Hut 8 Affirms Commitment to Responsible Data Center Development Following Directive from Texas Governor Greg Abbott

The principles set forth in the directive are consistent with Hut 8's development model, which is grounded in responsible power and resource planning, proactive management of local impacts, and early engagement with regulators and other stakeholders. That model has been shaped by years of developing and operating large-scale infrastructure in Texas across both behind-the-meter and front-of-the-meter projects within ERCOT.

Hut 8 today has approximately 1.5 gigawatts of utility capacity across operational and development sites in Texas, including large-scale behind-the-meter projects at King Mountain and Vega. Beacon Point, the Company's AI data center campus under development in Nueces County, Texas, reflects the Company's focus on responsible execution:

• Supporting a Reliable Grid: Hut 8 believes data center development must support the reliability of the local grid. Hut 8's design for Beacon Point incorporates battery systems designed to mitigate voltage impacts and support reliable integration with the Texas grid.
• Protecting Local Water: Hut 8 designs its campuses so cooling does not compete with the water needs of local families, farms, and businesses. Beacon Point will use a closed-loop cooling system filled with water sourced from outside Nueces County, not from the local water supply.
• Respecting Neighboring Communities: Hut 8 integrates community considerations into project planning from the outset with the aim of minimizing impacts on the surrounding community. At Beacon Point, the Company is proactively managing potential impacts through campus design, construction planning, and coordination with local authorities.
• Engaging Stakeholders Early and Extensively: Hut 8 engages regulators and communities early in the development process and incorporates their input into project planning and design. At Beacon Point, the Company has engaged with neighboring residents, local officials, educational institutions, and economic development organizations. Hut 8 participated in the PUCT's voluntary data center survey prior to the issuance of the Governor's directive and will continue to cooperate fully with the PUCT and ERCOT as their review proceeds.

Asher Genoot, CEO of Hut 8, said: "We applaud Governor Abbott for setting a clear standard that data center development must strengthen Texas communities. Responsible growth requires developers to think beyond the data center to the grid that powers their projects, the local resources around them, and the communities that host them. That perspective has shaped how Hut 8 has built and operated in Texas since 2022, and we believe it will only grow in importance as the next generation of digital infrastructure is built across the state."

Community Partnership Across the Coastal Bend

Hut 8's commitment to responsible development has shaped its engagement across the Coastal Bend throughout the development of Beacon Point, from neighboring residents to local government, schools, and the regional economic development organization. The Company has partnered with community stakeholders from the outset, with a focus on early dialogue, local priorities, and lasting benefits for the region.

Aaron Bowman, CEO of Corpus Christi Regional Economic Development Corporation, said: "We work with every major company that considers the Coastal Bend, and the difference with Hut 8 is how they have engaged with this community. Before construction began, they were knocking on the doors of the people who live closest to Beacon Point, listening to concerns and answering questions face to face. They have also backed that engagement with visible support for the community, including support for longstanding community traditions like Buc Days. They have been, and continue to be, a good neighbor. We are glad they chose this region, and we look forward to building with them."

Scot Hafley, Superintendent of Calallen Independent School District, said: "Calallen ISD has been focused on understanding what the Beacon Point project will mean for our students, families, taxpayers, and broader community. This represents a significant investment in our community and the potential to create meaningful opportunities for our students and families for years to come. Hut 8 has been willing to answer our questions directly and discuss issues that matter locally, including infrastructure, water, safety, and workforce opportunities. We appreciate their willingness to continue that dialogue openly with our Board and community as we learn more about the project and its potential impact. Calallen ISD will continue to ask questions, work with our local and state partners, and advocate for the interests of our students, families, and taxpayers. For generations, Texas has demonstrated that economic growth and responsible infrastructure development can go hand in hand. From energy production to manufacturing and technology, our state has grown by embracing opportunity while investing in the infrastructure necessary to support it. The growth of data centers and artificial intelligence infrastructure presents another significant opportunity for Texas. We recognize that this growth must occur responsibly, and that protecting the reliability of the Texas power grid must remain a priority."

Mark Escamilla, President and CEO of Del Mar College, said: "Del Mar College is proud to support projects like Beacon Point that bring new energy and opportunity to Corpus Christi. Investments of this scale don't just diversify our regional economy — they create real, lasting pathways for our students in high-demand fields like electrical systems, HVAC, industrial maintenance, and data infrastructure. Hut 8 has been a genuine partner in this process, engaging directly with our faculty and workforce programs to make sure the training we provide lines up with the jobs this campus will create. That kind of collaboration is exactly what strengthens our local workforce and keeps opportunity here at home."

J.C. Hooper, Sheriff of Nueces County, said: "Hut 8 has made it clear that they want to be a good neighbor and an active partner here in Nueces County. We appreciate their willingness to invest in our community and support the organizations and people who call Nueces County home."

About Hut 8

Hut 8 is an energy infrastructure platform integrating power, digital infrastructure, and compute at scale to fuel next-generation, energy-intensive technologies such as AI, high-performance computing, and ASIC compute. The Company develops, commercializes, and operates industrial-scale energy and data center infrastructure through a power-first, innovation-driven approach. For more information, visit hut8.com.

Cautionary Note Regarding Forward-Looking Information

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 Hut 8 expects or anticipates will or may occur in the future, including statements relating to the development and operation of Beacon Point, including its anticipated impacts and benefits, and related regulatory reviews, the Company's development pipeline, and the Company's future business strategy, competitive strengths, expansion, and growth of the business and operations more generally, 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," "is designed to," "likely," or similar expressions. 

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, risks relating to the construction of new data centers, including cost overruns, delays, supply chain issues, permitting or regulatory hurdles, unexpected technical challenges, and dependency on contractors; risks relating to the financing of new data centers, including the potential dilutive impact of equity issuances (if any), access to capital markets, timing and cost of financing, and market conditions such as increases in interest rates, declining equity valuations, volatility in credit markets, or tightening lending standards; risks impacting our ability to expand the power capacity at the River Bend campus, such as limitations of transmission and/or generation resources; failure of critical systems; geopolitical, social, economic, and other events and circumstances; competition from current and future competitors; risks related to power requirements; cybersecurity threats and breaches; hazards and operational risks; changes in leasing arrangements; Internet-related disruptions; dependence on key personnel; having a limited operating history; attracting and retaining customers; entering into new offerings or lines of business; price fluctuations and rapidly changing technologies; predicting facility requirements; strategic alliances or joint ventures; operating and expanding internationally; failing to grow hashrate; purchasing miners; relying on third-party mining pool service providers; uncertainty in the development and acceptance of the Bitcoin network; Bitcoin halving events; competition from other methods of investing in Bitcoin; concentration of Bitcoin holdings; hedging transactions; potential liquidity constraints; legal, regulatory, governmental, and technological uncertainties; physical risks related to climate change; involvement in legal proceedings; trading volatility; and other risks described from time to time in Company's filings with the U.S. Securities and Exchange Commission. In particular, see the Company's recent and upcoming annual and quarterly reports and other continuous disclosure documents, which are available under the Company's EDGAR profile at sec.gov and SEDAR+ profile at sedarplus.ca.

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SOURCE Hut 8 Corp