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Hut 8 has announced an upgrade to its ASIC fleet with the purchase of 31,145 Antminer S21+ units at $15 per terahash.
North American cryptocurrency mining giant <a href="https://crypto.news/tag/hut-8/" target="_blank" rel="noopener noreferrer nofollow">Hut 8</a> has unveiled plans to upgrade its <a href="https://crypto.news/tag/asic/" target="_blank" rel="noopener noreferrer nofollow">ASIC</a> fleet with the purchase of 31,145 Bitmain Antminer S21+ miners.
In a Nov. 6 <a href="https://www.globenewswire.com/news-release/2024/11/06/2975536/0/en/Hut-8-Announces-Initial-ASIC-Fleet-Upgrade.html" target="_blank" rel="noopener noreferrer nofollow">press release</a>, the Miami-headquartered mining company stated that under the purchase agreement, it will acquire the miners at $15.00 per terahash, with delivery expected in early 2025. This upgrade is set to add 3.7 exahashes per second to Hut 8’s self-mining capacity, boosting it to approximately 9.3 EH/s, a 66% increase from current levels.
The new units are expected to enhance fleet efficiency by 37%, lowering average energy consumption per terahash from 31.7 to 19.9 joules, according to the press release.
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<h2 class="wp-block-heading" id="hut-8-upgrades-mining-fleet">Hut 8 upgrades mining fleet</h2>
Alongside an existing option to purchase an additional 15 EH/s of Bitmain miners at its Vega site, Hut 8 stated its goal to reach around 24 EH/s in self-mining hashrate and 15.7 J/TH in fleet efficiency by mid-2025.
Hut 8 chief executive Asher Genoot noted that the S21+ offers a “faster payback period than more efficient models across a wide band of future hashprice scenarios,” adding that these machines could help the company optimize investment returns. Following the news, Hut 8 shares rose nearly 7.6% to $16.74, according to <a href="https://www.nasdaq.com/market-activity/stocks/hut" target="_blank" rel="noopener noreferrer nofollow">data</a> from Nasdaq.
The upgrade comes just a few months after Hut 8 <a href="https://crypto.news/hut-8-deepens-bitmain-partnership-with-launch-of-new-asic-miner-in-2025/" target="_blank" rel="noopener noreferrer nofollow">expanded</a> its partnership with Bitmain, revealing the upcoming launch of the U3S21EXPH, a next-generation ASIC miner capable of reaching up to 860 TH/s. Scheduled for deployment in Q2 2025, the miner is the first mass-commercialized ASIC model to feature direct liquid-to-chip cooling in a U-form factor.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/analysts-reiterate-buy-rating-as-hut-8-inks-125m-deal/"> Analysts reiterate ‘buy’ rating as Hut 8 inks $125m deal </a>

Bitcoin miner Hut 8 to increase hashrate with fleet upgrade

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