Hut 8 Adds To Mining Capacity With Another Purchase From Foundry Digital
Hut 8 Mining (TSX: HUT) is purchasing further equipment from Foundry Digital yet again. The company this morning indicated that it will once again be expanding its computing power via the purchase of additional miners.
The latest purchase will see the addition of 2,505 MicroBT M30S miners to Hut 8’s fleet, which is expected to add an additional 228 PH/s of computing power to the firms overall capacity. Following the purchase, the company will have total computing power of roughly 1.94 EH/s.
Further benefiting the company, is the fact that the miners are presently installed at its Medicine Hat, Alberta, mining facility. Ownership is expected to transition to Hut 8 as of December 15, at which point the firm will immediately gain the computer power.
Financial details of the transaction were not provided. Prior purchases from Foundry have been transacted via equipment financing loans, however that is not believed to have occurred under the current transaction.
Hut 8 Mining last traded at $11.68 on the TSX.
Information for this briefing was found via Sedar and Hut 8 Mining Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
