October 1, 2022

Mining company Hut 8 acquired 9 data centers worth $ 7 million

Mining company Hut 8 acquired 9 data centers worth $ 7 million

Canadian mining company Hut 8 Mining Corp, announced the acquisition of nine Blockbox AC data centers from Bitfury Group, worth $ 7 million. It is reported by FinanceMagnates.

This update will allow Hut 8 to receive a 100% ownership stake in the enterprise, which will provide further cost savings, said Andrew Kigel, CEO of the company.

Note that the deal was funded from the mining giant’s own budget.

According to the company, the purchase increased the efficiency of mining Hut 8 by 16%. In total, Hut 8 operates 94 BlockBox AC data centers with a working capacity of about 110 MW and 963 PH / s.

The Canadian company said that an additional 9 data centers have been modernized and equipped with Bitfury Clarke ASIC chips with a throughput of 12.6 PH / s.

Hut 8 launched in December 2017 in partnershipwith the Bitfury Group when the cryptocurrency market peaked. Since then, the company has mined 12,305 BTC, which it reported in its quarterly income statement ending in September 2019.

Like Hut 8, other mining giants are nowalso found data centers in North America. Thus, ASIC manufacturer Bitmain has launched a data center in Texas with a capacity of 25 MW, which in the future can be increased to 50 MW.

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