Hut 8 Opens 2nd Mining Facility; Becomes “Largest Publicly-Traded” Operator

Hut 8 Completes Second Mining Facility in Canada, Claims That It Is “Largest Publicly-Traded” Operator By Capacity

Hut 8 is one of the many Bitcoin mining companies in Canada, along with Vogogo and Dominion. However, after completing the construction of their second mining facility in the country a few days ago, they are now claiming to be the ““largest publicly-traded” operator by capacity.

In their press release, Hut 8 discussed the early completion of their Medicine Hat farm. Though the deadline was not until September, the facility in Drumheller is already done, giving them yet another surge of confidence. Hut 8 decided to collaborate with BitFury to help them mine approximately 1,900 Bitcoin in the last seven months, which is likely due to the impressive access that BitFury has to mining hardware.

The joint success of these two companies adds new competition to the Bitcoin mining market. Unfortunately, it does not seem to be enough to push Bitmain out of the top spot. In a statement from Hut 8 CEO and President, Andrew Kiguel, he said,

“With 66.7 MW of aggregate operating capacity, we believe we are the largest cryptocurrency miner in Canada and the largest publicly-traded cryptocurrency miner by operating capacity in the world.”

Right now, Hut 8 has only managed a share price of $2.45, which is almost half of the initial price ($4.70). However, insiders that are familiar with their upcoming plans believe that the platform will still be able to reach their goal of $7.85 as the price tag.

Even though Canada is growing in the number of miners participating, it still seems to be a challenge for crypto miners that want a more expansive range to mine from. The local politicians, specifically in Quebec, seem like they are largely to blame, citing the lack of value that they expect to filter back into the economy as a result of the mining.

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.

Bitcoin Exchange Guide News Team
B.E.G. Editorial Team is a gracious group of giving cryptocurrency advocates and blockchain believers who want to ensure we do our part in spreading digital currency awareness and adoption. We are a team of over forty individuals all working as a collective whole to produce around the clock daily news, reviews and insights regarding all major coin updates, token announcements and new releases. Make sure to read our editorial policies and follow us on Twitter, Join us in Telegram. Stay tuned. #bitcoin

[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


Please enter your comment!
Please enter your name here


Live Bitcoin Price & Latest BTC Charts

Today's Latest Crypto News

VeChain Joins China Animal Health and Food Safety Alliance (CAFA)

VeChain has joined the China Animal Health and Food Safety Alliance (CAFA) as one of its council members and will be providing them technical...

Coinbase Pro to Pass the Rising Network Fees Onto The Customer During Withdrawals

The launch of UNI, the governance token of Uniswap DEX, is having a big impact on the Ethereum network. The good thing is the price...

Homeland Security Calls On Freelancers to Design A Digital Wallet Interface; $25k to Finalists

The Science and Technology Directorate (S&T) division of the US Department of Homeland Security has allocated up to $25,000 in prizes as an...

BoE Explores Negative Rates; Bitcoin Is A ‘Must' Because Fiat is a ‘Giant Ponzi Scheme'

The Bank of England (BoE) is exploring negative interest rates now and in response Sterling weakened sharply. The pound dropped 0.7% against the dollar after...

Nexus Mutual Sees Active Cover Growing 10x, Now Token Price ‘Directly Linked to Adoption'

“DeFi is developing faster than you can say ‘protect me from the risks in DeFi’,” said Kayleigh Petrie, Director of Engagement at Nexus Mutual,...

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.

Start Using Crypto Today