Crypto Mining Co. Hut8 Apppoints Jimmy Vaiopoulos Chief Financial Officerbr>
Hut 8 Mining Corp, a bitcoin mining company, has appointed Jimmy Vaiopoulos, CPA, CA as its chief financial officer and corporate secretary effective July 10. Vaiopoulos will join Hut 8’s operations in Toronto, Ontario.
Hut 8 Mining Corp. has an exclusive arrangement with the Bitfury Group, the blockchain technology company. Through the Bitfury Group, Hut 8 has access to hardware, software and operational expertise to construct, optimize and manage data centers in low-cost and attractive jurisdictions. Hut 8 provides investors with direct exposure to bitcoin, without the technical complexity or constraints of purchasing the underlying cryptocurrency. Investors avoid the need to create online wallets, wire money offshore and safely store their bitcoins. Hut 8 provides a secure and simple way to invest.
“We are excited to welcome Jimmy to our team,” said Andrew Kiguel, President and Chief Executive Officer of Hut 8. “His previous experience as a public company CFO and his financial background will be of great value to Hut 8 as we continue to expand our bitcoin mining data centres throughout North America and solidify our leadership in the industry.”
Vaiopoulos joins Hut 8 following his role as CFO with a TSXV-listed commercial solar solutions provider, where he served since 2015. Prior to that role, he worked with KPMG in both audit and advisory practices with a focus on energy and infrastructure markets. Vaiopoulos has worked closely with independent power producers and specializes in start-up growth, international management, tech and mining, and has extensive experience in the underlying Canadian and U.S. compliance regimes.
“Hut 8 has done an incredible job of scaling quickly and gaining market share in the cryptocurrency mining space,” said Vaiopoulos. “Hut 8 is a true global leader and I look forward to bringing my capital markets and industry experience to the Company to build further value for investors and the communities in which we operate.”
In addition to Vaiopoulos, Hut 8 has appointed Etienne Snyman as the company’s head of power. Snyman has 20 years of experience in the energy industry spanning regulatory, trading and project development which have led to the purchase or construction of $2 billion of electricity and thermal supply infrastructure. Most recently, Etienne led Hut 8’s efforts in engaging with the City of Medicine Hat and successfully negotiating the land lease and electricity supply agreements.
At present, Hut 8 has 33 BlockBoxes representing 37.9 MW of power capacity located in Drumheller and Medicine Hat, Alberta and is in the process of installing another 24 BlockBoxes representing 28.8 MW. When Medicine Hat is fully operational, Hut 8 will have a combined operating power of 448 PH/s and 66.7 MW.