Hut 8 Purchases $30M Worth of Nvidia’s GPU Miners, Looks to Push Capacity to 1,600 Gigahash – Mining Bitcoin News

On Friday, the publicly listed agency Hut 8 introduced the acquisition of $30 million price of Nvidia’s devoted crypto mining GPUs known as the Cryptocurrency Mining Processor (CMP). Nvidia CMPs mine the crypto asset ethereum and Hut 8 expects its combination operational energy might be 1,600 gigahash.

Hut 8 Purchases $30 Million Worth of Nvidia’s Dedicated GPU Miners

On the heels of becoming a member of Foundry’s U.S. bitcoin mining pool, the agency Hut 8 Mining (TSX: HUT) revealed it has bought $30 million price of Nvidia CMPs. The Nvidia CMP HX product is described as a “devoted GPU for skilled mining.”

Hut 8 Purchases $30M Worth of Nvidia's GPU Miners, Looks to Push Capacity to 1,600 Gigahash

Nvidia’s net portal additionally particulars that the miner helps mining on the Ethereum (ETH) community and claims to be optimized for top efficiency. Nvidia CMPs provide 4 totally different variations which embrace the 30HX, 40HX, 50HX, and 90HX. The prime Nvidia CMP claims to acquire 86 MH/s whereas the low-end model does round 26 MH/s.

Hut 8 particulars that with the acquisition of the brand new Nvidia CMPs, the corporate will get “roughly 1,600 gigahash” and miner various blockchains. The agency goals to increase its mining enterprise whereas “sustaining the profit of payouts in bitcoin.”

Hut 8’s Bold Moves

The CEO of Hut 8, Jaime Leverton, stated that the corporate seems to be ahead to including the brand new CMPs to the fleet. The Hut 8 govt hopes the acquisition will enable the mining operation to proceed “long- and short-term plans for elevated and diversified income streams.”

“The adoption and the event of functions interacting with numerous blockchain networks have by no means been stronger, opening many potentialities throughout a range of industries,” Leverton stated.

Hut 8 refers to the acquisition as a “daring transfer” as the corporate has invested in an ideal quantity of bitcoin miners in current instances. In June 2020 the corporate introduced the acquisition of 275PH/s of mining capacity.

The following month it was revealed that the fund supervisor Fidelity International holds a stake in Hut 8. However, earlier than the crypto bull run took off, in August the Canadian miner reported that second-quarter income dropped compared to the yr prior.

What do you consider Hut 8 buying $30 million price of Nvidia CMPs? Let us know what you consider this topic within the feedback part beneath.

Tags on this story
@intocryptoverse, $10 Million in BTC, Bitcoin, BTC, ETH, ETH mining, Ethereum, Ethereum (ETH), Ethereum mining, GPU, Hut 8, Hut 8 Mining, mining, Mining Operations, Nvidia, Nvidia CMPs, Nvidia Corporation

Image Credits: Shutterstock, Pixabay, Wiki Commons, Nvidia CMP web site,

Disclaimer: This article is for informational functions solely. It is just not a direct provide or solicitation of a suggestion to purchase or promote, or a suggestion or endorsement of any merchandise, companies, or corporations. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the creator is accountable, instantly or not directly, for any injury or loss prompted or alleged to be brought on by or in reference to the use of or reliance on any content material, items or companies talked about on this article.

Recommended For You

About the Author: Daniel