Beyond Bitcoin Mining: Hut 8 Targets the Intersection of Energy and Technology, Says CEO Asher Genoot

January 8, 2025 Bitcoin.com

Bitcoin

Asher Genoot, CEO of Hut 8, one of North America’s largest bitcoin miners, emphasized the company’s commitment to empowering next-generation technologies with its dual focus on bitcoin and AI. Sustainable and Scalable Energy Solutions Are Vital for Transformative Technologies As bitcoin trades above $100,000 again amidst surging institutional interest, Asher Genoot, CEO of Hut 8 […]

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A Deep Dive into Bitcoin Mining Veteran Hut 8

December 1, 2024 Bitcoin.com

Bitcoin mining

A deep dive into Hut 8 Mining, uncovering its often overlooked business sectors. Understand its financial performance, strategic initiatives and HPC/AI developments. The following guest post comes from Bitcoinminingstock.io, providing comprehensive data, in-depth research, and analyses on Bitcoin mining stocks. Originally published on Nov. 29, 2024, it was penned by Bitcoinminingstock.io author Cindy Feng. The […]

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Hut 8 tips 66% hashrate boost after deal to buy 31K Bitcoin miners

November 7, 2024 Coin Telegraph

Hut 8 could see its hash rate rise from 5.6 exahashes per second to 24 EH/s by Q2 2025 should it also execute a 15 EH/s purchase option with Bitmain.

Bitcoin miner Hut 8 forecasts its self-mining hash rate will increase by 66% around the first quarter of 2025 after agreeing to buy 31,145 Bitmain Antminers S21+ machines.

Hut 8 agreed to pay $15 per terahash for the miners, scheduled for delivery in early Q1 2025, the firm revealed in a Nov. 6 statement.

Hut 8 expects its self-mining hashrate to increase from 5.6 exahashes per second to around 9.3 exhashes per second (EH/s) once the machines are installed — marking a 66% increase.

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Bitcoin mining stocks rocket 24% on macro climate, AI play: Analyst

October 29, 2024 Coin Telegraph

Bitcoin Network Difficulty

Deficit spending and lower interest rates have boosted global liquidity higher, benefiting Bitcoin and related markets, Blockware’s Mitchell Askew said.

Share prices of Bitcoin miners soared as high as 24.4% on Oct. 28 as Bitcoin rallied over $70,000 — with an analyst pointing to an increasingly favorable macroeconomic climate and miners’ continued diversification into AI.

“Deficit spending and lower interest rates are driving global liquidity higher [while] investors are fearful of high inflation over the long term, as evidenced by poor performance from treasury bonds since the Sept[ember] rate cut,” Mitchell Askew, head analyst at Bitcoin (BTC) mining firm Blockware told Cointelegraph.

As such, investors are turning to the Bitcoin markets where Bitcoin mining stocks are trading at a “beta.”

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Hut 8 Launches GPU-as-a-Service Vertical, Deploys 1,000 Nvidia GPUs

September 26, 2024 Bitcoin.com

AI cloud

Hut 8 Corp. has officially launched its GPU-as-a-service vertical, marking a significant step in the company’s diversification efforts. The deployment includes 1,000 Nvidia H100 graphics processing units (GPUs), hosted in a Chicago-based tier-three data center, for an artificial intelligence (AI) cloud developer. Hut 8 Deploys 1,000 Nvidia GPUs The new GPU cluster, designed and configured […]

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860 Terahash — Hut 8 and Bitmain Partner to Launch New Direct Liquid-to-Chip ASIC Miner

September 19, 2024 Bitcoin.com

AI Infrastructure

Hut 8 Corp. has announced an expanded partnership with Bitmain Technologies, unveiling the U3S21EXPH, a next-generation ASIC miner. The launch represents a significant milestone, with plans for deployment in Q2 2025 and a potential transition to self-mining through a purchase option. Hut 8 and Bitmain Partner on Innovative Miner to Boost Bitcoin Mining Infrastructure The […]

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Bitcoin miner revenues dwindle as halving erodes mining volumes: Bitbo

September 2, 2024 Coin Telegraph

Mining revenues hit 12-month lows in August, according to Bitbo.

Bitcoin (BTC) miners saw mining revenues dwindle to 12-month lows as the Bitcoin network’s April halving continues to erode mining output and, in turn, revenues, according to data from Bitbo, a Bitcoin dashboard.

Monthly BTC mining revenues declined to approximately $827 million in August 2024, according to Bitbo. That’s lower than any month since September 2023 and far below pre-halving peaks of almost $2 billion in March 2024.

Roughly every four years, a halving event hardcoded into the Bitcoin network cuts the number of BTC mined per block in half. The April halving reduced mining rewards from 6.25 BTC to 3.125 BTC per block.

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Bitcoin Miner Hut 8 Secures 205 MW Power Agreement in Texas

July 9, 2024 Bitcoin.com

Bitcoin

Bitcoin miner Hut 8 Corp. has entered into a definitive power purchase agreement for a site in West Texas. The agreement provides Hut 8 with 205 megawatts of power capacity, marking the first conversion from its 1,100 megawatts development pipeline. Hut 8 Finalizes 205 MW Power Purchase Agreement in West Texas The new site, connected […]

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Hut 8 ‘self-mining plans’ make it competitive post-halving: Benchmark

April 23, 2024 Coin Telegraph

bitcoin miner shares

Analysts from investing banking firm Benchmark initiated coverage on Hut 8, issuing a “buy” rating and setting a $12 target for the firm’s share price.

United States Bitcoin (BTC) miner Hut 8’s plans to expand its self-mining operations and its scope of diversified revenue streams will make it more competitive in a post-halving world, according to investing banking firm Benchmark.

In an April 22 research note viewed by Cointelegraph, Benchmark senior analyst Mark Palmer explained that the “new HUT” — a firm borne out of a merger between the “old HUT” and US Bitcoin Corporation — boasted a “diversified business model” with multiple revenue streams.

Benchmark initiated coverage of Hut 8 stock and set a $12 price target — a near 30% increase from its current share price of $9.22, per TradingView data.

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Banks Seek to Purchase Bitcoin Directly From BTC Mining Firm Hut 8, Says CEO

April 4, 2024 Bitcoin.com

Bitcoin

Per the CEO of Hut 8, a bitcoin mining company listed on the Toronto stock exchange, major financial institutions have made inquiries to purchase bitcoin directly from the firm. Additionally, the Hut 8 executive emphasized the forthcoming halving event’s “big impact,” noting a surge in demand juxtaposed with a reduction in available bitcoins. Financial Giants […]

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