Hut 8 Completes Construction at Medicine Hat Facility, 40 BlockBoxes Now Operational

Hut 8 Mining (TSXV:HUT) has announced it has completed construction of its bitcoin mining facility in Medicine Hat, including the electrification of an additional 24 BlockBox datacenters.

As quoted in the press release:

Hut 8 now operates 40 BlockBox datacenters at its CMH Facility, each with 1.2 MW of capacity, representing 48 MW of operating power, and 17 BlockBoxes at its Drumheller facility, representing 18.7 MW of operating power, for a total of 66.7 MW of fully-funded operating power and 487.5 petahashes per second (“PH/s”).

“As a result of our employees’ hard work, our partners at the Bitfury Group and the cooperation from the City of Medicine Hat, our construction is complete – ahead of schedule and on budget.  We are pleased to have surpassed our September 2018 completion target,” said Andrew Kiguel, President and Chief Executive Officer of Hut 8. “With 66.7 MW of aggregate operating capacity, we believe we are the largest cryptocurrency miner in Canada and the largest publicly-traded cryptocurrency miner by operating capacity in the world.  In addition, we are actively pursuing further opportunities to deliver value to our investors.”

The 40 BlockBoxes at Hut 8’s CMH facility use an updated 14 nanometre chip, compared to the 16 nanometre chip currently used at its 17 BlockBoxes at its first mining location in Drumheller.  Thus far, the new BlockBoxes have been operating in excess of 9 PH/s rather than the anticipated 8 PH/s.  This increased hash rate means that Hut 8 will have even better potential of earning the daily bitcoin blockchain reward.

Click here to read the full press release.