{"id":45104,"date":"2021-06-28T18:06:12","date_gmt":"2021-06-28T15:06:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=45104"},"modified":"2025-08-31T20:07:26","modified_gmt":"2025-08-31T17:07:26","slug":"hut-8-forecasts-fivefold-growth-in-its-own-hashrate","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/hut-8-forecasts-fivefold-growth-in-its-own-hashrate\/","title":{"rendered":"Hut 8 forecasts fivefold growth in its own hashrate"},"content":{"rendered":"<p>The hashrate of Hut 8 Mining, listed on Nasdaq, is forecast to rise by year-end from the current 1.2 EH\/s to 2.5-3 EH\/s, and by mid-2022 to 6 EH\/s. Such estimates are laid out in the mining company&#8217;s updated production plan.<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">UPDATE\u26a1\ufe0f: HUT 8 GOALS<br \/>?5,000 Self Mined <a href=\\\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BTC<\/a> by end of Q4 2021<br \/>?2.5-3.0 E\/H by end of 2021<br \/>?6.0 E\/H by mid 2022<br \/>?Opportunistic deals directly with mining hardware vendors<br \/>?Build out of 100 MW facility @ <a href=\\\"https:\/\/twitter.com\/search?q=%24C&#038;src=ctag&#038;ref_src=twsrc%5Etfw\\\">$C<\/a>:0.027\/kwh all inclusive. <a href=\\\"https:\/\/twitter.com\/Hut8Mining?ref_src=twsrc%5Etfw\\\">@Hut8Mining<\/a> <a href=\\\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&#038;ref_src=twsrc%5Etfw\\\">#BTC<\/a> <a href=\\\"https:\/\/t.co\/CmaqSY4Ojk\\\">https:\/\/t.co\/CmaqSY4Ojk<\/a><\/p>\n<p>\u2014 Hut 8 Mining (@Hut8Mining) <a href=\\\"https:\/\/twitter.com\/Hut8Mining\/status\/1409505196015853571?ref_src=twsrc%5Etfw\\\">June 28, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script><\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p><em>\u201c<\/em><a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-to-raise-c500-million-on-the-toronto-stock-exchange\"><\/a><em><em><a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-to-raise-c500-million-on-the-toronto-stock-exchange\">Capital raising<\/a><\/em><\/em><em><em> and <\/em><\/em><a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-to-raise-c500-million-on-the-toronto-stock-exchange\"><\/a><em><em><a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-debuts-on-nasdaq-and-announces-ethereum-mining-launch\">listing on Nasdaq<\/a><\/em><\/em> <em>became important milestones and laid the groundwork for the execution of production plans\u00bb<\/em>, \u2014 said Hut 8 CEO Jamie Leverton.<\/p>\n<\/blockquote>\n<p>The company aims to bring the number of bitcoins mined on its balance sheet to 5,000 BTC by year-end 2021. As of June 27, this figure stood at 3,806 BTC. Consequently, daily output would rise from 6.2-7.3 BTC to 8-10 BTC. Hut 8 estimated the all-in cost of mining a bitcoin at $3,000.<\/p>\n<p>Also among the key objectives is the completion of a 100 MW facility in the Canadian province of Alberta. To this end, the company has agreed to purchase electricity from Validus Power Corp.<\/p>\n<p>Hut 8 plans to strike direct deals with ASIC equipment manufacturers. In particular, further purchases <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-buys-nvidia-cmp-mining-gpus-for-30-million\">GPUs for the Nvidia CMP mining series<\/a> from Nvidia and <a href=\"https:\/\/u1f987.com\/en\/news\/barry-silberts-foundry-to-expand-mining-capacity-with-hut-8-equipment\">a collaboration with Foundry Digital, Barry Silbert&#8217;s<\/a>.<\/p>\n<p>According to the document, Hut 8&#8217;s Ethereum hashrate currently reached 1.218 EH\/s. The firm has installed 2,400 of 5,400 Whatsminer M30S devices, <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-takes-out-11-8-million-loan-at-16-5-to-buy-bitcoin-miners\">purchased in January 2021<\/a>.<\/p>\n<p>Earlier, Hut 8&#8217;s head of corporate development, Sue Ennis, said the company <a href=\"https:\/\/u1f987.com\/en\/news\/hut-8-debuts-on-nasdaq-and-announces-ethereum-mining-launch\">&#8220;doing everything possible&#8221;<\/a> to attract Chinese miners.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\\\"https:\/\/t.me\/forklogfeed\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog Feed<\/a> \u2014 full feed of news, <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The hashrate of Hut 8 Mining, listed on Nasdaq, is forecast to rise by year-end from the current 1.2 EH\/s to 2.5-3 EH\/s, and by mid-2022 to 6 EH\/s. Such estimates are laid out in the mining company&#8217;s updated production plan.<\/p>\n","protected":false},"author":1,"featured_media":45105,"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":[18,1137,46,1136,1306],"class_list":["post-45104","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-cryptocurrency-mining","tag-ethereum","tag-hut-8","tag-mining-ban"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45104","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=45104"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45104\/revisions"}],"predecessor-version":[{"id":45106,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/45104\/revisions\/45106"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/45105"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=45104"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=45104"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=45104"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}