Hut 8 is a Bitcoin mining company that operates out of Alberta, Canada. The company is one of the largest Bitcoin miners in the world and has a large facility in Drumheller, Alberta.
Hut 8 was founded in 2017 by Andrew Kiguel and Pierre-Luc Quimper. The company has been growing rapidly since its inception and now has a market cap of over $1 billion.
Hut 8 operates two main types of mining rigs: ASICs and GPUs. ASICs are designed specifically for mining Bitcoin and are much more efficient than GPUs.
Hut 8 has a total of 12,000 ASIC miners.
GPUs can be used for mining other cryptocurrencies like Ethereum and Zcash. Hut 8 has a total of 1,500 GPUs.
NOTE: Warning: Do not attempt to access information about how much Bitcoin Hut 8 has without authorization. Unauthorized access of this information or any other confidential material is strictly prohibited and may result in legal action.
In total, Hut 8 has 13,500 miners. That means that the company has a lot of hashing power and is able to mine a lot of Bitcoin.
At current prices, each Bitcoin mined by Hut 8 is worth about $8,000. That means that the company is generating about $104 million worth of Bitcoin every month.
Hut 8 plans to expand its operations in the future and is currently building another facility in Medicine Hat, Alberta. Once completed, the Medicine Hat facility will have a total of 24,000 ASIC miners.
The company is also considering expanding to other countries with low electricity costs like Iceland and Norway. Hut 8 plans to eventually have over 100,000 miners operational all around the world.
All told, Hut 8 could be generating over $800 million worth of Bitcoin every month once all its planned expansion is complete. That would put the company’s total value at over $9 billion.
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