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Bitcoin Halving and Bull Season Preparation.
#Hut8 " data-hashtag="#Hut8" class="tag">#Hut8, one of the largest Bitcoin mining companies, purchased four natural gas power plants from Canada.
In the statement made by the company, it was stated that the offer for the North Bay mining facility, as well as the natural gas power plants in Ontario, was accepted. It was noted that the four power plants purchased had a total capacity of 310 megawatts (MW). A facility of this capacity can operate approximately 100 thousand mining devices.
While the offer amount was not disclosed, court approval is awaited for the agreement. It is thought that the acquisition will be completed by January.
#Hut8 " data-hashtag="#Hut8" class="tag">#Hut8 CEO Jaime Leverton emphasized that the acquisitions are part of the company's vision to scale its operations both quickly and cost-effectively. Leverton also added that idle infrastructure and devices can be used with new power plants. On the other hand, in addition to its mining activities, it will also help the company sell energy to the market and provide high processing power support required for artificial intelligence.
It is noteworthy that this move of #Hut8 " data-hashtag="#Hut8" class="tag">#Hut8 came while the block reward halving was approaching and the market was in an upward cycle. The development was interpreted as preparation for the company to remain in a competitive position after the halving and to maximize profitability in a possible upward scenario.
Recently, mining companies' steps to increase capacity and purchase new devices have accelerated. Recently, Riot signed a 290 million dollar agreement to purchase 66 thousand devices. Many large companies, from #CleansPark to Iris Energy, have purchased tens of thousands of new devices in recent months.
$BTC $ETH $BNB
#Hut8 " data-hashtag="#Hut8" class="tag">#Hut8, one of the largest Bitcoin mining companies, purchased four natural gas power plants from Canada.
In the statement made by the company, it was stated that the offer for the North Bay mining facility, as well as the natural gas power plants in Ontario, was accepted. It was noted that the four power plants purchased had a total capacity of 310 megawatts (MW). A facility of this capacity can operate approximately 100 thousand mining devices.
While the offer amount was not disclosed, court approval is awaited for the agreement. It is thought that the acquisition will be completed by January.
#Hut8 " data-hashtag="#Hut8" class="tag">#Hut8 CEO Jaime Leverton emphasized that the acquisitions are part of the company's vision to scale its operations both quickly and cost-effectively. Leverton also added that idle infrastructure and devices can be used with new power plants. On the other hand, in addition to its mining activities, it will also help the company sell energy to the market and provide high processing power support required for artificial intelligence.
It is noteworthy that this move of #Hut8 " data-hashtag="#Hut8" class="tag">#Hut8 came while the block reward halving was approaching and the market was in an upward cycle. The development was interpreted as preparation for the company to remain in a competitive position after the halving and to maximize profitability in a possible upward scenario.
Recently, mining companies' steps to increase capacity and purchase new devices have accelerated. Recently, Riot signed a 290 million dollar agreement to purchase 66 thousand devices. Many large companies, from #CleansPark to Iris Energy, have purchased tens of thousands of new devices in recent months.
$BTC $ETH $BNB
