Hut 8 Mining purchases 12K new MicroBT miners for delivery commencing January 2022

Hut 8 Mining (NASDAQ:HUT) trades 1.5% down premarket after it executed on a $58.7M purchase of 12K new MicroBT M30S, M30S+ and M30S++ miners from Inchigle Technology Hong Kong, representing a cost of ~$50/Terahash, with total incremental production of 1.17 EH/s. The miners are expected to be delivered starting in January 2022, at a delivery rate of ~1K machines per month, with full deployment anticipated by December 2022. The expected production capacity increase of this purchase on full deployment, alongside earlier announced investments, brings Hut 8's total contracted capacity to ~3.57 EH/s, in addition to 1600 Gigahash of cutting-edge NVIDIA GPU miners. The new fleet of miners, along with the earlier announced 1.0 EH/s order from MicroBT, will be strategically deployed at the company's existing two sites in Alberta, as well as the third site under development with Validus Power.