Announced today, Hut 8 commenced trading of its common shares on the TSX Venture Exchange. With the announcement, the Toronto-based corporation claimed that it is now the world’s largest publicly traded digital currency mining company.The move follows Hut 8’s recent partnership with Bitfury, one of the largest international suppliers of computer chips used in digital currency mining. Announced in December 2017, the partnership signified an exclusive deal between the two companies, with Bitfury providing Hut 8 with a mining solution comprised of a “proprietary mix of hardware, software, installation and operational services.”At the time, Hut 8 CEO Sean Clark stated that the partnership signified a growing demand for Bitcoin investments and digital currency mining across North America. With today’s launch, Hut 8 is continuing its mission to bring the public into the large-scale currency mining equation.
“Today’s listing on the TSXV is a milestone for Canadian investors, who can now access one of the world’s largest publicly traded crypto-mines without purchasing the underlying cryptocurrency,” said Clark. “In crypto-mining, scale is what determines success in the short term, but [it] is also what allows mines to weather any volatility over the long term.“Further, in the accompanying press release, Clark stated that the company’s partnership with Bitfury will allow it to facilitate the “kind of scale” required to deliver profitable output from the currency mining industry. “Listing on the TSX Venture Exchange is a milestone for the growth of Blockchain and cryptocurrency companies,” said Bitfury CEO, Valery Vavilov. “We look forward to continuing our work with Hut 8 as we advance this technology and its value in North America.”
With the emerging digital currency mining industry up for grabs, Canada once again finds itself a potential candidate for industry dominance. Yesterday, Vancouver-based DMG Blockchain Solutions announced a partnership with D-Link Canada, hoping to establish the industry’s “best practices” for digital currency mining.As companies like Hut 8 enter public trading, the future of the currency mining industry continues to unfold. While originally created purely to support the decentralized nature of digital currencies, it is increasingly clear that digital currency mining has emerged as an industry of its own.Image credit: Hut 8 logo
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