Miner Hut 8 raised $ 8.3 million and refused to purchase equipment …

Miner Hut 8 raised $ 8.3 million and refused to purchase Bitfury equipment

Canadian mining company Hut 8 attracted $ 8.3 million by selling a six percent share in the share capital. The result exceeded the initial target by $ 800 000, writes CoinDesk.

Miner Hut 8 raised $ 8.3 million and refused to purchase equipment ...

how declare in Hut 8, this funding will help them stay competitive, then time how smaller companies with older equipment found themselves stranded of-for last month’s halving.

Miner Hut 8 raised $ 8.3 million and refused to purchase equipment ...

“We are proud themes, that they were able to close the first prospectus as a Canadian cryptocurrency company, and continue to secure leading position as one of the largest listed on exchange miners bitcoin“, – reported CEO Hut 8 Jimmy Wyopoulos.

Funding received will be used for purchasing new equipment. The company said it will be able to increase computing power more than a fifth up to 1,150 PH / s. At the same time, Hut 8’s share general hash bitcoin will approach 1%.

In April 2018, Hut 8 shares traded at $ 3.28 per unit. IN this march their price reached historical minimum about $ 0.43, and now it is $ 0.72. Q4 2019 of the year the company’s loss reached $ 116.6 million.

Low performance his business Hut 8 connects with the agreement she had with its largest investor by Bitfury. By conditions of this agreement, Hut 8 could enjoy only Bitfury equipment and because didn’t have access to faster competitor devices.

In January, the agreement It was changed so that now Hut 8 can purchase equipment from any company. Own choice it already made in favor of MicroBT. Most of the supplies new equipment is expected from July to November.