Back Mar 02, 2022 - Press release

Enthusiast Gaming and Hut 8 Sign Multi-Year Strategic Partnership

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

Enthusiast Gaming poised to take advantage of Hut 8’s data centre infrastructure

LOS ANGELES/TORONTO, March 2, 2022 — Enthusiast 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 North America’s largest innovation-focused digital
asset mining pioneers, supporting open and decentralized systems since 2018. The partnership marks the first time
Hut 8 has come together 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 within mobile and blockchain gaming, Web 3.0, NFTs, and cryptocurrency.
Gaming, specifically blockchain gaming, is forecast to grow at a compound annual growth rate of 14.5% through 2026,
now that gamers are capable of and interested in owning their own digital assets.

To kick off the partnership, Enthusiast Gaming will release a significant update to its first-person shooter game EV.IO,
featuring Hut 8 as a presenting sponsor. Hut 8 will also become a sponsor of Luminosity Gaming, the top esports
organization on Twitch with a social following of more than 145 million globally.

The ongoing partnership will see Hut 8 content integrated across Enthusiast Gaming’s flywheel of communities, games,
and experiences. Hut 8 is also positioned to provide critical infrastructure support by hosting Enthusiast Gaming in its
data centres, which are connected to electrical grids powered by significant renewables and emissions-free resources.

“As we consider new opportunities in Web 3.0, the Metaverse, NFTs and cryptocurrency, we’re proud to join a
partnership that will really deliver for our creators, communities and fans, and to kick things off with Hut 8 by bringing
our flywheel of opportunities to them, through our latest launch from Addicting Games, and as a partner on Luminosity
Gaming,” said Adrian Montgomery, CEO of Enthusiast Gaming. “With one of the highest inventories of self-mined
Bitcoin of any publicly-traded company globally, Hut 8 has established itself as an innovative leader by bridging digital
asset mining with the traditional data centre industry, and is now serving both traditional high-performance applications
and applications in the gaming and blockchain space.”

“As a digital currency miner with data centre infrastructure, we’re ideally positioned to join forces with one of North
America’s largest and fastest growing gaming entertainment companies and generate the unique benefits of this
strategic partnership,” said Jaime Leverton, CEO of Hut 8. “We’re excited to host Enthusiast Gaming in our data
centres 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 crypto-savvy.”

Samples of Hut 8/EV.IO visuals can be found here.

About Enthusiast Gaming

Enthusiast Gaming is an integrated gaming entertainment company, building the largest media platform for video game
and esports fans to connect and engage worldwide. Combining the elements of its four core pillars; Media, Talent,
Esports and Experiences, Enthusiast Gaming provides a unique opportunity and integrated approach to reach and
connect with its coveted GenZ and Millennial audience. Through its proprietary mix 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’s largest innovation-focused digital asset miners, led by a team of business-building
technologists, bullish on bitcoin, blockchain, Web 3.0 and bridging the nascent and traditional high performance
computing worlds. With two digital asset mining sites located in Southern Alberta and a third site in North Bay, Ontario,
all 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 publicly-traded company globally. With 36,000 square feet of geo-diverse data
centre space and cloud capacity connected to electrical grids powered by significant renewables and emission-free
resources, Hut 8 is revolutionizing conventional assets to create the first hybrid data centre model that serves both the
traditional high performance compute (Web 2.0) and nascent digital asset computing sectors, blockchain gaming, and
Web 3.0. Hut 8 was the first Canadian digital asset miner to list on the Nasdaq Global Select composite index and the
first blockchain company to be added to the S&P/TSX Composite Index in 2021. Hut 8’s team of business building
technologists are believers in decentralized systems, stewards of powerful industry-leading 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 is helping to define the digital asset revolution to create value and positive impacts for
its shareholders and generations to come.

Contacts
Enthusiast Gaming Investor Relations:
Eric Bernofsky, Chief Corporate Officer
investor@enthusiastgaming.com

Enthusiast Gaming Media Relations:
Derek Holota, Provident Communications
derek@providentcomms.com
343-422-5606

Hut 8 Investor Relations
Sue Ennis
sue@hut8mining.com

Hut 8 Media Relations:
Dea Masotti Payne, North Strategic
dea.masottipayne@northstrategic.com

This news release contains certain statements that may constitute forward-looking information under applicable
securities laws. All statements, other than those of historical fact, which address activities, events, outcomes, results,
developments, performance or achievements that Enthusiast Gaming anticipates or expects may or will occur in the
future (in whole or in part) should be considered forward-looking information. Often, but not always, forward-looking
information can be identified by the use of words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”,
“estimates”, “forecasts”, “intends”, “anticipates”, or “believes” or variations (including negative variations) of such words
and phrases, or statements formed in the future tense or indicating that certain actions, events or results “may”, “could”,
“would”, “might” or “will” (or other variations of the forgoing) be taken, occur, be achieved, or come to pass. Forwardlooking statements in this news release include, but are not limited to, expectations, expertise, projections, estimates
or characterizations of future events or circumstances by the management of Enthusiast Gaming and Hut 8, the planned
partnership activities including brand activations, the ability generate the unique benefits of this partnership, the ability
to collaborate on new experiences and content within mobile and blockchain gaming, Web 3.0, NFTs, and
cryptocurrency, enhancements to and the functionality of game titles published by Enthusiast Gaming, and the provision
of Hut 8’s data centre 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 in digital asset mining and traditional data centre
industry, and Hut 8’s ability to continue to serve both traditional high-performance applications as well as applications
in the gaming and blockchain space.

Forward-looking statements are based on assumptions and analyses made by the Company in light of its experience
and its perception of historical trends, current conditions and expected future developments, including, but not limited
to, expectations and assumptions concerning: interest and foreign exchange rates; capital efficiencies, cost saving and
synergies; growth and growth rates; the success in the esports and gaming media industry; the Company’s growth
plan, and judgment applied in the application of the Company’s accounting policies and in the preparation of financial
statements in accordance with applicable financial reporting standards. While 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 more information on the risks, uncertainties and assumptions that could
cause anticipated opportunities and actual results to differ materially, please refer to the public filings of Enthusiast
Gaming 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 placed will occur. Such information, although considered reasonable by management at the time of preparation,
may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements
contained in this news release are expressly qualified by this cautionary statement and reflect our expectations as of
the date hereof, and thus are 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.

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