Crypto Miner Hut 8 Buys 12,000 New MicroBT Miners for $58.7M

Crypto Miner Hut 8 Buys 12,000 New MicroBT Miners for $58.7M

Canadian crypto miner Hut 8 Mining (Nasdaq: HUT) has bought 12,000 new MicroBT M30S, M30S+ and M30S++ miners from Inchigle Technology Hong Kong Ltd.

  • The miner bought the units for $58.7 million, a cost of around $50/terahash, with aggregate incremental production of 1.17 exahash per second.
  • Delivery is expected to start in January 2022 at a rate of about 1,000 machines a month, with full deployment by December 2022.
  • The full deployment of the new miners will bring Hut 8′s total contracted capacity to approximately 3.57 EH/s.
  • The new miners, along with the previous announced buys, will be deployed at the company’s two sites in Alberta and a third site, which is under development.
  • In June, Hut 8 announced that it holds “approximately 3,806″ bitcoin on its balance sheet, which it expects to increase to 5,000 by the end of the year.

Read more: Hive Leads Crypto Mining Stocks Higher as Bitcoin Hits All-Time High

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