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Hut 8 Adds 16 BlockBox Data Centers, Doubles Bitcoin Mining Capacity
Jun. 21, 2018 08:30AM PST
Blockchain InvestingHut 8 Mining (TSXV:HUT) has announced the launch of 16 BlockBox Data Centers, which are 19.2 MW of power capacity, at its mining facility in Medicine Hat. As quoted in the press release: Hut 8 is one of the world’s largest publicly-traded bitcoin miners based on funded and operating computing capacity and has been established …
Hut 8 Mining (TSXV:HUT) has announced the launch of 16 BlockBox Data Centers, which are 19.2 MW of power capacity, at its mining facility in Medicine Hat.
As quoted in the press release:
Hut 8 is one of the world’s largest publicly-traded bitcoin miners based on funded and operating computing capacity and has been established through an exclusive arrangement with the Bitfury Group, the world’s leading full-service blockchain technology company.
“We are extremely proud of the team at Hut 8 and the Bitfury Group to have successfully set up 16 BlockBoxes in the City of Medicine Hat. We are on track to have an additional 24 BlockBoxes fully operational in September 2018,” stated Andrew Kiguel, President and Chief Executive Officer of Hut 8. “We have doubled our operating power to 37.9 MW of aggregate capacity and are on the path to 66.7 MW.”
Hut 8’s 37.9 MW of current operations is comprised of 17 BlockBoxes representing 18.7 MW in Drumheller, Alberta, and the newly electrified 16 BlockBoxes upgraded to 1.2 MW and 8 PH/s each, representing 19.2 MW in the City of Medicine Hat, Alberta.
The Company has a total hash rate of 256 PH/s at present, which is one of the highest of any publicly-traded bitcoin miner in the world. Hash rate refers to the speed at which a computation can be processed. A high hash rate provides a bitcoin miner with a higher chance of successfully solving the block and claiming the bitcoin reward.