TORONTO, April 8, 2021 /CNW/ - Hut 8 Mining Corp. (TSX:
HUT) ("Hut 8" or the "Company"), one of North America's oldest, largest and most
innovative bitcoin miners, today announced that it will welcome
Shane Downey, CPA, CA as the
incoming Chief Financial Officer at Hut 8 Mining succeeding
Jimmy Vaiopoulos who is stepping
down from his position but will continue to serve the company in an
advisory role starting on April
26th, 2021.
Mr. Downey is a strategic finance leader and complements Hut 8's
management team with a breadth of experience in corporate and
operational finance, cross-border M&A and capital investment
planning. With more than 15 years of experience in progressively
senior roles, he is joining Hut 8 from York Group of Companies,
where he led an active M&A strategy, combined with corporate
finance efforts focused on raising both private equity and debt.
Previously, Mr. Downey was CFO of Polaris Infrastructure (TSX:
PIF), a Latin America focused
renewable energy business. While at Polaris, Mr. Downey led all
aspects of managing a U$215 million project lending syndicate, in
addition to the execution of complex cross border M&A. Mr.
Downey is a Chartered Professional Accountant, with a Bachelor of
Science from Cornell University.
"I am excited at the prospect of joining the impressive
management team at Hut 8 as the Company continues to execute on its
strategy," said Shane Downey,
incoming CFO. "I believe the Company is well-positioned to deliver
on its objectives, including continued diversification of revenue
streams."
Jaime Leverton, the Company's
Chief Executive Officer stated, "We are thrilled to welcome Shane
as Chief Financial Officer of Hut 8 Mining. Shane brings a
tremendous breadth of experience and acumen in M&A and
corporate finance and has a track record of delivering strong
results as CFO of a TSX-listed reporting issuer." "We want to
thank Jimmy for all of his great contributions to the Company and
we are pleased that he will remain as a valuable resource to Hut
8's team moving forward."
Mr. Vaiopoulos has entered into a twelve-month agreement with
Hut 8 Mining to assist with the transition to Shane Downey as Hut 8's new Chief Financial
Officer and to serve as an ongoing advisor to the team on financial
matters, ensuring a seamless transition from his previous role as
Chief Financial Officer.
About Hut 8: Hut 8 is one of North America's oldest, largest and most
innovative bitcoin miners. Hut 8 has one of the highest installed
capacity rates in the industry and is #1 globally in held,
self-mined Bitcoin of any crypto miner or publicly traded company.
Recently ranked 11th (of 10,000) on the 2021 OTCQX® Best 50, and
the first publicly traded miner on the TSX, the Hut 8 leadership
team is continually looking for ways to accelerate innovation in
high performance computing, and the blockchain ecosystem. We are
stewards of powerful, industry-leading solutions, and drivers of
innovation in digital asset mining and high performance
computing. – Hut 8 applies a growth mindset to our revenue
diversification, ESG and carbon footprint reduction strategy. We
are a company committed to growing shareholder value regardless of
#BTC market direction. #HodltheHut
Forward-Looking Information
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 Hut 8's Annual
Information Form dated March 25,
2021, 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