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Miners from the company’s North Bay site to be energized in Texas in Late July
TORONTO, June 22, 2023 /PRNewswire/ — Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hut 8” or the “Company”), one of North America’s largest, innovation-focused digital asset mining pioneers, and high performance computing infrastructure provider, has entered a hosting agreement for approximately 6,400 ASIC miners previously energized at the Company’s North Bay site.
Hut 8 Mining Corp. Logo
“Relocating our miners will provide us with approximately 600 PH/s of additional installed operating capacity,” said Jaime Leverton, CEO of Hut 8. “Once the machines are energized, our total installed hashrate will increase to approximately 3.2 EH/s.”
The agreement includes a 3-month initial term which will renew for successive one-month periods unless terminated by either party by providing 30 days’ notice. The machines are being shipped immediately and are expected to be energized in late July.
As announced on May 9, the Hut 8 team has been actively pursuing options to operationalize the bulk of the miners it had installed in its North Bay site. An additional 988 miners previously located at the North Bay facility were energized at the Hut 8 Medicine Hat facility in March 2023.
About Hut 8
Hut 8 is one of North America’s largest innovation-focused digital asset miners, led by a team of business-building technologists, bullish on bitcoin, blockchain, Web 3.0, and bridging the nascent and traditional high performance computing worlds. With two operational digital asset mining sites located in Southern Alberta, Hut 8 has one of the highest capacity rates in the industry and one of the highest inventories of unencumbered, self-mined Bitcoin of any digital asset miner or publicly-traded company globally. With over 36,000 square feet of geo-diverse data centre space and cloud capacity connected to electrical grids powered by significant renewables and emission-free resources, Hut 8…
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