Share this article
BTC
$94,129.15
-
0.18%ETH
$1,801.92
+
0.45%USDT
$1.0003
-
0.00%XRP
$2.2332
+
1.77%BNB
$601.49
-
0.64%SOL
$149.64
+
0.69%USDC
$1.0000
+
0.00%DOGE
$0.1828
+
0.57%ADA
$0.7019
-
0.91%TRX
$0.2487
-
0.72%SUI
$3.5924
+
5.35%LINK
$14.61
-
1.42%AVAX
$22.10
+
0.82%XLM
$0.2858
-
1.35%LEO
$9.0180
-
0.82%TON
$3.2685
+
0.15%SHIB
$0.0₄1369
-
3.17%HBAR
$0.1887
-
1.69%BCH
$352.65
-
2.23%LTC
$87.14
+
1.16%Sign Up
- Back to menuPrices
- Back to menuResearch
- Back to menuConsensus
- Back to menu
- Back to menu
- Back to menu
- Back to menuWebinars & Events
Hut 8 in Deal to Become 100% Self-Mining Company
The digital asset miner will buy out all hosted rigs at its Medicine Hat mining facility in Alberta.

Canadian crypto miner Hut 8 (HUT) has inked an agreement to purchase all 960 Whatsminer M31S+ rigs from hosting client Taal.
- The purchase of the machines will increase Hut 8’s total hashrate by 81 petahash per second (PH/s) to 2.62 exahash per second (EH/s), said the company in a press release.
- The deal is expected to close on May 1, and will make Hut 8 an owner of the mining rigs, rather than having to pay rent for their usage to Taal.
- “The incremental capacity will deliver an immediate hashrate benefit as ASIC miners are already on-site, installed and hashing," said Hut 8’s CEO Jaime Leverton in the press release. The company on April 5 said it was mining an average of 11.1 bitcoins per day in March, and held 6,460 bitcoins on its balance sheet.
- Mining peer Argo Blockchain (ARB) in March made a similar move to become 100% self-mining with a deal for a swap of mining rigs with its hosting client, Core Scientific.
- Hut 8's stock is up about 3% on Tuesday morning, inline with its mining peers as bitcoin (BTC) gained more than 5% to $41,660.
Aoyon Ashraf
Aoyon Ashraf is CoinDesk's managing editor for Breaking News. He spent almost a decade at Bloomberg covering equities, commodities and tech. Prior to that, he spent several years on the sellside, financing small-cap companies. Aoyon graduated from University of Toronto with a degree in mining engineering. He holds ETH and BTC, as well as ALGO, ADA, SOL, OP and some other altcoins which are below CoinDesk's disclosure threshold of $1,000.
