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Bitfury, Hut 8 partner to establish largest bitcoin datacenters in North America

Full-service blockchain technology company Bitfury has partnered with bitcoin mining company Hut 8.

The collaboration is aimed at acquiring, installing, maintaining and operating bitcoin mining datacenters. Under the terms of the partnership, Bitfury will exclusively provide to Hut 8 a bitcoin mining solution comprised of a proprietary mix of hardware, software, installation and operational services.

“We are excited to partner with Hut 8 to expand our activities in the strategic North America market,” said Bitfury CEO, Valery Vavilov. “We believe there is a tremendous opportunity to establish North America as one of the most important crypto-currency mining hubs in the world.”

Upon completion of the partnership, Hut 8 will own and operate, what they claim, to be the largest cryptocurrency mining farm in North America.

According to the roadmap, Hut 8 will gain immediate control over 22 bitcoin mining datacenters operating at 24.2 MW / 165 PH/s in phase I. The first quarter of 2018 is expected to see a public listing on a Canadian stock exchange and completion of the phase II of the deal – increasing control to an additional 35 datacenters operating at 38.5 MW / 262.5 PH/s.

Hut 8 said that it plans to scale rapidly throughout 2018 with installed capacity set to exceed 60 MW using existing Bitfury sites and new installations. The company also maintains the exclusive option to acquire additional datacenters from Bitfury in North America.

“This partnership signifies the growing demand for access to Bitcoin investment opportunities across North America,” said Sean Clark, CEO of Hut 8. “Bitfury’s market share, unmatched computing power, and ability to scale, in combination with a Board of Directors that former hedge fund manager Michael Novogratz and renowned venture capitalist Bill Tai have both agreed to serve on, offers Hut 8 an extreme advantage in a competitive marketplace.”

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