Canadian crypto-mining company Hut 8 Mining will almost double its hashrate by the end of the year with the purchase of 11,090 new mining machines for $44 million, the company said in a press release today.
The purchase comes on the heels of a $82 million round of fundraising that the company said would help expand its crypto mining capacity.
The machines are MicroBT M30S, M30S+ and M31S models from Hong Kong-based SuperAcme Technology. They are expected to be delivered in October and fully deployed by December.
The extra capacity is set to push Hut 8’s hashrate to 2.5 exahashes per second (EH/s), increasing Hut 8’s current average production of 6.5 to 7.5 bitcoins mined a day to 14 to 16 bitcoins a day. One exahash per second means a machine can compute one quintillion calculations per second. A quintillion is a number followed by 18 zeros.