The transparency of Bitcoin's hashrate, which captures the computational force being used across the network, creates a degree of transparency innate to Bitcoin mining, according to Hut 8 CEO Jaime Leverton. This transparency allows for easy tracking of Bitcoin miners' energy usage, unlike the traditional banking system or hard metal mining.
The last publicly listed bitcoin miner to pursue a 100% “hodl” strategy since the bull market, Hut 8 Mining (HUT), said last week that it finally gave in and sold 188 bitcoins in February to fund operations.
Operational issues across its bitcoin mining sites are weighing on Hut 8 Mining (HUT) as it tries to complete what would be one of the largest deals in the sector – the company's merger with U.S. Bitcoin Corp.
As artificial intelligence (AI) rapidly works its complex magic on one sector of the economy after another, there is an increasingly pressing need for compute resources to power all this machine intelligence.
Crypto exchange FTX’s collapse and overall crypto market turmoil were not key factors in the decision to merge crypto mining firm Hut 8 with US Bitcoin Corp., according to Hut 8 CEO Jamie Leverton. On Feb. 8, Leverton said that the merger was mainly about providing diversified revenue and helping scale the combined businesses, stating: