Exhibit 4.8


 


FORM 51-102F3


 


MATERIAL CHANGE REPORT


 


Item 1 Name and Address of Company


 


Hut 8 Mining Corp. (the “Company”)


 


130 King St. W, Suite 1800


 


Toronto, ON


 


M5X 1E3


 


Item 2 Date of Material Change


 


The material change occurred on March 24, 2020.


 


Item 3 News Release


 


A
press release in connection with the material change was issued on March 31, 2020 through Canadian newswires and filed on www.sedar.com under the Issuer’s profile and is attached hereto as Schedule “A”.


 


Item 4 Summary of Material Change


 


The Company announced transfer of its hashpower from the Bitfury
Pool to Slushpool.


 


Item 5 Full Description of Material Change


 


		5.1	Full Description of Material Change



 


The Company finalized the transfer of its computing power to
Slushpool, committing a minimum of 600 PH/s during the entire period from March 24, 2020 to March 24, 2021.


 


		5.2	Disclosure for Restructuring Transactions



 


Not applicable






     


     

    

Item 6 Reliance on subsection 7.1(2) of National Instrument
51-102


 


Not applicable


 


Item 7 Omitted Information


 


Not applicable


 


Item 8 Executive Officer


 


For further information with respect to this report, please
contact Jimmy Vaiopoulos, CFO of the Company, at (647) 256 1992.


 


Item 9 Date of Report


 


March 31, 2020.


 


Additional Disclosure under s.5.2 of MI – 61-101


 


The purpose of this transaction
was to allow the Company to switch its mining hashpower to a larger pool, which will allow for more consistent rewards and payouts.
Slushpool was one of the first mining pools, having started in 2010, and has mined over 1 million bitcoin to date.






     


     

    

Schedule “A”


 


Hut 8 Announces Release Date for Audited Fiscal
Year 2019 Financial Results


 


TORONTO, ON, March 31, 2020 – Hut
8 Mining Corp. (“Hut 8” or “the Company”) (TSX: HUT) (OTCQX: HUTMF), one of the world’s largest publicly
listed bitcoin mining companies by operating capacity and market capitalization, today announced that it will release its fiscal
year 2019 financial results pre-market open on Friday, April 3, 2020.


 


A conference call has been scheduled to discuss the
Company’s year-end financial results, hosted by CEO Andrew Kiguel and CFO Jimmy Vaiopoulos, starting at 10:00 a.m. ET Monday
April 6, 2020.


 


Date: Monday, April 6, 2020


Time: 10:00 a.m. ET





Dial-In: 1 (888) 465-5079, Canada 1 (888) 424-8151,
US


Passcode: 7760 654#


 


In addition, Hut 8 has transferred all
its hash power from the Bitfury Pool to Slushpool. The Company made this change to a larger pool to allow for more consistent payouts.
Slushpool was one of the first mining pools having started in 2010 and has mined over 1 million bitcoin over its history.


 


ABOUT HUT 8 MINING CORP.


 


Hut 8 is a bitcoin mining company with
industrial scale operations in Canada. In total, Hut 8 owns and operates two sites in Alberta, Canada utilizing 94 BlockBox AC
data centers with current operating capacity of 107 MW and 952 PH/s.


 


Hut 8 creates value for investors through
low production costs and appreciation of its bitcoin inventory. The company 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 bitcoin.


 


The Company’s common shares are listed
under the symbol “HUT” on the TSX and as “HUTMF” on the OTCQX Exchange.


 


Key investment highlights and FAQ’s: https://www.hut8mining.com/investors.


 


Keep up-to-date on Hut 8 events and developments
and join our online communities at Facebook, Twitter, Instagram and LinkedIn.


 


Hut 8 Corporate Contact:


 


Andrew Kiguel 


Chief Executive Officer 


Tel: (647) 256-1992 


Email: info@hut8mining.com





 


Jimmy Vaiopoulos 


Chief Financial Officer 


Tel: (647) 256-1992 


Email:
info@hut8mining.com




     


     

    

FORWARD-LOOKING STATEMENTS


 


Certain information in this press release
constitutes forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified
by the use of forward-looking terminology, such as “plans”, “targets”, “expects” or “does
not expect”, “is expected”, “estimates”, “intends”, “assumes”, “anticipates”
or “does not anticipate” or “believes”, or variations of such words and phrases, or state that certain
actions, events or results “may”, “could”, “would”, “might”, “will”
or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations,
projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing
forward-looking information are not historical facts, but instead represent management’s expectations, estimates and projections
regarding future events.


 


Forward-looking information is necessarily
based on a number of opinions, assumptions and estimates that, while considered reasonable by Hut 8 as of the date of this press
release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results,
level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking
information, including but not limited to the factors described in greater detail in the “Risk Factors” section of
the Filing Statement dated March 1, 2018 relating to the Qualifying Transaction of Oriana Resources Corporation and Hut 8, which
is available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect Hut
8; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove
to be correct. The forward-looking statements contained in this press release are made as of the date of this press release, and
Hut 8 expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors
or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.


 


Neither the TSX nor its Regulation Services
Provider (as that term is defined in the policies of the TSX) accepts responsibility for the adequacy or accuracy of this release.