Canadian Bitcoin mining company HUT 8 invests $ 30 million in new CMPs by NVIDIA

Canadian Bitcoin mining company HUT 8 invests $ 30 million in new CMPs by NVIDIA
  • One of the oldest and largest Bitcoin miners in the world complements the arsenal with the purchase of $ 30 million worth of NVIDIA CMPs.

As you’ve probably noticed, NVIDIA has started producing new professional mining cards called CMP this year, and demand seems to be escalating.

The latest proof of this is Hut 8 Mining Corp., which is also considered one of the largest Bitcoin mining companies in the world.

HUT 8 reported that it has recently purchased NVIDIA CMPs worth a total of $ 30 million, which will be delivered to them as early as May 2021. As for the full deployment of these cards, it is expected to be during this summer.

As for the overall operating speed, the delivery of CMPs should increase the speed by approximately 1600 Gigahash which the company itself considers a drastic increase.

Hut 8 also adds that CMPs will be used “to mine alternative blockchain networks and expand its mining business while maintaining the benefit of payouts in Bitcoin.”

Jaime Leverton, CEO of Hut 8, is excited about this move and stated:

The adoption and the development of applications interacting with various blockchain networks have never been stronger, opening many possibilities across a variety of industries,

We are incredibly excited to have these high performance CMPs in our fleet. We believe mining with CMPs will open up new opportunities for Hut 8 and will allow us to continue to execute on our long- and short-term plans for increased and diversified revenue streams.

Let’s also recall the performance of specific NVIDIA CMPs. The lowest class CMP 30HX offers 26 MH / s, CMP 40HX 36 MH / s, CMP 50HX 45 MH / s and the strongest class CMP 90HX, which also Hut 8 probably bought, has an output of up to 86 MH / s.

Read also: NZ Funds, which manages over $ 2.0 billion of New Zealanders’ savings, has invested in Bitcoins

Share Tweet Send
You've successfully subscribed to CCnews24
Great! Next, complete checkout for full access to CCnews24
Welcome back! You've successfully signed in
Success! Your account is fully activated, you now have access to all content.