Hut 8 Mining Corp (NASDAQ: HUT) (TSX: HUT) published its second annual ESG report showing the company’s objectives to maximize its environmental performance.
The company said on Wednesday the new report also covers Hut’s electrical output at its high performance computing business data centres for the first time since their acquisition last year.
The company remains dedicated to achieving carbon neutrality by 2025 and in so doing has taken significant steps towards this goal by purchasing carbon offsets for 40 per cent of their scope 1 and 2 emissions for the year 2022, an increase from 20 per cent in the previous year.
The company has also furthered this goal by keeping its high-performance computing data centres in Ontario and British Columbia carbon free. Other improvements include their waste management in 2022, which managing to divert over 94 per cent of waste from landfills, a substantial increase from 61 per cent in 2021.
Additionally, Hut 8 partnered with ERS International to recycle 220 metric tonnes of outdated machinery. This project earned them 5,200 metric tonnes of serialized carbon credits, equivalent to that amount of carbon dioxide. The flagship data centre in Kelowna underwent renovations using 100 per cent LED lighting and recycled materials. This included recycling 1,800 pounds of carpet tiles.
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Hut 8 Mining achieved zero total workplace safety incidents in 2022
Hut 8 Mining reported that it achieved zero total recordable workplace safety incidents in 2022. Hut 8 also made progress in diversity and inclusion with 43 per cent of executive management roles held by women and 29 per cent by BIPOC individuals. The company showed its commitment to the local community through endorsements and donations to organizations such as Hackergal, Medicine Hat College and the Drumheller Dragons Hockey Team.
“At Hut 8, we understand that our environmental, social and governance commitments are fundamental to who we are as a company,” said Hut 8 CEO Jaime Leverton.
“We take pride in taking a proactive approach to protect the planet, support our communities and people and advance inclusive and transparent workplace practices.”
The report also covered the company’s first diversity and inclusion survey, which provided insights about BIPOC, age and gender diversity across the team. In addition, the company reached a milestone in boardroom diversity, with women holding 40 per cent of board of director seats and the same percentage held by BIPOC individuals.
One of the main goals of Hut 8 is to care for the health, safety and happiness of its workers. The company also wants to work closely and with greater transparency with local communities. In the past year, Hut 8 has grown its operations but has not forgotten about these important goals.
In January 2022, Hut 8 bought five traditional data centres, which has given it access to more types of energy sources, including hydroelectric power. Hut 8 also kept working with the Bitcoin Mining Council, a group it helped start. Its work with the council is to help educate others, share important data and push for environmentally friendly practices in the industry.
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