Hut 8 Purchases 31,000 Bitcoin Mining Machines, Projecting 66% Increase in Hash Rate

Bitcoin miner Hut 8 has announced that it expects its mining hash rate to increase by 66% around the first quarter of 2025.
This comes after Hut8 agreed to purchase 31,145 Bitmain Antminer S21+ machines. According to the announcement, Hut8 will
The mining machines will be purchased for $15 per terahash and are scheduled for delivery in early Q1 2025. Once these machines are installed, Hut 8’s on-site mining hash rate will currently be
It is expected to increase from the current 5.6 exahashes (EH/s) to around 9.3 EH/s, a 66% increase.
The company has signed a purchase option agreement to add additional EH/s. If this option is exercised, Hut8’s hash rate will reach 24 EH/s at the beginning of Q2 2025.
Following the halving event in April 2024, major bitcoin mining providers have been purchasing new equipment to boost their hash rates.
Hut8 CEO Asher Genoot explained why they chose Bitmain's Antminer's S21+ model: "It requires less capital than more efficient models."
"The S21+ offers a faster payback period under various future hash price scenarios, optimizing return on investment and increasing value creation," he explained.
"This can accelerate the process," he added.