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 Miami-based cryptocurrency mining company Hut 8 has strengthened its partnership with the mining equipment manufacturer Bitmain. Both companies just unveiled plans to launch the U3S21EXPH, an advanced ASIC mining machine boasting speeds of up to 860 TH/s. 
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<a href="https://www.globenewswire.com/news-release/2024/09/19/2948780/0/en/Hut-8-and-BITMAIN-Expand-Innovation-Partnership-with-Launch-of-Next-Generation-BITMAIN-Miner.html">According to a press release</a> published on September 19, the machine, slated for deployment in Q2 2025, will be the first mass-produced ASIC model to incorporate direct liquid-to-chip cooling within a U-shaped form factor. 
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 “We believe this model represents a more thoughtful approach to capturing the lucrative economics offered by next-generation machines, reducing upfront capital requirements while we continue to pursue growth initiatives in AI infrastructure.”
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Asher Genoot, Hut8 CEO stated.&nbsp; 
As part of the hosting agreement, Hut 8 has the option to acquire all or a portion of the hosted miners in up to three phases at a fixed price within six months of deployment. If the company fully exercises this option, its self-mining hashrate could surge from 5.6 EH/s to 20.6 EH/s. The agreement is structured to reduce upfront capital expenses while offering flexibility for future acquisitions. This allows Hut 8 to evaluate market conditions before making further financial commitments, according to the press release. 
Meanwhile, this announcement follows <a style="color: #0000ff;" href="https://hut8.com/2024/06/24/hut-8-announces-150-million-strategic-investment-from-coatue-to-partner-in-building-next-generation-ai-infrastructure-platform/">Hut 8’s $150 million investment from Coatue Management in June</a>, secured through convertible notes with an 8% annual interest rate. The funding is aimed at expanding Hut 8’s presence in AI infrastructure to meet rising demand and strengthen its leadership in the sector. While details about the new platform’s location remain unclear, the investment will help address unmet market needs. Genoot noted that the partnership with Coatue unlocks significant opportunities for growth and connectivity within the broader AI space.&nbsp; 
In addition to its $150 million investment, Hut 8 <a style="color: #0000ff;" href="https://defi-planet.com/2024/07/bitcoin-miner-hut-8-expands-infrastructure-with-205mw-power-deal-in-west-texas/">secured</a> a power purchase agreement, granting 205 megawatts of power in West Texas. This boosts its energy capacity to 1.3 gigawatts, leveraging low-cost power from a nearby wind farm and the ERCOT grid, further strengthening its AI infrastructure ambitions. 
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The post <a href="https://defi-planet.com/2024/09/hut-8-expands-bitmain-partnership-with-2025-asic-miner-launch/">Hut 8 Expands Bitmain Partnership with 2025 ASIC Miner Launch</a> appeared first on <a href="https://defi-planet.com">DeFi Planet</a>.

Hut 8 Expands Bitmain Partnership with 2025 ASIC Miner Launch

DeFi Planet

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