Canadian Crypto Miner Hut 8 Mining to Buy New MicroBT 12K Platforms

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Canadian cryptocurrency miner Hut 8 Mining announced yesterday that it will purchase 12,000 new MicroBT mining machines for US $ 58.7 million from Inchigle Technology Hong Kong Ltd., as the mining company continues to expand its presence in North America.

Fast Facts Hut 8 Mining said the new machines will represent an overall incremental production of 1.17 exahash per second, and these new miners are expected to be delivered starting next January at a delivery rate of around 1,000 machines per month. increase the total contracted capacity of Hut 8 to about 3.57 EH / s, in addition to 1,600 gigahash of NVIDIA GPU miners, according to the release. The company plans to deploy the new miners at its two existing sites in Alberta, Canada. “While the timing for Bitcoin to hit an all-time high is a coincidence, this investment serves to reinforce our commitment to efficiently mine and hold Bitcoin,” Jaime Leverton, CEO of Hut 8. industry in North America appear to be expanding their operations, the outlook for those in China appears to remain bleak. China’s National Development and Reform Commission (NDRC), the country’s leading economic planner, yesterday officially began soliciting public comment on the classification of “virtual currency mining” as an “industry to gradual elimination ”. The NDRC’s decision is in line with its previous announcement. to consult the public on a draft negative market access list, which included labeling the crypto mining industry as “obsolete.” This means that the crypto mining industry could be subject to even more severe restrictions. As a result of the tightened ban in China, many crypto miners are moving to coasts more favorable to regulation, and the United States appears to be benefiting from the exodus. The United States has surpassed China’s leading position in cryptocurrency mining, according to the latest Cambridge Bitcoin Electricity Consumption Index data compiled by the Cambridge Center for Alternative Finance. At the end of August, the United States accounted for 35.4% of the global hashrate share – which refers to the level of computing power required to mine – which is a significant increase from 16.8% at the end of April.

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