Major Bitcoin miners Hut 8 Mining and U.S. Bitcoin Corp are set to merge to create a North American crypto mining giant. 

If all goes according to plan, the U.S.-domiciled company—named Hut 8 Corp.—will have a market capitalization of $990 million and shareholders will have equal ownership of the company’s stock. 

As first reported by TheMinerMag, its new hashrate of 7.5 EH/s will make it one of the biggest public Bitcoin miners in North America, according to a U.S. Securities and Exchange Commission filing. Marathon Digital (MARA) is still far and away the most dominant with 23 EH/s of installed capacity. But the post-merger company will be closer in size to Riot Blockchain (RIOT), which has 10.5 EH/s capacity.

“Hashrate” refers to the computational power of the network. Each hash represents a “guess” at a cryptographic code. The miner whose rig correctly guesses it wins the right to verify a block worth of transactions and add it to the blockchain, thereby collecting a block reward. So having a higher hashrate means more chances to collect those rewards. One exahash is equal to one quintillion hashes.

Bitcoin miners were recently hit hard by t

Go to Source to See Full Article
Author: Mathew Di Salvo

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details