Bitcoin Miner aims at gaming, web3 with the expansion of the cloud services

Bitcoin Miner aims at gaming, web3 with the expansion of the cloud services

One of the largest Bitcoin miner in North America strives to expand its cloud computing business.

hut 8 Miningsue Ennis, Vice President of Investor and Corporate Development, told Blockworks that the company would like to diversify its business beyond the dismantling of digital Assets after a recent takeover.

The company based in Toronto broke 289 bitcoins last month and had 6,115 bitcoins in its balance sheet on February 28. Hut 8 has more than 35,000 mining machines and 109 megawatts.

"When the industry has matured further, we started asking ourselves ... What's next?" said Ennis.

hut 8 Mining School at the end of January the purchase of the company for wireless connectivity Terrago for $ 30 million or $ 23.7 million. The deal brought five Canadian terrago counting centers according to Hut 8.

The idea is to set up scalable cloud services that, according to Ennis, offer an alternative to cloud computing giants such as Amazon Web Services, Google Cloud and Switch.

data centers can have up to 40 % of the unused cloud storage space at any time, she said, wants to use the HUT 8 for web3 and blockchain-based gaming infrastructures.

This includes gaming rendering, non-fungable token (NFT) memory, management of the node infrastructure and general memory for exchange as well as layer 1 and layer 2 protocols.

"We double these Amazon Web Services for Web3 and Blockchain games," said Ennis. "We will still be miner, but we only concentrate on expanding the actual full ecosystem and anchoring ourselves deeper."

The company has recently received a multi -year partnership with enthusiast gaming. In return that the game company integrates the content of HUT 8 into its communities in games, the crypto company enthusiasts will host gaming content in its data centers.

"HUT 8 has established itself as an innovative market leader by connecting digital asset mining and now serves both traditional high-performance applications and applications in the gaming and blockchain area," said Adrian Montgomery, CEO of enthusiast gaming, in a statement.

Allianz strengthens the visibility of HUT 8 for the 300 million viewers of enthusiast gaming from gen z and millennials, said Ennis, of which the majority invest in stocks and crypto.

"It is the ability to get deeper ties and more attention for our company and what we do and ultimately to buy our shares on the market because we are now where many of our small investors are," she remarked.

The company also has "global ambitions," said Ennis, including the intention to make acquisitions in Dubai and all over Asia.

"There are so many newcomers who have entered this bull market," she said. "We believe that this year will be a bit volatile, we believe that it will be a phase of consolidation ... So we are definitely looking for and are ready to go shopping."

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