{"id":35224,"date":"2021-01-22T20:41:48","date_gmt":"2021-01-22T18:41:48","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35224"},"modified":"2025-08-29T00:17:03","modified_gmt":"2025-08-28T21:17:03","slug":"hut-8-takes-out-11-8-million-loan-at-16-5-to-buy-bitcoin-miners","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hut-8-takes-out-11-8-million-loan-at-16-5-to-buy-bitcoin-miners\/","title":{"rendered":"Hut 8 takes out $11.8 million loan at 16.5% to buy Bitcoin miners"},"content":{"rendered":"

Canadian mining firm Hut 8 \u0441\u043e\u043e\u0431\u0449\u0438\u043b\u0430<\/a>, that it has completed securing a loan to finance the equipment purchase of $11.8 million from Foundry, a subsidiary of Digital Currency Group (DCG) led by Barry Silbert.<\/p>\n

The Hut 8 loan carries an annual rate of 16.5% for 12 months.<\/p>\n

In addition to the funds provided by Foundry, Hut 8 will make a deposit of $2.9 million to pay for an order of 5,400 Whatsminer M30S ASIC miners from MicroBT. DCG’s subsidiary became a partner of the Chinese manufacturer last year.<\/p>\n

The Canadian company expects to roll out the first batch of the new devices by the end of January. Deliveries are expected within six months.<\/p>\n

Once the full order is placed, the company\u2019s mining capacity will increase by 475 PH\/s. The current hash rate stands at 1,039 PH\/s.<\/p>\n

Hut 8 noted that amid a shortage of mining equipment manufacturers have begun requiring upfront payments of 50% to 100% for orders. The partnership with Foundry helps address access to next-generation equipment, the firm said in a press release.<\/p>\n

\n

\u201cOur partnership is based on an unwavering commitment by Hut 8 to overcoming equipment-supply constraints and reducing capital expenditures through a proactive strategy of managing the mining fleet to achieve a balanced portfolio of both new-generation models and high-yield older-generation models,\u201d said Hut 8 CEO Jamie Leverton.<\/p>\n<\/blockquote>\n

In the context of Foundry\u2019s acquisition, DCG agreed to invest<\/a> $100 million in it during 2021.<\/p>\n

Earlier, Hut 8 raised $8.3 million through an equity stake sale to fund purchases of miners from MicroBT.<\/p>\n

Subscribe to Forklog\u2019s channel on YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian mining firm Hut 8 said it had completed securing a loan to finance equipment purchases of $11.8 million from Foundry, the Digital Currency Group (DCG) subsidiary led by Barry Silbert.<\/p>\n","protected":false},"author":1,"featured_media":35225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[771,1137,1136,1728],"class_list":["post-35224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-canada","tag-cryptocurrency-mining","tag-hut-8","tag-microbt"],"aioseo_notices":[],"amp_enabled":true,"views":"22","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35224"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35224\/revisions"}],"predecessor-version":[{"id":35226,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35224\/revisions\/35226"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35225"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35224"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}