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

    3,262FansLike
    2,712FollowersFollow
    4,095FollowersFollow

    Live Bitcoin Price & Latest BTC Chart News

    Today's Latest Crypto News

    Uzbekistan Gov't And Cardano’s Emurgo Partner On Blockchain Task Force For STO Regulations

    Emurgo, Cardano’s blockchain commercial wing, has inked a partnership deal with the Uzbekistan government to help with setting up a task force which will...

    Binance Adds 2nd Fiat To P2P Trading Platform, Vietnamese Dong VND-To-Crypto Now Open

    Binance crypto exchange announced the second fiat currency on their peer-to-peer (P2P) platform on Monday, January 20, 2020. The Vietnamese Dong (VND) was...

    Fed’s “Not” QE Pushing Dow and S&P 500 to ATH makes Investors Nervous, Driving them into Bitcoin

    Buy Bitcoin today while the US Stocks markets stay closed in observance of Martin Luther King Jr. Day Federal Reserve Chairman Jerome Powell might...

    Crypto Payment Processor BitPay Adds XRP Support On Apple iOS And Android

    BitPay, a crypto payment service which provides users a wallet as well as gift cards which can be bought using different coins, is now...

    $7 Trillion AUM Giant Fidelity Posts Job Opening For Bitcoin Mining Engineer

    Fidelity is looking to expand operations and as a result, is hiring a Bitcoin (BTC) mining engineer to help with the design, maintenance, and...

    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.