Friday, March 26, 2021 9:17:31 AM
TORONTO, March 26, 2021 /CNW/ - Hut 8 Mining Corp. (TSX: HUT) ("Hut 8") has executed on a purchase of $30 million USD of NVIDIA CMPs, which will be delivered starting in May 2021, with full deployment expected to be completed this summer.
Hut 8 Mining Corp Logo (CNW Group/Hut 8 Mining Corp)
Hut 8 Mining Corp Logo (CNW Group/Hut 8 Mining Corp)
The addition of the NVIDIA CMPs is set to dramatically increase Hut 8's aggregate operating rate by approximately 1600 Gigahash. Hut 8 will use the NVIDIA CMPs to mine alternative blockchain networks and expand its mining business while maintaining the benefit of payouts in Bitcoin.
With this bold move, Hut 8 now has the opportunity to pursue additional computationally intensive applications in the high-performance computing space. This transaction serves to strengthen Hut 8's initiative to increase revenue diversification and drive immediate short- and long-term revenue growth objectives forward in FY 2021.
"The adoption and the development of applications interacting with various blockchain networks have never been stronger, opening many possibilities across a variety of industries," said Jaime Leverton, CEO of Hut 8. "We are incredibly excited to have these high performance CMPs in our fleet. We believe mining with CMPs will open up new opportunities for Hut 8 and will allow us to continue to execute on our long- and short-term plans for increased and diversified revenue streams."
Be courteous to all, but intimate with few, and let those few be well tried before you give them your confidence. -G. Washington
Recent HUT News
- Strong Institutional BTC ETF Adoption, CME Group Ventures into Bitcoin Spot Trading, and More Crypto News • IH Market News • 05/16/2024 08:18:16 PM
- U.S. Index Futures Flat Ahead of April CPI Data Release, Oil Prices Drop • IH Market News • 05/15/2024 11:50:05 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 10:50:16 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 10:45:47 AM
- Hut 8 Reports First Quarter 2024 Results • GlobeNewswire Inc. • 05/15/2024 10:30:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/10/2024 10:08:55 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/09/2024 10:49:19 PM
- Hut 8 Operations Update for April 2024 • GlobeNewswire Inc. • 05/06/2024 10:30:00 AM
- Media Advisory: Hut 8 to Release Q1 2024 Results May 15 • GlobeNewswire Inc. • 04/24/2024 10:30:00 AM
- BTC Mining Activity Surges Post-Halving, GatlingX Unveils Revolutionary EVM and More Crypto News • IH Market News • 04/22/2024 06:33:32 PM
- Canadian Investor Alert: SMK Law Announces Investigation into Hut 8 Corp. (TSX: HUT.TO, NASDAQ: HUT) • Business Wire • 04/17/2024 12:00:00 PM
- Hut 8 optimizes self-mining operations as miners come online at Salt Creek • GlobeNewswire Inc. • 04/16/2024 10:30:00 AM
- Crypto: Morgan Stanley and UBS Compete for Leadership in Bitcoin ETFs, Risks in Ethena’s USDe Strategy, and More • IH Market News • 04/05/2024 06:15:55 PM
- Hut 8 Operations Update for March 2024 • GlobeNewswire Inc. • 04/05/2024 10:30:00 AM
- Hut 8 Corp. Class Action: The Gross Law Firm Reminds Hut 8 Investors of the Pending Class Action Lawsuit with a Lead Plaintiff Deadline of April 8, 2024 - HUT • PR Newswire (US) • 04/05/2024 09:45:00 AM
- Investors who lost money on Hut 8 Corp.(HUT) should contact The Gross Law Firm about pending Class Action - HUT • PR Newswire (US) • 04/02/2024 09:45:00 AM
- Hut 8 Corp. Sued for Securities Law Violations - Investors Should Contact The Gross Law Firm for More Information - HUT • PR Newswire (US) • 03/29/2024 09:45:00 AM
- US Stock Futures Stable in Pre-Market On Path for Consecutive Quarterly Gains, Oil Prices Rise • IH Market News • 03/28/2024 11:42:00 AM
- Hut 8 Reports Operating and Financial Results for the Six Months Ended December 31, 2023 • GlobeNewswire Inc. • 03/28/2024 10:30:00 AM
- Class Action Filed Against Hut 8 Corp. (HUT) - April 8, 2024 Deadline to Join - Contact The Gross Law Firm • PR Newswire (US) • 03/26/2024 09:45:00 AM
- Hut 8 Corp. Securities Fraud Class Action Lawsuit Pending: Contact The Gross Law Firm Before April 8, 2024 to Discuss Your Rights - HUT • PR Newswire (US) • 03/22/2024 09:45:00 AM
- Media Advisory: Hut 8 to Release Q4 2023 Results March 28 • GlobeNewswire Inc. • 03/12/2024 10:30:00 AM
- Hut 8 Streamlines Operations with Closure of Drumheller Site • GlobeNewswire Inc. • 03/06/2024 11:30:00 AM
- Hut 8 Operations Update for February 2024 • GlobeNewswire Inc. • 03/05/2024 11:30:00 AM
- Investors in Hut 8 Corp. Should Contact The Gross Law Firm Before April 8, 2024 to Discuss Your Rights - HUT • PR Newswire (US) • 03/05/2024 10:45:00 AM
Last Shot Hydration Drink Announced as Official Sponsor of Red River Athletic Conference • EQLB • Jun 20, 2024 2:38 PM
ATWEC Announces Major Acquisition and Lays Out Strategic Growth Plans • ATWT • Jun 20, 2024 7:09 AM
North Bay Resources Announces Composite Assays of 0.53 and 0.44 Troy Ounces per Ton Gold in Trenches B + C at Fran Gold, British Columbia • NBRI • Jun 18, 2024 9:18 AM
VAYK Assembling New Management Team for $64 Billion Domestic Market • VAYK • Jun 18, 2024 9:00 AM
Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM