Hut 8 Completes $11.8M Financing for New Bitcoin Mining Machines

The company acquired nearly 18,000 new ASICs in an all-stock transaction.

Shenzhen-based Bit Mining has started shipping bitcoin mining machines to Kazakhstan as the Chinese government cracks down on bitcoin mining operations in the country. Bit Mining Ltd., a mining company based in Shenzhen, announced Monday that “it had successfully delivered its first batch of mining machines to Kazakhstan.” The company explained that bitcoin mining machines will be delivered to Kazakhstan in three batches. The first batch consists of “320 mining machines with a theoretical maximum total hash rate capacity of 18.2 PH/s,” Bit Mining claims, noting....

Iranian police have reportedly seized 7,000 bitcoin mining machines operating illegally in the country. The machines were found in an abandoned factory west of the capital. 7,000 cryptocurrency mining machines have been seized by Iranian authorities, state news agency IRNA reported Tuesday, noting that this is Iran’s largest seizure of cryptocurrency mining machines to date. Tehran police chief General Hossein Rahimi said that the mining machines were seized at an illegal mining farm — an abandoned factory west of the capital. Cryptocurrency mining is an authorized activity in....

Over 1,000 bitcoin mining machines have been totally destroyed in Malaysia after they were seized for illegally mining the cryptocurrency using stolen electricity. The mining machines, worth about $1.26 million, were steamrolled in the Malaysian city of Miri and eight people have been arrested so far. Over a Thousand Bitcoin Mining Machines Demolished in Malaysia Malaysian authorities have completely destroyed 1,069 bitcoin mining machines confiscated between February and April with a steamroller, local media reported Friday. The mining machines were seized in a joint operation carried out....

If you have done any mining in the past you know its hot and noisy. Usually alternatives are to either get cloud mining, or pay for someone to host your hardware. Both options are valid, and really intriguing if you have to pay an especially exorbitant electricity rate or just can’t stand the noise. Before we start, it is good to know where Genitrust is today. Genitrust is a company that helps companies, investors, and ordinary people participate in the digital financing ecosystem. Our latest project is “Hashing Plex”, which is bringing equipment hosting to the masses with the goal to keep....