Hut 8 Announces Share Issuances

Hut 8 Mining (TSXV:HUT) has announced the issuance of over 2 million of its shares to Bitfury at $3.75 per share in satisfaction of 40 percent of the purchase price for BlockBox AC Data centers which was announced in September.

As quoted in the press release:

In addition, the Company has announced that it has submitted application to the TSX Venture Exchange (the “TSXV”) for the issuance of 131,975 common shares at a price of $1.20 per common share to certain directors, officers and employees of Hut 8 who elected to receive common shares instead of cash compensation for services rendered. The issuance of such shares remains subject to TSXV approval and will be subject to a statutory four-month hold period in accordance with applicable securities laws.

Hut 8 currently operates a total of 73 of Bitfury’s BlockBox AC data centers, including: (a) 56 at its facility in Medicine Hat, Alberta, each BlockBox AC data center with 1.2 MW of capacity, representing an aggregate of 67.2 MW of maximum operating power; and (b) 17 at its facility in Drumheller, Alberta, representing an aggregate of 18.7 MW of maximum capacity, for a total of 85.9 MW of maximum operating power and a hash rate of 640 Petahashes per second. Hut 8 plans to add an additional 12 BlockBox AC data centers in Drumheller, Alberta representing an aggregate of 14.4 MW and 144 PH/s before year end.

Since beginning its mining operations in December 2017, Hut 8 has mined over 5,100 bitcoins.

Click here to read the full press release.