Sunday, June 16, 2024

Bitcoin miner Hut 8 says Salt Creek site fully energized, shares up

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Cryptocurrency mining rigs in a data center

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Bitcoin miner Hut 8 (NASDAQ:HUT) Monday reported that 63 MW was brought online at Salt Creek on schedule, with all-in cost expected to total less than $275,000 per megawatt pending completion of the project.

HUT shares climbed +3.75% premarket to $8.58.

The company has also partially energized Ionic Digital’s 215 MW Cedarvale site, with thousands of miners currently hashing and construction ongoing, it said in a statement.

“At Salt Creek, we energized 63 megawatts, totaling nearly 18,000 miners, just over three months after breaking ground at the greenfield site, which brings our current self-mining hashrate to 5.5 exahash per second,” said Asher Genoot, CEO of Hut 8 (HUT).

“The miners deployed at Salt Creek were relocated from Kearney and Granbury, with operations of those sites now fully transitioned to the new owner.”

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