Hut 8: Safe and Secure Exposure to Bitcoin
A North American Exclusive Technology
Andrew Kiguel, CEO of Hut 8 explains how Hut 8 mines, stores and provides a safe and secure way for people to get exposure to bitcoin without the complexities of buying the underlying cryptocurrency.
Bitfury is their strategic partner and they have a North American exclusive for their BlockBox technology with each one consumes 1.2 Mega Watts of electricity.
In addition, they have access to reliable, low cost electricity through long term contracts. Hut 8 is the largest industrial bitcoin miner in Canada and that’s a significant achievement.” – Andrew Kiguel, CEO of Hut 8 Mining
A secure and simple way to invest
Investors avoid the need to create online wallets, wire money offshore and safely store their bitcoins. Hut 8 provides a secure and simple way to invest.
Hut 8 is the largest public cryptocurrency mining company in the world. Hut 8 has an exclusive North American partnership with the Bitfury Group, the world’s leading full-service blockchain technology company.
More on Bitcoin Mining
● Mining is the process of verifying cryptocurrency transactions by solving a computationally difficult puzzle that is like guessing a combination code
● Bitcoin miners use powerful Application Specific Integrated Circuit (ASIC) computing chips to compete with each other to correctly solve the encryption puzzle
● When a miner is successful, the block is incorporated into the blockchain and the miner receives 12.5 newly minted bitcoin (this number will halve every four years to keep supply constrained) plus transaction fees
● For its mining activities, Hut 8 utilizes the Bitfury BlockBox AC data centers
● Manufactured by the Bitfury Group, the BlockBoxes AC data centers are regarded as one of the most powerful and cost-effective bitcoin mining solutions available
● BlockBoxes are based on cutting-edge hardware and software and are fully configurable and upgradeable to the next generation of silicon technology
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