Benzinga | Jul 2, 2021 09:26AM EDT

Hut 8, Bitfury BV Agree To Terminate Investor Rights Agreement

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, supporting open and decentralized systems since 2018, is pleased to provide the following corporate update.

Today, Hut 8 and Bitfury BV announce their mutual agreement to terminate the historical Investor Rights Agreement ("IRA") between the two companies. The years of collaboration have enabled a strong partnership for both companies and have led to the advancement of bitcoin mining in Canada. The termination of the IRA will most notably bring to a close Bitfury's right to a nominee on Hut 8's Board effective immediately. Notwithstanding the foregoing, to enable time for the Hut 8 Board to transition, Hut 8 has agreed to allow for the delayed resignation of Bitfury's former nominee Jeremy Sewell, until December 31, 2021.