Canadian Mining Company Hut 8 Reported on the Opening of the Second Enterprise


Mining company Hut 8, located in Toronto, completed the construction of the second Bitcoin mining enterprise in Canada. Having published a statement on the completion of construction on July 16, the company named itself the largest mining operator with open access.

As reported in a press release, the construction of Medicine Hat was completed earlier than planned (the company intended to complete the facility in September this year). The company’s first facility is located in the city of Drumheller.

Hut 8, founded with the support of BitFury, produced about 1900 Bitcoins in December last year when the company was launched.

The success of BitFury and Hut 8 enabled the diversification of the cryptocurrency market. Despite this, it is worth noting that China continues to lead the mining sector thanks to Bitmain. President of Hut 8, Andrew Kiguel, said:

“With 66.7 MW of aggregate operating capacity, we believe we are the largest cryptocurrency miner in Canada and the largest publicly-traded cryptocurrency miner by operating capacity in the world.”

It is reported that at this time the value of shares of Hut 8 is 2.45 dollars, while at the time of the company’s launch this figure was 4.7 dollars. Despite this, the company intends to reach a mark of 7.85 dollars.

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