Hut8 borrows $12M from Digital Currency Group to order new Bitcoin miners

posted 9 months ago
North American bitcoin mining farm operator Hut 8 has said it is borrowing $11.8 million from Digital Currency Group's mining subsidiary Foundry to expand its mining operations.

The Canada-listed firm said in an announcement Friday that it is using the loans to order 5,400 units of MicroBT's WhatsMiner M30S model. Hut8 said the first batch is set to go online by the end of January while the full delivery is expected to arrive over the coming six months, which will boost Hut8's computing power by 475 petahashes per second.
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