Bitfury to set up largest mining centre in North America

Hut 8 Mining corp. and Bitfury will set up largest Bitcoin mining datacenters in North America
05 December 2017   839

Hut 8 Mining Corp. announced on Monday that it has partnered with the Bitfury Group to acquire, install, maintain and operate North America’s largest bitcoin mining datacenters.

Hut 8 is a bitcoin mining company led by CEO Sean Clark that gives shareholders access to the price appreciation of bitcoin and the emerging blockchain economy.

We are excited to partner with Hut 8 to expand our activities in the strategic North America market. We believe there is a tremendous opportunity to establish North America as one of the most important crypto-currency mining hubs in the world.


Valery Vavilov

CEO, Bitfury

Under the partnership, Bitfury will provide to Hut 8 a bitcoin mining solution comprised of a proprietary mix of hardware, software, installation and operational services.

Hut 8 intends to scale rapidly during 2018 with installed capacity set to exceed 60 MW. Hut 8 also maintains the exclusive option to get additional datacenters from Bitfury in North America.

Now, Hut 8 is offering approximately 13,200,000 shares on a private placement basis through GMP Securities L.P. Investors have the option of purchasing shares in this private placement round with bitcoin.

Largest mining farm to be built in the UK

The well-known UK tech company Bladetec is building the first large Bitcoin mining farm in Europe
20 March 2018   165

Bladetec had already got an experience in IT support for NATO and the Ministry of Defence of the UK in the past. Today its idea is funded by investors in a limited company which is protected by UK law.

The facility - Third Bladetec Bitcoin Mining Company (TBBMC), situated on the Southeast of the country, is going to cover 3,500 square feet in three different places: in London, Suffolk and Surrey.

Today the company is raising £10 million from investors for building and operating the farm for up 2 years. The farm will become global and significant, also it is supposed to be introduced in the world`s top 25 and produce considerable return for shareholders (as a result of its dominant position).

The minimum investment to TBBMC project set by the company is £ 5,000 from each applicant. The project allows the capital growth up to even 45 % within a period of 2-3 years. The returns for the shareholders at that stage would be based on the Bitcoins sales`proceeds and the ASIC machines. If the price of Bitcoin does drop by 40 %, an investor may lose 22 % of his capital.

The company declared that it is going to mine 1,280 bitcoins within a period of two years. Nowadays it's difficult to predict how much those Bitcoins may be worth in two years. According to current prices, they will be valued at £ 7,8 million. But the situation may probably change before 2021. As for the raised funds, they would mostly be spent on the energy costs, despite the low energy bills' agreement between Bladetec company and the intended wind farm.

Bitcoin mining is more popular in the countries where the weather is cold (such as Iceland and China). The government of Iceland can implement a tax on mining because of the energy consumption. Chinese authorities insists on the ending of the cryptocurrency trading and mining in the country.