Two of the largest companies in Bitcoin mining have officially become one.
What’s happening:
- Toronto based Bitcoin mining company Hut8 (NASDAQ: HUT) has successfully completed their merger with US Bitcoin
- The new merger between Hut8 and US Bitcoin marks the largest merger ever in the history of Bitcoin mining companies
Why it matters:
- The newly combined entity is not only one of the largest publicly traded Bitcoin mining companies but also a significant operator in high performance computing
Going deeper:
- Hut8 now has Bitcoin mining operations in British Columbia, Alberta, Ontario, Texas, New York and New England
- Hut8 will also expand their capacity for cloud computing for artificial intelligence workloads and machine learning models at their data centres in Canada
By the numbers:
- The new combined entity has access to approximately 825 megawatts of total energy across all its data centres
- Hut8 now has 253,683 total miners across all of their operations
- The market capitalization for Hut8 now exceeds more than $2B USD
