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

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

This update will allow Hut 8 to gain 100% ownership of the enterprise, which will provide further cost savings, – said Andrew Kiegel, the company's CEO.

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

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

The Canadian company clarified that an additional 9 data centers have been upgraded and are 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 noware also establishing data centers in North America. Thus, ASIC manufacturer Bitmain recently launched a data center in Texas with a capacity of 25 MW, which in the future could be increased to 50 MW.