Enthusiast Gaming Holdings Inc. (NASDAQ: EGLX) and Hut 8 Mining Corp. (NASDAQ: HUT) disclosed that they have inked a strategic partnership agreement. The collaboration is the first time the Hut 8 has come together with a gaming and esports organization, and Enthusiast Gaming’s first collaboration with a digital asset miner.
Enthusiast Gaming will issue a significant update to its first-person shooter game EV.IO, with Hut 8 as a presenting sponsor, to start the collaboration. Hut 8 will also become a sponsor of Luminosity Gaming, Twitch's leading esports organization with a global social following of over 145 million.
Furthermore, Hut 8 content will be integrated into Enthusiast Gaming's flywheel of communities, games, and experiences as part of the ongoing cooperation. By running Enthusiast Gaming in its data centers, which are linked to electricity grids fueled by major renewables and emissions-free resources, Hut 8 is also set to provide vital infrastructure support.
Additionally, Enthusiast Gaming and Hut 8 will work on innovative experiences and content in mobile and blockchain gaming, Web 3.0, NFTs, and cryptocurrency as aspirational leaders at the convergence of gaming and digital asset mining. Now that gamers can and want to own their digital assets, gaming, notably blockchain gaming, is expected to increase at a compound annual growth rate of 14.5 percent through 2026.
Hut 8 believes that as a digital currency miner with data center infrastructure, it was well-positioned to team up with one of North America's largest and fastest-growing gaming entertainment companies and reap the benefits of this strategic alliance. Hut 8 is ecstatic to host Enthusiast Gaming in its data centers and cooperate on new experiences and material that will link it to their 300 million Gen Z and Millennial viewers, the bulk of whom are crypto knowledgeable.