Hut 8 Set to Join to Russell 3000® Index
Hut 8, a major Bitcoin mining company, is set to join the Russell 3000® Index on July 1, 2024, following the annual reconstitution of the Russell U.S. Indexes. This inclusion highlights Hut 8's growing market capitalization and will enhance its liquidity and visibility. Membership in the Russell 3000® Index also means automatic inclusion in either the large-cap Russell 1000® Index or the small-cap Russell 2000® Index, along with relevant growth and value style indexes. CEO Asher Genoot emphasized that this milestone aligns with the company's goal of maximizing shareholder value. The Russell indexes are widely used by investment managers, with approximately $10.5 trillion benchmarked against them.
- Hut 8's inclusion in the Russell 3000® Index will enhance liquidity and visibility.
- The inclusion reflects Hut 8’s growing market capitalization.
- Automatic inclusion in either the Russell 1000® Index or Russell 2000® Index and style indexes.
- Aligns with Hut 8's goal of maximizing shareholder value.
- None.
MIAMI, June 27, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, is set to join the broad-market Russell 3000® Index at the conclusion of the 2024 Russell U.S. Indexes annual reconstitution, effective at the open of U.S. equity markets on Monday, July 1st, 2024, according to a preliminary list of additions posted June 21st, 2024.
The annual Russell U.S. Indexes reconstitution captures the 4,000 largest U.S. stocks as of Tuesday, April 30th, 2024, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000® Index, which remains in place for one year, means automatic inclusion in the large-cap Russell 1000® Index or small-cap Russell 2000® Index, as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings, and style attributes.
“Our inclusion in the Russell Indexes is another important milestone for Hut 8, as it will help enhance the Company’s liquidity and visibility,” said Asher Genoot, Chief Executive Officer of Hut 8. “We believe the impact of the inclusion, together with our recently announced and ongoing growth initiatives, will continue to drive us toward our north star of maximizing shareholder value.”
Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. According to the data as of the end of December 2023, about
For more information on the Russell 3000® Index and the Russell indexes reconstitution, go to the ‘Russell Reconstitution’ section on the FTSE Russell website.
About Hut 8
Hut 8 Corp. is an energy infrastructure operator and Bitcoin miner with self-mining, hosting, managed services, and traditional data center operations across North America. Headquartered in Miami, Florida, Hut 8 Corp. has a portfolio comprising nineteen sites: ten Bitcoin mining, hosting, and Managed Services sites in Alberta, New York, and Texas, five high performance computing data centers in British Columbia and Ontario, and four power generation assets in Ontario. For more information, visit www.hut8.com and follow us on X (formerly known as Twitter) at @Hut8Corp.
About FTSE Russell
FTSE Russell is a leading global provider of benchmarking, analytics, and data solutions for investors, giving them a precise view of the market relevant to their investment process. A comprehensive range of reliable and accurate indexes provides investors worldwide with the tools they require to measure and benchmark markets across asset classes, styles, or strategies.
FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products, and index-based derivatives.
FTSE Russell is focused on applying the highest industry standards in index design and governance, employing transparent rules-based methodology informed by independent committees of leading market participants. FTSE Russell fully embraces the IOSCO Principles, and its Statement of Compliance has received independent assurance. Index innovation is driven by client needs and customer partnerships, allowing FTSE Russell to continually enhance the breadth, depth and reach of its offering.
FTSE Russell is wholly owned by London Stock Exchange Group.
For more information, visit https://www.lseg.com/en/ftse-russell.
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 such things as future business strategy, competitive strengths, goals, expansion and growth of the business, operations, plans 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”, “predict”, “is designed to”, “likely” or similar expressions. Specifically, such forward-looking information included in this press release includes statements relating to the Company’s enhanced liquidity and visibility, growth initiatives and focus on maximizing shareholder value.
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, security and cybersecurity threats and hacks; malicious actors or botnet obtaining control of processing power on the Bitcoin network; further development and acceptance of the Bitcoin network; changes to Bitcoin mining difficulty; loss or destruction of private keys; increases in fees for recording transactions in the Blockchain; erroneous transactions; reliance on a limited number of key employees; reliance on third party mining pool service providers; regulatory changes; classification and tax changes; momentum pricing risk; fraud and failure related to digital asset exchanges; difficulty in obtaining banking services and financing; difficulty in obtaining insurance, permits and licenses; internet and power disruptions; geopolitical events; uncertainty in the development of cryptographic and algorithmic protocols; uncertainty about the acceptance or widespread use of digital assets; failure to anticipate technology innovations; the COVID19 pandemic, climate change; currency risk; lending risk and recovery of potential losses; litigation risk; business integration risk; changes in market demand; changes in network and infrastructure; system interruption; changes in leasing arrangements; failure to achieve intended benefits of power purchase agreements; potential for interrupted delivery, or suspension of the delivery, of energy to mining sites and other risks related to the digital asset mining and data center business. For a complete list of the factors that could affect Hut 8, please see the “Risk Factors” section of Hut 8’s Transition Report on Form 10-K, available under the Company’s EDGAR profile at www.sec.gov, and Hut 8’s other continuous disclosure documents which are available under the Company’s SEDAR+ profile at www.sedarplus.ca and EDGAR profile at www.sec.gov.
Hut 8 Corp. Investor Relations
Sue Ennis
Hut 8 Corp. Media Relations
Eóin Fay
FAQ
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