Hut 8 Mining Corp Enters Hosting Deal for 6,400 ASIC Miners

  • Investing.com
Hut 8 Mining Corp Enters Hosting Deal for 6,400 ASIC Miners

Hut 8 Mining Corp. (Nasdaq: HUT) has entered a hosting agreement for approximately 6,400 ASIC miners previously energized at the Company's North Bay site.

"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.

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