Canadian mining company Hut 8 to December 2017 signed a cooperation agreement with BitFury, in the first quarter produced more than 800 BTC.

In its quarterly financial report, the company indicated that it had raised $54 million to continue investments in mining equipment, received $8.5 million of revenue and a step closer to the opening of another center in Canada.

Mining activities Hut 8 beginning in December of last year and managed to get to the end about 500 BTC. Together with the received in the I quarter of 2018 828 BTC company already has a stock of more than 1,300 bitcoins, said chief Executive Director of Hut 8 Kagel Andrew (Andrew Kiguel).

He said that the company started in the city of medicine hat (Alberta) to build a new data center, the capacity of which will more than triple to exceed the current capacity of Hut 8 in mining.

“Playground in medicine hat will consist of an additional 40 BlockBox. After the initial work of Hut 8 will own 57 BlockBox, which is 335% higher than our current mining capacity. This will ensure us the position of one of the largest public bitcoin traders in the world with the computing power of 448 PH/s,” said Andrew Kagel.

According to the report of Hut 8, the production of one bitcoin company spends $2015. Due to the fall in the price of BTC Hut 8 recorded in the first quarter loss of $3.1 million profit. Thus, excluding depreciation gross profit of the company for the period amounted to almost $7 million.

Recall that according to the algorithm of the Bitcoin maximum number of coins is 21 million, and in April of this year, was produced for 17 million