Enthusiast Gaming and Hut 8 Sign Multi-Year Strategic Partnership

Hut 8 becomes a premium sponsor of EV.IO, a multiplayer game from Addicting Games, and Luminosity Gaming, the top esports organization on Twitch

Enthusiast Gaming Ready to Leverage Hut 8’s Data Center Infrastructure

LOS ANGELES and TORONTO, March 2, 2022 /PRNewswire/ – Cheerful Gaming Holdings Inc. (NASDAQ: EGLX) (TSX: EGLX), (“Enthusiast Gaming”), an integrated gaming entertainment company, today announced a multi-year partnership with Hut 8 Mining Corp. (NASDAQ: HUT) (TSX: HUT) (“Hut 8”), one of the North America leading pioneers in innovation-driven digital asset mining, supporting open and decentralized systems since 2018. The partnership marks the first time that Hut 8 has partnered with a gaming and esports organization, and Enthusiast Gaming’s first partnership with a digital asset miner.

As ambitious leaders at the intersection of gaming and digital asset mining, Enthusiast Gaming and Hut 8 will collaborate on new experiences and content in mobile and blockchain gaming, Web 3.0, NFT and cryptocurrency.

Gaming, especially blockchain gaming, is expected to grow at a pace compound annual growth rate of 14.5% through 2026now that gamers are able and interested in owning their own digital assets.

To kick off the partnership, Enthusiast Gaming will release a major update to its EV.IO first-person shooter, with Hut 8 as presenting sponsor. Hut 8 will also become a sponsor of Luminosity Gaming, the leading esports organization on Twitch with a social network of over 145 million people worldwide.

The ongoing partnership will see Hut 8 content integrated into the steering wheel of Enthusiast Gaming’s communities, games and experiences. Hut 8 is also positioned to provide critical infrastructure support by hosting Enthusiast Gaming in its data centers, which are connected to power grids powered by significant renewable and emission-free resources.

“As we envision new opportunities in Web 3.0, Metaverse, NFTs and Cryptocurrency, we are proud to join a partnership that will truly empower our creators, communities and fans, and kick things off with Hut 8 by bringing our flywheel of opportunity to them, through our latest Addicting Games launch, and as a partner on Luminosity Gaming,” noted Adrian MontgomeryCEO of Enthusiast Gaming. “With one of the highest self-mined Bitcoin inventories of any publicly traded company globally, Hut 8 has established itself as an innovative leader in bridging digital asset mining with the traditional industry. data centers, and now serves both traditional high-performance applications and applications in the gaming and blockchain space.”

“As a digital currency miner with data center infrastructure, we are uniquely positioned to join forces with one of North America the largest and fastest growing video game companies and are driving the unique benefits of this strategic partnership,” noted Jaime LevertonCEO of hut 8. “We are excited to house Enthusiast Gaming in our data centers and collaborate on new experiences and content that will connect us to their audience of 300 million Gen Z and Millennial viewers, the majority of whom are internet savvy. matters of cryptography.”

Sample Hut 8/EV.IO visuals can be found here.

About Gaming Enthusiasts

Enthusiast Gaming is an integrated gaming entertainment company, building the largest media platform for gaming and esports fans to connect and engage around the world. Combine the elements of its four fundamental pillars; Media, talent, esports and experiences, Enthusiast Gaming offers a unique opportunity and an integrated approach to reach and connect with its coveted GenZ and Millennial audience. Through its proprietary blend of digital media and entertainment assets, Enthusiast Gaming has built a vast network of like-minded communities to deliver the ultimate fan experience.

About Hut 8

Hut 8 is one of North America leading innovation-driven digital asset miners, led by a team of start-up technologists, bullish on bitcoin, blockchain, web 3.0 and bridging nascent and traditional high-performance computing worlds . With two digital asset mining sites located in Southern Alberta and a third site in North Bay, Ontarioall located in Canada, Hut 8 has one of the highest capacity rates in the industry and one of the highest inventories of self-mined Bitcoin of any crypto miner or listed company in the world. With 36,000 square feet of geo-diverse data center space and cloud capacity connected to power grids powered by significant renewable and emission-free resources, Hut 8 is revolutionizing conventional assets to create the first model of data center hybrid that serves both traditional high-performance computing (Web 2.0) and the nascent sectors of digital asset computing, blockchain gaming and Web 3.0. Hut 8 was the first Canadian digital asset miner to feature on the Nasdaq Global Select Composite Index and the first blockchain company to be added to the S&P/TSX Composite Index in 2021. The team of construction technologists d Hut 8’s business believes in decentralized systems, stewards of powerful edge solutions and drivers of innovation in digital asset mining and high performance computing, with a focus on ESG alignment. Through innovation, imagination and passion, Hut 8 helps define the digital asset revolution to create value and positive impacts for its shareholders and generations to come.

This press release contains certain statements that may constitute forward-looking information under applicable securities laws. All statements, other than statements of historical fact, which address activities, events, results, developments, performance or achievements that Enthusiast Gaming anticipates or expects to occur or will occur in the future (in whole or in part) should be considered forward-looking. information search. Often, but not always, forward-looking information can be identified by the use of words such as “plans”, “expects”, “is planned”, “budget”, “expected”, “estimates”, “forecasts”. “, “intends”, “anticipates” or “believes” or variations (including negative variations) of these words and phrases, or statements formed in the future tense or that certain actions, events or results “may ”, “could”, “might”, “could” or “will” (or other variations of the above) be taken, occur, be reached or occur. Forward-looking statements contained in this press release include, but are not limited to, expectations, expertise, projections, estimates or descriptions of future events or circumstances by the management of Enthusiast Gaming and Hut 8, planned partnership activities, including brand activations, ability to generate the unique benefits of this partnership, ability to collaborate on new experiences and content in mobile and blockchain games, Web 3.0, NFTs and cryptocurrency, enhancements and features of game titles published by Enthusiast Gaming, and the provision of Hut 8’s data center infrastructure, Hut 8’s ability to connect to Enthusiast Gaming’s audience of 300 million Gen Z and Millennial viewers, Hut 8’s ability to continue to innovate and lead the digital asset mining and traditional data center industry. capabilities, and Hut 8’s ability to continue to serve both traditional high-performance applications as well as gaming and blockchain applications

Forward-looking statements are based on assumptions and analyzes made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, including, but not limited to, expectations and assumptions regarding: interest and foreign exchange rates; capital efficiency, cost savings and synergies; growth and growth rate; success in the esports and gaming media industry; the Company’s growth plan and the judgment exercised in applying the Company’s accounting policies and in preparing the financial statements in accordance with applicable financial reporting standards. Although Enthusiast Gaming considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Readers are cautioned not to place undue reliance on forward-looking statements. In addition, forward-looking statements necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; adverse industry events; and future legislative, tax and regulatory developments. Readers are cautioned that the foregoing list is not exhaustive. For additional information about the risks, uncertainties and assumptions that could cause anticipated opportunities to differ materially from actual results, please refer to Enthusiast Gaming’s public filings which are available on SEDAR at www.sedar.com. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are based will occur. Such information, although considered reasonable by management at the time it was prepared, may prove to be incorrect and actual results may differ materially from those anticipated. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement and reflect our expectations as of the date hereof, and are therefore subject to change thereafter. Enthusiast Gaming disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

SOURCE Hut 8 Mining Corp

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