Hut 8, based in the City of Vancouver, announced that it will deploy "the largest data centers dedicated to Bitcoin mining in North America." This ambitious initiative is part of a partnership with Bitfury, a mining company. This will provide him with the computer equipment and software necessary to conduct this activity, and will also provide him with maintenance services. The establishment of these centers should take place in 2018.
"The largest mining farm in North America"
In a December 4 statement, Hut 8 unveiled details of a two-phase plan - a plan that could eventually lead to dominating the US mining sector.
The project should begin with the acquisition of 22 data centers. They will allow this British Columbia-based company to rely on hashing power of more than 1651 PH / s.
The second phase is conditional on an IPO on the Canadian Stock Exchange. The company offers 13.2 million shares for approximately 33 million Canadian dollars (or 22 million euros). This new funding should enable it to deploy another 35 data centers, giving it 262.5 PH / s of additional power.
"Bitfury's market shares, unused computing power and our ability to" scaler "- with a board of directors that former hedge fund manager Michael Novogratz and well-known venture capitalist Bill Tai have both agreed to join - all this will allow Hut 8 to enjoy a very important competitive advantage in this market. "
Considerable resources are now allocated to mining
The agreement that has been established provides for the Canadian company to order its data centers - in other words, its Bitcoin mines - only from Bitfury.
If it succeeds in obtaining the expected financing, Hut 8 will be at the head of the largest mining activity in North America, with more than 60MW of productive capacity.
Bitfury is a supplier of ASIC chips, which are used to design "mining rigs". The company is behind BlockBox, refrigerated mobile data centers:
This news seems to illustrate the path taken by the bitcoin mining sector, which has become highly professionalized. While it was still possible a few years ago to harvest Bitcoins using a simple laptop, we now witness the emergence of large pools, which clash on the Bitcoin network.
It must be said that the "difficulty of mining", which measures the degree of difficulty related to obtaining a reward of mining, has considerably increased since the beginning of Bitcoin, in January 2009:
While new farms are expected to open soon in Russia, Northern Europe and North America, and some companies in the country are currently seeking to relocate their business, China's domination of the sector may soon be term.
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