Hut 8 Mining Corp, one of North America’s largest institutional crypto investors, has announced a hosting agreement for approximately 6,400 ASIC miners. These miners were previously located at the company’s North Bay site and will now be energized in Texas in late July.

The relocation of these miners will provide Hut 8 with approximately 600 PH/s of additional installed operating capacity, increasing their total installed hashrate to approximately 3.2 EH/s. The hosting agreement includes a 3-month initial term that will renew for successive one-month periods unless terminated by either party with 30 days’ notice.

This move comes as Hut 8 has been actively pursuing options to operationalize the bulk of the miners installed at the North Bay site. They had previously energized an additional 988 miners at the Hut 8 Medicine Hat facility in March 2023.

Hut 8 is revolutionizing the digital asset mining industry with their innovative approach. As one of North America’s largest digital asset miners, they have high capacity rates and a significant inventory of self-mined Bitcoin. Their data centers are powered by renewable and emission-free resources, making them a sustainable choice for institutional investors.

It’s important to note that forward-looking information was included in this press release, outlining potential risks and uncertainties that could affect Hut 8’s operations. This includes factors such as security threats, regulatory changes, geopolitical events, and the impact of the COVID-19 pandemic.

Overall, Hut 8’s hosting agreement for ASIC miners highlights their commitment to expanding their mining operations and increasing their hashrate. This move positions them as a significant player in the institutional crypto investment space.