Mining Corporation Hut 8 and multidisciplinary blockchain company Bitfury Group has announced the agreement for the purchase, installation, maintenance and further operation of North America’s largest datacenters for mining.
Bitfury Group will provide Hut 8 solutions for bitcoin mining, consisting of proprietary hardware, software, services for installation and maintenance.
— This partnership speaks to the growing demand for investments in the blockchain in North America, — said General Director of Hut 8 Sean Clark. — Market share Bitfury Group, unmatched computing power, the ability to scale in conjunction with the Board of Directors, which includes former Manager of hedge Fund Michael Novogratz and the famous venture capitalist bill tai, Hut 8 gives a tremendous advantage in a competitive market.
We are glad to cooperate with Hut 8, which will allow us to expand activities in the strategically important North American market, — said General Director of Group Bitfury, Valery Vavilov. — We believe there is every chance that North America will become one of the most important centres for the mining of cryptocurrencies in the world.
Starting in 2011, Bitfury Group is the largest outside of China industrial miner, occupying about 11% of the market. The company manufactures its own chips, application specific integrated circuits (ASIC) that increase productivity, take up less space, reduce costs. Portable data center, developed by Bitfury Group, BlockBox AC greatly reduces the setup time required to create a effective bitcoin mining on a commercial scale.
Thanks to a partnership from Hut 8 shows the largest farm mining of cryptocurrencies in North America. In the first stage, Hut 8 will have direct control over 22 data centers for Bitcoin mining, working with a capacity of 24.2 MW, and performance 165 RN/sec. it is Expected that phase II will be completed in the first quarter of 2018, when they host a public offering of shares on a canadian stock exchange, Hut 8 will have control over an additional 35 centers, working at the level of 38.5 MW and 262.5 PH/s.
Thanks to a combination of new and existing data centers Bitfury Group, Hut 8 plans to quickly increase its overall performance. According to the plan, the figure for 2018 it is planned to be raised to 60 MW and above. Hut 8 also reserves the right to purchase additional data centers Bitfury Group in North America.
Starting today, Hut 8 provides approximately 13 200 000 shares through private placement via GMP Securities L. P., with a total value of CAD 33 000 000. Revenue received during the offering will be used to provide the first phase of financing transaction described above.
Investors have the opportunity to buy shares with bitcoins.
About Bitfury Group
Bitfury Group is a diversified blockchain company, a developer of software and hardware to work with bloccano. Bitfury Group is an international team of experts in technology, business, communications, security and civil society. Bitfury Group has launched Exonum blockchain platform that helps people, businesses and governments to safely and easily implement their ideas and solutions блокчейнt in life.
About Hut 8
Hut 8, the company involved in bitcoin mining, led by CEO Sean Clarke, which gives shareholders access to assessment of bitcoin and the emerging economy of the blockchain. The Board of Directors of Hut 8 included Michael Novogratz, George Kikvadze, bill tai, mark van der Chiya and Valery Vavilov.