Hut 8 Mining: North Bay Mining Site Will Add 100MW Capacity in Ontario

Equity Bottom-Up

210 Views, 09 May 2022 02:25

EXECUTIVE SUMMARY

Hut 8 Mining (HUT US) is a cryptocurrency mining company headquartered in Toronto, Canada. Crypto miner has two facilities in operation: Drumheller and Medicine Hat in Alberta.
In 2017, Hut 8 Mining established a partnership with Bitfury Group to acquire, install, maintain and operate Bitcoin mining data centers in North America.
We like the company’s solid balance sheet with 6,769 BTC held as of Apr-22, the opportunity to add an extra 100MW capacity in North Bay and the acquisition of TeraGo.

detail (18-minute read)

WHAT’S TRENDING

Insights