Hut 8 Buys 11,090 New Bitcoin Mining Rigs For $44 Million

North American bitcoin mining company Hut 8 has purchased 11,090 rigs for $44 million to complement an earlier purchase of 863 machines.

Hut 8 Mining Corporation has announced a $44 million purchase of 11,090 WhatsMiner MicroBT M30S, M30S+ and M31S bitcoin mining rigs from Hong Kong-based company SuperAcme Technology.

The purchase complements an earlier one of 863 M30S+ and M30S miners, which Hut 8 expects to be delivered and deployed this month. However, the latest batch of machines won’t be delivered until October, with full deployment expected to be completed by December 2021.

Hut 8 plans to employ the almost 12,000 rigs in a 100 megawatt (MW) facility being planned, reportedly being developed in partnership with Validus Power. Additionally, the company expects these miners to amount to a hashing capacity of around 1.081 exahashes per second (EH/s) after full deployment.

According to its website, the bitcoin mining company currently has two farms in Alberta, Canada. An operation in Medicine Hat is said to have a 67 MW capacity with 0.7 EH/s ability, while a mining farm in Drumheller houses 43 MW of power and a 0.34 EH/s capacity.

If Hut 8’s plans are actualized, the company could reach around 2.5 EH/s hash rate capacity by the end of 2021. Considering the current rankings, this would make the mining firm the 11th-largest bitcoin miner globally, right behind SBI Crypto, which currently has 2.89 EH/s capacity.

While Chinese miners are being forced to relocate their operations overseas following the nation’s recent Bitcoin crackdown, North America has seen increased activity. In June alone, the region saw a mining farm that turns waste coal into BTC raise $105 million, an approval for bitcoin mining firm Hive Blockchain to list on the Nasdaq, Blockware Mining raise $25 million, and mining company in-the-making TeraWulf order 30,000 rigs from Bitmain.


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