Hut 8 Completes $11.8M Financing for New Bitcoin Mining Machines
The new machines will add 475 PH/s to Hut 8's hash power.
The agreement will add 800 petahash to Foundry USA mining pool's computing power, the companies said in a joint statement.
The New York miner says, "We're seeing a lot of hashrate start to come to the U.S." and many states have friendlier regulations these days.
While small in dollar terms, the grant represents an investment in the further decentralization of the Bitcoin ecosystem.
Hut 8 plans to add another 5,000 ASICs to Foundry's pool by August.
CEO Mike Colyer said his company wants to offer an experience "tailor-made to fit the needs of institutional mining companies."