Canada-based crypto mining firm Hut 8 has closed a deal that will see the company become fully focused on self-mining.
The publicly-traded company is buying all 960 Whatsminer M31S+ machines from hosting client TAAL, according to an announcement on Tuesday.
The ASIC machines are currently installed in the company’s facility in Medicine Hat, Canada. And effective May 1 Hut 8 will no longer act as a host.
The move will add 81 petahash per second (PH/s) to Hut 8’s collective mining power, bringing the total to 2.62 exahash per second.
“The incremental capacity will deliver an immediate hashrate benefit as ASIC miners are already on-site, installed and hashing,” said Hut 8 CEO Jaime Leverton.
Hut 8’s stock is up 4 percent from the open, according to Nasdaq data, trading at about $4.51 as of the time of writing.
Source: https://www.theblockcrypto.com/linked/142522/hut-8-reveals-plan-to-become-fully-focused-on-in-house-mining-after-deal-to-buy-asics?utm_source=rss&utm_medium=rss