Hut8 will build a Bitcoin mining farm in Texas

Miami-based fintech company Hut 8 announced that it will build a mining rig with a hashrate of 3.6 EH/s in Culberson County, Texas.

Building the 63 MW facility on its own will cost the company 40% less than buying it, said Hut 8 chief executive Asher Genuth.

It is planned to spend $17 million on the creation of the facility.. The cost of mining Bitcoin at the new farm will be 30% cheaper than at the company’s currently operating data centers in Granbury County (Texas) and Kearny County (Nebraska).

The company currently has 9,195 bitcoins on its balance sheet. At the end of last year, the Canadian Hut 8 Mining completed the merger with the American US Bitcoin (USBTC) and received registration in Florida.

Previously, the Texas Blockchain Council and Riot Platforms obtained a positive decision from the Western District of Texas court in a case against the US Department of Energy, the Energy Information Administration (EIA) and the Office of Management and Budget (OMB).