Hut 8 Mining Corp. (NASDAQ:HUT) Q4 2022 Earnings Conference Call March 9, 2023 10:00 AM ET

Company Participants

Jaime Leverton – Chief Executive Officer

Shenif Visram – Chief Financial Officer

Conference Call Participants

Mike Colonnese – H.C. Wainwright

Joseph Vafi – Canaccord

Chris Brendler – D.A. Davidson

George Sutton – Craig Hallum

Bill Papanastasiou – Stifel

Operator

Welcome to Hut 8’s Fourth Quarter and Full Year 2022 Financial Results Analysts and Investor Call. In addition to the press release issued earlier today, you can find Hut 8’s financial statements and MD&A on the Company’s website at www.hut8.io under the Company’s SEDAR profile at www.sedar.com, and under the Company’s EDGAR profile at www.sec.gov.

Unless noted otherwise, all amounts referred to during this call are denominated in Canadian dollars.

Any comments made during this call may include forward-looking statements within the meaning of applicable securities legislation regarding the future performance of Hut 8 Mining Corp. and its subsidiaries. The statements may reflect current expectations and as such, are subject to a variety of risks and uncertainties that could cause actual results to differ materially from current expectations. These risks and uncertainties include, but are not limited to, the factors discussed in the Hut 8’s Annual MD&A and Annual Information Form for the year ended December 31, 2022, except as required by applicable law, Hut 8 undertakes no obligation to publicly update or review any forward-looking statements.

During the call, management may also make reference to certain non-IFRS measures that are not separately defined under IFRS, such as adjusted EBITDA and mine profit. Management believes that non-IFRS financial information taken in conjunction with IFRS financial measures provide useful information for both management and investors. Reconciliations between IFRS and non-IFRS results are presented in the tables accompanying our press release, which can be viewed on our website.

I would now like to turn the call over to Hut 8’s CEO, Jaime Leverton. Please go ahead.

Jaime Leverton

Thank you, Joel. Good morning, everyone, and thank you for joining us to discuss Hut 8’s results for the 2022 fiscal year. I will start by restating the obvious. 2022 was a challenging year for our entire industry. For us, this meant that pivoting and changing was essential. This is where our balance sheet first approach, which has been in place since the early days of the previous bull market, enabled us to continue pursuing opportunistic moments throughout the year.