Hut 8 Cuts Mining Costs By 30% At New Salt Creek Facility
Publicly traded Bitcoin mining firm Hut 8 Corp announced on April 16 the initialization of self-mining operations at its new Salt Creek facility, only 78 days after breaking ground in the area.
The Texas-based facility boasts a favourable energy profile, which is expected to reduce mining costs by 30% compared to the firm’s hosting facilities.
The new site energization represents just one-third of the entire facility, charged with 63 megawatts (MW) of power in total.
“With Salt Creek, we gain critical control over our miner fleet and operating costs as we head into the halving,” said Hut 8 CEO Asher Genoot in a press release.
“Our outlook on energy prices at the site suggests that the potential for cost savings relative to our cost of mining at Kearney and Granbury is in line with the 30% reduction initially projected,” he continued.
Less than three months after breaking ground, we’ve officially energized one third of our 63 MW Salt Creek site in Culberson County, Texas.
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