Hütte 8 Mining opens third facility, reaches 7,000 bitcoins in reserves

Hütte 8 Mining opens third facility, reaches 7,000 bitcoins in reserves

hut 8 Mining opened its third location after the number of bitcoins had reached 7,000 in its reserves, since the company further strengthened its capacity despite a broadly created crypto turndown.

The Mine of the Canadian company in North Bay, Ontario, took up the company with 15 megawatt (MW) on June 2 and increased the operating capacity of HUT 8 by about 400 Petahashes per second (Ph/s).

"We are expanding both miners and capacities on site and are working to significantly increase the production in the coming weeks and months, so HUT 8 CEO Jaime Leverton shared in an email and found that the goal was to ultimately achieve an output of 30 MW in the company in North Bay.

The executive refused to comment on whether the company is planning to open further institutions.

hut 8 Mining, which also has two locations in South Alberta, broke down 309 bitcoins in May, which increases its overall bitcoin reserve to 7,078. Its current operating capacity is 2.64 Exahashes per second (EH/S).

The last month was the same as the production in April, but under the production of 345 bitcoins in March.

HUT 8 limited its consumption in his facility in Drumheller when the electricity price increase, the company shared on Monday.

"We keep everything we break down, and 100 % of our stack are unencumbered, which means that we not only work efficiently and pursue a very strategic approach for the purchase of equipment and consistently increase the efficiency in our mines, but also have a level of flexibility apart from our colleagues," said Leverton.

The third institution of the company follows the takeover of the company for wireless connectivity Terrago at the end of January for $ 30 million (CAD), which brought five data centers according to HUT 8.

SUE Ennis, Vice President of the company's investor and company development, said Blockworks in March that HUT wants to set up 8 scalable cloud services that offer an alternative to cloud computing giants such as Amazon Web Services, Google Cloud and Switch.

Leverton said that the purchase of data centers gave Hut 8 a monthly recurring source of 400 corporate customers, from which it expects it to grow by up to 18 % this year. The company's certified repair workshop offers further sales and supply chain advantages, added.

The share price of HUT 8 was $ 2.23 on Monday afternoon, which corresponds to a decline of about 70 % in the previous course and a decrease of almost 20 % in the last five days.

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The Posthütte 8 Mining opens third facility, reaching 7,000 bitcoins in reserves is not a financial advice.