Hut 8 Mining's digital asset mining operations to be 100% self-mined

Hut 8 Mining (NASDAQ:HUT) entered into an agreement with TAAL to conclude its hosting relationship and purchase 960 MicroBT Whatsminer M31S+ effective May 1, 2022. ASIC miners are currently installed and running at the company's mining facility in Medicine Hat on behalf of TAAL. The machines are expected to provide an immediate incremental hashrate of 81 PH/s, bringing Hut 8's total hashrate to 2.62 EH/s. Post the acquisition, Hut 8's operations at all mining sites will be 100% allocated to self-mining. "Over the past 18 months, we have pursued a strategy that is unique among our peer group: in addition to digital asset mining, we support clients with high performance computing, cloud hosting, and collocation services at our five Canadian data centres so they can succeed in the burgeoning Blockchain and Web 3.0 industries," CEO Jaime Leverton commented.