On Tuesday, Hut 8 Mining Corp. announced that it will join the Bitcoin mining pool at Foundry in the United States. The publicly listed mining company said it added 14,400 machines to Foundry’s mining operations and plans to deploy another 5,000 miners by August.
Hut 8 joins Foundry’s US market and adds 14,400 Bitcoin mining equipment, which is close to the hash value of the hash
The Toronto-based Hut 8 (TSX: HUT) company revealed that the company is joining a US mining pool called by Foundry Digital LLC. Foundry is a wholly-owned subsidiary of Digital Currency Group (DCG), which is dedicated to cryptocurrency mining and mortgage services.
The announcement explained that Hut 8 is currently being mined in the Foundry USA pool, and some Hut 8 miners are being deployed to the Foundry pool. About 0.81 exahash of hashpower or 14,400 bitcoin mining equipment will be added.
“In every decision we make, we are committed to improving shareholder value,” Hut 8 CEO Jaime Leverton said in the announcement. Leverton added: “As we continue to be one of the largest and most innovative bitcoin miners in the Western Hemisphere, we have a strong, fully operating and fully operating bitcoin mining pool in North America for us. Vital.”
The goal of Hut 8 is to deploy an additional 1.20 Fahrenheit energy before the end of summer
Hut 8 plans to deploy another 5,000 drilling rigs by August 2021, and a press release sent to Bitcoin.com emphasizes that Foundry’s mining pools “can serve as a powerful alternative to the U.S.-led mining pool industry to replace the Chinese-led mining pool industry.”
Foundry CEO Mike Colyer said that Hut 8’s team is also a customer of the company’s equipment financing business. “We are very happy to welcome them to our pool because we are working hard to ensure that North America ranks among the top five Bitcoin mining pools in the world,” Koyer emphasized.
By August 2021, when another 5,000 miners are chained to Foundry’s US mine vault, its hash power will reach about 1.20 Hundred An Yi. Foundry said the pool provides “miner warehouse management services,” which includes services related to DCG subsidiary Genesis.
The press release concluded: “Among these services, you can choose to generate Bitcoin (BTC) revenue on the mined BTC, which allows customers to maximize the overall BTC revenue of their operations.” “Other products supported by Genesis include high Security custody, BTC mortgage loans, derivative products and seamless liquidation.”
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