More

    Bitcoin Mining Company Hut 8 Acquires 9 Datacenters From Bitfury For $7 Million

    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.

    Get Free Email Updates!

    *Action* Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

    I will never give away, trade or sell your email address. You can unsubscribe at any time.

    Silvia A
    Silvia A
    Though relatively new to the cryptocurrency and blockchain space, Silvia has a strong interest in the field and a love of writing as well. She brings an interesting take to current happenings in the industry and enjoys introducing the latest developments to cryptocurrency and blockchain enthusiasts alike. She’s excited to promote a vibrant and fresh discussion as the industry continues to develop and move forward.

    [Alert] Use the author's self-conducted information at your own risk, do you own research, never invest more than you are willing to lose.

    [Disclosure] The published news and content on BitcoinExchangeGuide should never be used or taken as financial investment advice. Understand trading cryptocurrencies is a very high-risk activity which can result in significant losses. Editorial Policy \\ Investment Disclaimer

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here

    3,267FansLike
    2,732FollowersFollow
    4,091FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Swiss Private Banking Giant Julius Baer Adds Digital Asset Trading And Crypto Custody Services

    The major Swiss wealth management and private banking group Julius Baer just launched, in partnership with Seba, its new custodial and trading cryptocurrency services. The...

    Iran's Ministry of Industries, Mining, and Trade Grant More Than 1,000 Crypto Miners Licenses

    Iran is regulating crypto miners after a new licensing regime has been introduced by the country’s government. According to an official representative from the Iranian...

    CME Gaps for Bitcoin Price Fill over 95% of the Time: Research

    CME Gaps are popular topics that frequently get talked about in the crypto market, which usually has seen Bitcoin dumping. These Gaps occur because unlike...

    The Upcoming Cut in Bitcoin Supply Means Zero for BTC Price Says, Analyst

    Searches for bitcoin halving on Google Trends on an uptrend “Makes no sense” to discuss if the halving is priced in says economist...

    WEF's New Global Consortium To Focus On Cryptocurrency Governance Framework

    The World Economic Forum (WEF) has announced the creation of a global consortium which will come up with a governance framework for all cryptocurrencies...

    BitcoinExchangeGuide is a hyper-active daily crypto news portal with care in cultivating the cryptocurrency culture with community contributors who help rewrite the bold future of blockchain finance. Subscribe on Google News, see the mission, authors, editorial links policy, investment disclaimer, privacy policy. Got News? Contact us, we are human too. Note: nothing here is financial advice, do your own research thoroughly.