Owned by Bitfury mining, the company produced 828 BTC in the first quarter of 2018

Mining company Hut 8 Mining Group, owned by the manufacturer of equipment for mining Bitfury, reported on the mining of BTC 828 in the first quarter of 2018.

The results are very impressive, given the fact that Hut 8 has started since December last year. In addition, it was additionally attracted 70 million canadian dollars (about 54.3 million USD) to invest in mining equipment. CEO Andrew Kegel (Andrew Kiguel) reported that he was satisfied with the work done.

Just at the moment, Hut 8 a little more than 1300 BTC: BTC around 500 was produced in December last year and 828 BTC in the first quarter of 2018.

Kigali said that the company continues to develop and now they have started construction of a new mining site in the city of medicine hat, which will increase the capabilities of the company more than three times. Presumably, the launch of a new mining center will be held in September this year.

«In medicine hat will be set 40 block boxes. As soon as the object is commissioned, Hut 8 57 block boxes, which will increase mining capacity by 335% and will allow us to become one of the largest bitcoin miners in the world. Increasing the number of block-boxes from 17 to 57, we will increase our mining hash rate of the network up to 448 PH/s. We are confident that Loshadka in medicine hat will become the new world standard for enterprises for the mining of cryptocurrencies industrial scale,» he said.

According to available data, mining one bitcoin costs about Hut 8 in 2615 canadian dollars. Excluding depreciation of equipment gross profit of the company amounts to almost $ 9 million.

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