The Toronto-based mining company announced on July 16 the completion of its second mining center in Canada, saying it has become the world's largest “public operator.”
In a press release, Hut 8 announced that construction of their Medicine Hat farm was completed ahead of schedule in September. Launched in December 2017 with the support of BitFury, which provided the company with mining equipment and other tools, Hut 8 has already mined more than 1,900 bitcoins.
The relative success of BitFury and Hut 8 further diversifies the Bitcoin mining market, which is currently Chinese company Bitmain. Hut 8 CEO Andrew Kigwell said in a press release: “We know that we are the largest miner in Canada, with a combined mining capacity of 66.7 MW.”
According to sources, Hut 8 expects the company's share price - currently at $2.45, down from $4.70 at the time of the initial offering - to move up to $7.85.
Today, large-scale cryptocurrency mining in Canada is not an easy task. Quebec's trial experiments in this area have met with stiff resistance from Canadian politicians who do not believe that cryptocurrencies have “value.”
According to cointelegraph.com
You May Also Like
Soluna is going to compensate for electricity
The amount of electricity used for mining is of concern in terms of environmental impact. Current estimates place the energy consumption for Bitcoin mining at around 2.55 gigawatts, almost as much as the whole of Ireland consumes. And this problem only gets worse as the number of operations increases.
Kolomoisky has equipped a new mining farm at a factory in Zaporozhye
Europe's largest producer of iron alloys, Zaporozhye Ferroalloy Plant (ZZF), is preparing to host the third crypto-farm of the Ukrainian oligarch.
