Hut 8 has bought more than $44m worth of miners from MicroBT

July 1, 2021


Hut 8 has bought more than $44m worth of miners from MicroBT

Nasdaq-listed mining company Hut 8 Mining announced the purchase of 11,090 MicroBT miners from Hong Kong-based SuperAcme Technology.

The batch of Whatsminer M30S, M30S+ and M31S models cost $44.373 million.

Deliveries of the miners are expected to begin in October 2021, with deployment of the devices completed by December.

According to the press release, the acquisition is in addition to a small purchase of 863 M30S+ and M30S units made earlier. This equipment will be delivered and deployed in July 2021.

Hut 8 expects

Upon completion of the new contract, Hut 8 expects a 1,081 EH/s increase in hash rate. Along with the previously announced investment, this will bring the company's total to around 2.5 EH/s and mine 14-16 BTC per day compared to the current daily output of 6.5-7.5 BTC.

The firm plans to deploy the new fleet of devices in a new 100MW mining facility.

Recall that in early 2021, Hut 8 took out an $11.8 million loan at 16.5% APR to buy 5,400 units of Whatsminer M30S ASIC miners.

Bitcoin Era Scam. Test And Experience. Is Bitcoin Era legit or a scam? Real experience: Not reputable! Read now for help & advice!

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

Leave a Reply

Your email address will not be published. Required fields are marked

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}