4.7
EH/s
31.7
J/TH
9,110
83
17.7
80%
1,322
Description
Hut 8 Corp. is an energy infrastructure operator and diversified digital asset miner headquartered in Miami, Florida with data center locations across the US and Canada. The Company leverages long-dated financing and structured energy grids to support large-scale institutional hosting, managed infrastructure services, and high-performance compute workloads.
1101 Brickell Avenue
Suite 1500
Miami, FL 33131
United States
647 256 1992
Sector(s): Financial Services
Industry: Capital Markets
Full Time Employees: 110
All estimated data and analysis provided by Power Analysis
CEO
Appointed CEO in February 2024, Asher Genoot previously served as President and Director of Hut 8 since November 2023. Before joining Hut 8, he was Co-Founder and President of U.S. Data Mining Group, Inc. dba US Bitcoin Corp, a venture-backed private bitcoin mining company with a 730 MW portfolio across data centers in Texas, Nebraska, and New York as of December 2022. Mr. Genoot is a member of Young Presidents Organization and the 2024 Forbes 30 Under 30 – Energy.
Asher began his career in Shanghai, China, where he founded, scaled, and exited two successful EdTech startups, the Ivy Crest Institute of International Education and Curio Education. In China, Asher developed a passion for building high-performing organizations. In 2019, he returned to the US to apply this passion as Managing Director of Flagship Endeavors, a consumer brands incubator. In 2020, Asher co-founded US Bitcoin Corp, starting as Chief Operating Officer then serving as President and Director.
Asher graduated summa cum laude from the University of Southern California at age 19 with a Bachelor in Business Administration. He is a member of Young Presidents Organization (YPO) and fluent in English, Mandarin, Hebrew, and Shanghainese.
CSO
With more than a decade of experience conceiving and building high-growth businesses in nascent markets, Mike drives Hut 8’s strategic vision and technology roadmap.
Prior to Hut 8, Mike co-founded and served as Chief Executive Officer and Board Chair of US Bitcoin Corp. A trailblazer of digital asset mining, Mike first began mining digital assets in 2014. In 2017, he began designing, building, and selling turnkey mining facilities to emerging institutional customers that are today among the largest public miners in the world.
Mike is an accomplished entrepreneur with deep experience in strategic M&A, transformation, partnerships, structured financing, and international trade.
CFO
With over 20 years of experience leading world-class finance organizations, Shenif brings a breadth of corporate and operational finance experience to Hut 8. He began his finance career at IBM Canada, where he progressed to CFO roles in the largest IBM Canada Business units. He then moved to Cogeco Peer 1 as Vice President, Finance, where he jointly led the sale of the company to a private equity firm. He assumed the role of CFO, where he led the privatization of the company and played a key role in rebranding to Aptum Technologies. Shenif was the recipient of the 2021 Report on Business Best Executive Award for his accomplishments as CFO of Aptum. Shenif is a Chartered Professional Accountant (CPA, CMA) and resides in Richmond Hill, ON with his wife and 2 kids.
CLO
Victor Semah is a seasoned technology executive and legal team leader. Prior to joining Hut 8, Victor served as the Chief Legal Officer of Cyxtera Technologies, a global data center company, which he guided through several transformational transactions. These transactions included the carve-out acquisition of the business from a major telecommunications company, the spin-out of several software and cybersecurity businesses, a going-public transaction, and a company sale.
Concurrently with his role at Cyxtera, Victor was a Partner at Medina Capital, a private equity investment firm, and major shareholder of Cyxtera.
Victor began his career in private practice and was most recently a Shareholder in the corporate and securities practice at Greenberg Traurig in Miami. In that role, he represented public and private companies on securities, mergers and acquisitions (M&A), and financing transactions.
His deep understanding of the digital infrastructure industry, and his experience as a leader of a publicly traded company significantly strengthens the Hut 8 legal team.
Niagara Falls, New York (Alpha)
947 MWKing Mountain, Mccamey, Texas (Echo)
947 MWMedicine Hat, Alberta
947 MWMidland, TX
947 MWKearney, NE (Charlie)
947 MWGranbury, TX (Delta)
947 MWSalt Creek, Culberson County, Texas (Construction)
947 MW
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Nov. 15, 2024 | 02:00PM EST | Power Mining Analysis
- Hut 8, under CEO Asher Janute, has surpassed street estimates, showcasing robust earnings per share and revenue growth.
- This achievement highlights the company’s strong position in Bitcoin mining and AI innovation.
- Upgraded self-mining fleet to boost margins and operational efficiency.
- Reduced power costs strengthen Hut 8’s market position amidst industry volatility.
- Announced a 430 MW AI initiative under exclusivity, enhancing credibility and positioning in high-performance computing.
- HighriseAI, an internal venture, integrates advanced Bitcoin mining within broader data center projects.
- Vega site leverages liquid-to-chip cooling technology for efficiency and is a key element in Hut 8's AI and infrastructure strategy.
- A cautious communication strategy around AI developments reflects the complexity of deal finalization.
- Promising projects and analyst events hint at impactful future announcements.
- Emphasis on transparency and active feedback fosters strong community and shareholder support.
Hut 8's strategic initiatives in mining, AI, and cutting-edge technology highlight its leadership in innovation and pave the way for sustained growth in the evolving digital landscape.