TORONTO, May 28, 2021 /CNW/ - Hut 8 Mining Corp.
(TSX: HUT) ("Hut 8" or the "Company"), one of North America's oldest and largest
innovation-focused digital asset mining pioneers, is thrilled to
announce its latest hosting partnership with Enterprise Blockchain
transaction processor, TAAL Distributed Information Technologies
Inc. (CSE: TAAL).
Hut 8 will provide physical hosting and optimization services
and access to competitive electrical power for 960 newly-purchased
digital hashing computers owned by TAAL. Hut 8 will also work with
TAAL to make their existing fleet more efficient. Under the terms
of this deal, TAAL will have 960 hashing computers, using 3.2 MW of
Hut 8 power.
Hut 8's hosting and optimization services include equipment
sourcing and logistics management, white-glove installation, a
dedicated Client Success Manager (CSM), and 24/7 physical security
and technical operation teams dedicated around-the-clock at each
site.
"At Hut 8, we are focused on diversifying our revenue-generating
business model and creating catalysts for growth." said CEO of Hut
8, Jaime Leverton. "Strengthening
our existing hosting services line of business with strategic
partners is a growth focus for the Company as we continue to
see more institutional players expand their investments in digital
asset mining. We strive to offer our partners a best-in-class North
American-based option for their hosting needs."
TAAL operates exclusively on the BitcoinSV blockchain to support
its blockchain transaction processing business. With this new
hosting partnership, TAAL expects its hash rate to be at least 450
PH/s, well ahead of its stated goals of anticipating winning at
least 30 BitcoinSV blocks per day attributed to TAAL.
"We are very pleased to be working with Hut 8, as we both share
a dedication to excellence and having aligned core values of
limiting our impact on the environment," comments Stefan Matthews, TAAL Executive Chairman, and
Chief Executive Officer.
About TAAL:
TAAL Distributed Information Technologies Inc. delivers
value-added blockchain services, providing professional-grade,
highly scalable blockchain infrastructure and transactional
platforms to support businesses building solutions and applications
upon the BitcoinSV platform, and developing, operating, and
managing distributed computing systems for enterprise users.
Visit TAAL online at www.taal.com
About Hut 8:
Hut 8 is one of North America's
oldest, largest and innovation-focused bitcoin miners. Hut 8 has
one of the highest installed capacity rates in the industry and is
#1 globally in held, self-mined Bitcoin of any crypto miner or
publicly traded company. Recently ranked 11th (of 10,000) on the
2021 OTCQX® Best 50, and the first publicly traded miner on the
TSX, the Hut 8 leadership team is continually looking for ways to
accelerate innovation in high performance computing, and the
blockchain ecosystem. We are stewards of powerful, industry-leading
solutions, and drivers of innovation in digital asset mining and
high performance computing. – Hut 8 applies a growth mindset to our
revenue diversification, ESG and carbon footprint reduction
strategy. We are a company committed to growing shareholder value
regardless of #BTC market direction. #HodltheHut.
SOURCE Hut 8 Mining Corp