One of the largest innovative digital asset mining companies in North America, Hut 8 Mining Corp., has purchased 12,000 new MicroBT M30S, M30S+, AND M30S++ miners of $58.7 million worth. The purchase is made from Inchigle Technology Hong Kong Limited.
The strategic shopping represents a cost of around $50/Terahash with total incremental production of around 1.17 EH/s.
Open and decentralized systems supporting the company informed that hopefully, the miners’ delivery will begin from January 2022 with a rate of 1,000 machines per month. The company expects the full deployment of the system by December 2022.
The market experts predict a huge surge in the production capacity after the previously announced investment and this purchase, coming up to around 3.57 EH/s.
The previous order of 1.0 EH/s from MicroBT and the new order will be deployed strategically at the company’s two sites in Alberta along with the third site, currently under development with Validus Power.
Diversified business strategy of Hut 8
The Chief Executive Officer (CEO) of Hut 8, Jaime Leverton, said that the company is thrilled with this new purchase of MicroTB equipment.
“The strongness of our relationship with MicroBT enabled us to execute on this compelling investment opportunity quicker. While the timing of Bitcoin achieving an ATH is a coincidence, this investment intensifies our commitment to efficiently mine and Hodl Bitcoin.”
Hut 8 has one of the most extensive installed capacity rates. The company holds the world’s highest self-mined Bitcoins. It has expanded its business and revenue strategy by diversifying itself for growing and protecting shareholder value regardless of where BTC moves.
Its diversified business strategy model includes profitable digital asset mining, white-label compute hosting, and yield & income programs leveraging its BTC reserves.