Canadian Hut 8 Mining Corp completed a deal to purchase Nvidia CMP mining GPUs for $30 million, aimed at expanding its mining business beyond Bitcoin.
Equipment deliveries will begin in May 2021, and the company expects its full deployment to be completed within the summer.
The acquired devices will increase Hut 8’s total hash rate by 1.6 TH and will allow it to diversify its cryptocurrency mining business through Ethereum and other altcoins.
According to CoinDesk, Nvidia CEO Colette Kress said she expected mining processor sales in the first quarter of 2021 to reach $50 million. The deal with the Canadian firm accounts for more than half of that amount.
The first photographs of RTX 30-series specialised GPUs for professional mining on Nvidia chips appeared in mid-March.
These crypto-mining devices lack video outputs. In gaming GPUs, Nvidia limited mining performance at the firmware level, but enthusiasts broke through the protection with the help of an official test driver.
Hut 8 joined the Foundry USA mining pool, launched earlier by Barry Silbert’s Digital Currency Group subsidiary.
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