Hut 8 Mining, one of North America’s largest cryptocurrency miners, announced that it will sell what it has to produce more Bitcoin (BTC).
Canadian Hut 8 Mining has taken action to strengthen its Bitcoin operations. In a statement made by the company, in Texas 63 megawatts (MW) on the balance sheet to finance near-term growth, including a plan to build a new field. 9,000 Bitcoins It was stated that it would be sold.
The facility to be implemented in Culberson County, Texas In the second quarter of 2024 The company, which aims to become active, has a total of 17.3 million dollars will be spent he emphasized.
Making a statement on the subject, Hut 8 CEO Asher GenootHe stated that as a result of the work done, the new facility will operate very efficiently and will cost affordable prices:
The Culberson County project is an example of Hut 8’s focus on business excellence. Our in-house development team allows us to build quickly and cost-effectively. Our entire cost to design and build the Culberson County site is expected to be less than $275,000 per MW, compared to the benchmark of approximately $460,000 per MW established by recent acquisitions in the area. This represents a savings of more than 40%, or approximately $18,500,000 in upfront development costs for every 100 MW of expansion. For the Culberson County site specifically, this means we expect to build the site for $17,300,000 or less, rather than approximately $29,000,000.