Hut 8

The trend of falling hash price will force weaker miners to unplug, find more efficient energy sources and/or sell off machines or bitcoin holdings.

A representative of Hut 8 mining discusses the “extremely disruptive” introduction of a new ASIC chip from Intel.

The bitcoin miner added 276 BTC to its holdings in December after mining 8.9 BTC per day that month.

Five public miners produced a total of 1,475 bitcoin in November, worth nearly $80 million.

The Canadian miner has deposited all the BTC it mined into custody and now holds 5,242 in reserve.

Publicly-traded bitcoin mining firms have been accumulating and holding bitcoin at an increasing rate.

Shares of publicly-traded bitcoin mining companies continue to outperform, with many of them up big this week.

North American bitcoin mining company Hut 8 has purchased 11,090 rigs for $44 million to complement an earlier purchase of 863 machines.

As one of North America’s largest institutional bitcoin mining operations, Hut 8 is bringing 14,400 mining rigs to the U.S.-based pool.

Hut 8 turned to Foundry Digital for $11.8 million in financing and access to 5,400 new MicroBT Whatsminer M30S mining rigs.