Crypto mining company Hut 8 announces the closure of its factory in Drumheller, Alberta, Canada
Cryptocurrency mining company Hut 8 has announced the closure of its factory located in Delaney, Alberta, Canada. Delaney will immediately stop operating as a Bitcoin mining facility. Efficient mining machines, equivalent to about 130 PH/s of computing power, will be transferred to Medicine Hat and activated in March, while old and inefficient mining machines will be retired. The transfer of efficient mining machines and retirement of inefficient mining machines will improve Hut 8's cash flow and reduce Bitcoin mining costs, with an expected increase of about 11% in the amount of Bitcoin that can be mined per EH.
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