PANews reported on November 7, according to Cointelegraph, that Bitcoin mining company Hut 8 announced the purchase of 31,145 Bitmain Antminer S21+ mining machines, expecting its self-mining hash rate to increase by 66% in the first quarter of 2025, from the current 5.6 EH/s to 9.3 EH/s. Additionally, Hut 8 had previously signed a purchase option with Bitmain for an additional 15 EH/s, which, if exercised, would further increase the company’s hash rate to 24 EH/s, potentially as early as the second quarter of 2025.
Hut 8 stated that the new mining machines will significantly improve the efficiency of the mining site, reducing the average from 31.7 J/TH to 19.9 J/TH. CEO Asher Genoot mentioned that the S21+ mining machines have an advantage in return on investment, achieving faster returns across various hash rate pricing scenarios.
