Hut 8 buys MicroBT miners for more than $44 million

Nasdaq-listed mining company Hut 8 Mining announced the purchase of 11,090 MicroBT miners from Hong Kong-based SuperAcme Technology.

The batch of equipment from the Whatsminer M30S, M30S+ and M31S models was worth $44.373 million.

Delivery of the miners is expected to begin in October 2021, with deployment of the devices to be completed by December.

According to a press release, the acquisition complements a prior small purchase of 863 units of the M30S+ and M30S. The equipment will be delivered and deployed in July 2021.

After the completion of the new contract, Hut 8 expects its hashrate to rise by 1.081 EH/s. Along with previously disclosed investments, this would bring the company’s total to about roughly up to 2.5 EH/s and mine 14-16 BTC per day, versus the current daily production of 6.5-7.5 BTC.

The company plans to deploy the new fleet at a 100 MW mining facility under construction.

Earlier in 2021, Hut 8 took out a loan of $11.8 million at 16.5% annual rate to purchase 5,400 Whatsminer M30S ASIC miners.

Subscribe to ForkLog news on VK.