Hut 8 Buys $44M Worth of Miners, Doubling Its Hashrate

Hut 8 Buys $44M Worth of Miners, Doubling Its Hashrate

Canadian crypto-mining company Hut 8 Mining will almost double its hashrate by the end of the year with the purchase of 11,090 new miners for $44.4 million, the company said in a press release today.

The purchase comes on the heels of a $82 million fundraise that the company said would help expand its crypto mining capacity.

The machines are MicroBT M30S, M30S+, and M31S miners from Hong Kong-based SuperAcme Technology. They’re expected to be delivered in October and fully deployed by December.

The extra capacity is set to push Hut 8’s hashrate to 2.5 exahashes per second (EH/s), increasing Hut 8’s current average production from 6.5-7.5 bitcoins mined a day to 14-16 bitcoins a day.

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