Hut 8 Mining Corp a Canadian crypto mining company has completed the set up of its mining farm at Drumheller after purchasing 9 data centers from Bitfury for $7 million.
Andrew Kiguel, Chief Executive Officer of Hut 8 believed the purchase would allow the Drumhekker facility to be fully functional and provide the full ownership of the firm to Hut 8. He said,
“This upgrade allows Hut 8 to take 100% ownership of the Drumheller facility, which will bring further cost savings. This upgrade was funded from Hut 8’s balance sheet, which remains strong after this transaction and prior debt repayments.”
The latest acquisition has increased the overall capacity of Hut 8 by 16 percent, where its operating capacity has risen to approximately 110 MW and 963 PH/s.
The Canadian mining facility has been operational since December 2017 when it was launched in partnership with the Bitfury group. As per its last quarter report submitted in September, the film has mined a total of 12,305 BItcoins. The firm was also the first blockchain company to get listed on the Toronto Stock Exchange.