-term, high-quality jobs to the Whitechapel area, foster career pathways, and promote education in the life sciences and STEM sectors.
Jérôme Fouillé, Managing Director at H.I.G. Realty in Europe, commented, “We are thrilled to partner with QMB in developing this first-class incubator space at Cavell Street. Our collaboration marks a significant step in creating a vibrant life sciences cluster in Whitechapel and furthering the growth of H.I.G.’s life sciences real estate platform in the U.K. By providing high-quality facilities and support services, we are cultivating an environment where innovative startups can thrive and contribute to groundbreaking health outcomes.”
Ted Webster, Chairman of QMB, commented, “Our partnership with H.I.G. is an exciting opportunity to expand our proven model of supporting life science startups. The new space will enable us to nurture the next generation of innovative companies, providing them with the resources and conditions they need to succeed. We are committed to driving scientific advancement and delivering significant benefits to the local community and beyond.”
About Queen Mary BioEnterprises Innovation Centre
The existing QMB incubator opened in 2011 as London’s first completely new-built facility for both early and late-stage chemistry and biology start-ups, offering 39,000 square feet of commercial wet laboratory and office space. QMB’s long track record of supporting the growth of innovative companies and facilitating access to the world-class facilities at Queen Mary University of London’s School of Medicine and Dentistry has proven a huge success. This proven expertise ensures that the new incubator space at Cavell Street will provide a nurturing environment for emerging life science companies to innovate and grow. For more information, visit qmbioenterprises.com.
About H.I.G. Capital
H.I.G. is a leading global alternative investment firm with $67 billion of capital under management.* Based in Miami, and with offices in Atlanta, Boston, Chicago, Los Angeles, New York, and San Francisco in the United States, as well as international affiliate offices in Hamburg, London, Luxembourg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro, São Paulo, Dubai, and Hong Kong, H.I.G. specializes in providing both debt and equity capital to mid-sized companies, utilizing a flexible and operationally focused/value-added approach:
- H.I.G.’s equity funds invest in management buyouts, recapitalizations, and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
- H.I.G.’s debt funds invest in senior, unitranche, and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. also manages a publicly traded BDC, WhiteHorse Finance.
- H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.
- H.I.G. Infrastructure focuses on making value-add and core plus investments in the infrastructure sector.
Since its founding in 1993, H.I.G. has invested in and managed more than 400 companies worldwide. The Firm’s current portfolio includes more than 100 companies with combined sales in excess of $53 billion. For more information, please refer to the H.I.G. website at hig.com.
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*Based on total capital raised by H.I.G. Capital and its affiliates. |
Contact:
Riccardo Dallolio
Managing Director
[email protected]
Jérôme Fouillé
Managing Director
[email protected]
H.I.G. Capital
10 Grosvenor Street
2nd Floor
London W1K 4QB
United Kingdom
P +44 (0) 207 318 5700
hig.com
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View original content:https://www.prnewswire.co.uk/news-releases/hig-realty-announces-strategic-partnership-with-queen-mary-bioenterprises-innovation-centre-in-london-302337705.html
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