(TSXV: HUT) (OTCQX: HUTMF)("Hut 8" or "the Company"), one of the world's largest public
bitcoin mining companies by operating capacity and market capitalization, is pleased to announce an increase to 67 MW, an incremental 4.3 MW, to its operating facility in the City of Medicine Hat, effective August 28th, 2019.
('Hut 8' or 'the Company') (TSXV: HUT) (OTCQX: HUTMF), one of the world's largest public
bitcoin mining companies by operating capacity and market capitalization, announces its financial results for the second quarter ended June 30, 2019.
The BBC reported June 21 that 1,000
Bitcoin mining machines had been confiscated.
The news comes as authorities in Iran have been cracking down on
Bitcoin mining in recent weeks.
The nation had recently clamped down on
bitcoin mining because of its high energy needs.
The computing capacity used in this process -- known as
Bitcoin mining -- has increased rapidly in recent years.
The National Development and Reform Commission of China wants to stop
bitcoin mining in the country signaling rising government pressure on the cryptocurrency sector, Reuters' Brenda Goh and Alun John report, citing a draft list of industrial activities the agency is seeking to eliminate.
Meanwhile, (https://thenextweb.com/hardfork/2019/03/05/bitcoin-mining-revenue-increase/)
bitcoin mining margins are improving after the worst downturn.
Bitcoin mining, however, is becoming more energy efficient, said Katrina Kelly-Pitou,A researchA associate at the University of Pittsburgh.
On the contrary, the power dedicated to
Bitcoin mining has more than tripled since its peak prices, and the trend shows no sign of abating, according to the bitinfocharts site.