Bitcoin
Bitcoin (BTC)
$68,849.00 -0.15469
Bitcoin price
Ethereum
Ethereum (ETH)
$3,924.33 3.3907
Ethereum price
BNB
BNB (BNB)
$604.05 0.73553
BNB price
Solana
Solana (SOL)
$168.01 2.68876
Solana price
XRP
XRP (XRP)
$0.5331530 -0.01753
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000255 4.22024
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000167 5.44197
Pepe price
Bonk
Bonk (BONK)
$0.0000374 5.13091
Bonk price
Bitcoin
Bitcoin (BTC)
$68,849.00 -0.15469
Bitcoin price
Ethereum
Ethereum (ETH)
$3,924.33 3.3907
Ethereum price
BNB
BNB (BNB)
$604.05 0.73553
BNB price
Solana
Solana (SOL)
$168.01 2.68876
Solana price
XRP
XRP (XRP)
$0.5331530 -0.01753
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000255 4.22024
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000167 5.44197
Pepe price
Bonk
Bonk (BONK)
$0.0000374 5.13091
Bonk price
Bitcoin
Bitcoin (BTC)
$68,849.00 -0.15469
Bitcoin price
Ethereum
Ethereum (ETH)
$3,924.33 3.3907
Ethereum price
BNB
BNB (BNB)
$604.05 0.73553
BNB price
Solana
Solana (SOL)
$168.01 2.68876
Solana price
XRP
XRP (XRP)
$0.5331530 -0.01753
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000255 4.22024
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000167 5.44197
Pepe price
Bonk
Bonk (BONK)
$0.0000374 5.13091
Bonk price
Bitcoin
Bitcoin (BTC)
$68,849.00 -0.15469
Bitcoin price
Ethereum
Ethereum (ETH)
$3,924.33 3.3907
Ethereum price
BNB
BNB (BNB)
$604.05 0.73553
BNB price
Solana
Solana (SOL)
$168.01 2.68876
Solana price
XRP
XRP (XRP)
$0.5331530 -0.01753
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000255 4.22024
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000167 5.44197
Pepe price
Bonk
Bonk (BONK)
$0.0000374 5.13091
Bonk price
SirWin
SirWin
SirWin

Hut 8 shuts down Bitcoin mining site in Canada, citing energy costs

bitcoin-mining-canada-hut-8
Edited by
News
Hut 8 shuts down Bitcoin mining site in Canada, citing energy costs

Mining company Hut 8 is shutting down its Bitcoin mining platform in Drumheller, Alberta, Canada.

According to a Hut 8 report from Mar. 6, the platform will be shut down due to power outages and rising prices. Currently, Drumheller mines about 1.4% of Bitcoin (BTC) and spends about 11% of its hash rate.

“We have determined that the profitability of Drumheller has been impacted significantly by various factors, including elevated energy costs and underlying voltage issues.”

Asher Genoot, Hut 8 CEO

The company admits that the center’s activities may resume in the future. Hut 8 will retain the lease on the property and the value of the opportunity to reopen the property if market conditions improve.

Last week, Hut 8 announced the start of construction of a Bitcoin mining center in Culberson County, Texas, with an expected hashrate of 3.6 EH/s. The construction of a facility site is scheduled to be less than $275,000 per MW, representing more than 40% savings or approximately $18.5 million in upfront development costs per every 100 MW expansion.

In February, the company’s Bitcoin production decreased compared to January. Last month, Hut 8 mined 292 BTC compared to 339 BTC in January. The firm held 9,110 BTC at the end of the month. Similar dynamics were observed among other large miners, including Marathon Digital, Riot Platforms, and Bitfarms.

The decline in the percentage of BTC production of these companies ranged from 16% to 23% from month to month.