Hut 8 Begins Trading on OTCQX Best Market

Blockchain Investing

Hut 8 Mining (TSXV:HUT; OTCQX:HUTMF) has announced it will now begin trading on the OTCQX Best Market. As quoted in the press release: “Since becoming a public company earlier this year, we have drawn tremendous interest in our cryptocurrency mining business model,” said Andrew Kiguel, President and Chief Executive Officer of Hut 8. “Obtaining approval …

Hut 8 Mining (TSXV:HUT; OTCQX:HUTMF) has announced it will now begin trading on the OTCQX Best Market.

As quoted in the press release:

“Since becoming a public company earlier this year, we have drawn tremendous interest in our cryptocurrency mining business model,” said Andrew Kiguel, President and Chief Executive Officer of Hut 8. “Obtaining approval to trade on the OTCQX Best Market will provide greater exposure, accessibility and liquidity for our current and potential shareholders throughout the global investment community.”
On March 8, 2018, Hut 8 began trading on the TSX Venture Exchange under the symbol “HUT” after completing two equity financings that raised more than $100 million. The Company will continue to trade on the TSX Venture Exchange.
Hut 8 owns bitcoin mining data-centers called BlockBoxes, purchased from Bitfury, and is regarded as one of the world’s largest bitcoin mining companies. The Company presently owns and operates 17 BlockBoxes representing a power capacity of 18.7 MW in Drumheller, Alberta and is currently installing another 40 fully-funded BlockBoxes (with a power capacity of 48 MW) in the City of Medicine Hat, Alberta. Full-scale production from the Medicine Hat facility is expected to commence in September 2018, resulting in a total of 57 BlockBoxes with an aggregate of 66.7 MW of power capacity.
Since commencing operations in December 2017, Hut 8 has mined, and continues to hold, more than 1,400 bitcoin, currently valued at approximately $13.5 million.