Hut 8 Joins Foundry’s Institutional Bitcoin Mining Pool With Over 14,000 Machines

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Hut 8 plans to add another 5,000 ASICs into Foundry’s pool by August.

Publicly traded bitcoin (BTC, -8.4%) mining firm Hut 8 is currently mining via Foundry’s North America-based pool, based on an announcement made Tuesday.

The Toronto-based firm added 14,400 machines to Foundry’s pool with plans to deploy an additional 5,000 machines by August, per a statement shared by CoinDesk.

Already Foundry ranks near the top 10 mining pools globally, marking a substantial improvement in North American pooled mining activity for a sector historically dominated by the Eastern Hemisphere.

“Having a formidable bitcoin mining pool based and operated entirely in North America is important to us,” said Hut 8 CEO Jamie Leverton at a statement.

Hut 8 shares have significantly improved bitcoin up to now in 2021, climbing almost 160 percent to over C$8 percent share. Bitcoin gained roughly 85% over the exact same period.

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