Hut 8 Corp. — Director's Dealing 2023

Dec 5, 2023

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Hut 8 Corp. (HUT)
CIK: 0001964789
Period of Report: 2023-11-30

Reporting Person: ONEAL E STANLEY (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Common stock, par value $0.01 per share	211039	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option(2) (right to buy)	$0.39	2031-07-29	Common stock, par value $0.01 per share (81935)		Direct
Stock Option(4) (right to buy)	$0.39	2033-01-04	Common stock, par value $0.01 per share (163870)		Direct

Footnotes

F1: These shares represent the Reporting Person's pecuniary interest in the shares of Hut 8 Corp. (the "Company") Common Stock, par value $0.01 per share ("Common Stock"), owned by JHS Bitcoin Mining LLC ("JHS"). The Reporting Person does not currently maintain voting or dispositive power over the shares held by JHS. However, the shares included herein represent the Reporting Person's passive investment in JHS and his respective pecuniary interest in such shares.

F2: Represents options to purchase the Company's Common Stock issued to the Reporting Person in replacement of the options (the "2021 USBTC Options") held by the Reporting Person to purchase shares of common stock of U.S. Data Mining Group, Inc., a Nevada corporation ("USBTC") prior to the consummation of the Business Combination by and among the Company, USBTC and Hut 8 Mining Corp., a corporation existing under the laws of British Columbia ("Hut 8") on November 30, 2023. The 2021 USBTC Options were originally issued by USBTC on July 30, 2021.

F3: The shares vest over a four-year period which began on March 18, 2021, with 20,483 shares that vested on March 18, 2022 and the remaining shares vesting pro-rata on a monthly basis over the remaining three-year period.

F4: Represents options to purchase the Company's Common Stock issued to the Reporting Person in replacement of the options (the "2023 USBTC Options") held by the Reporting Person to purchase shares of common stock of USBTC prior to the consummation of the Business Combination on November 30, 2023. The 2023 USBTC Options were originally issued by USBTC on January 5, 2023.

F5: The shares vest over a four-year period which began on January 5, 2023, with 40,967 shares vesting on January 5, 2024 and the remaining shares vesting pro-rata on a monthly basis over the remaining three-year period.