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

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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 websites in Alberta and a 3rd website, which is underneath growth.
  • In June, Hut 8 introduced that it holds “roughly 3,806″ bitcoin on its steadiness sheet, which it expects to extend to five,000 by the tip of the 12 months.

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

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