According to Foresight News, cryptocurrency mining company Hut 8 has released its operational update for January 2024, revealing that it holds 9,116 bitcoins on its balance sheet. The company has also signed a four-year agreement with Ionic Digital, which includes a possible fifth-year extension. This partnership is expected to add over 12 EH/s of computing power and 300 MW of infrastructure to Hut 8's custodial services business, starting from February.
Hut 8 is currently carrying out pre-construction work on a 63 MW site in Culberson County, Texas. On February 2, the company announced that it will end its custodial services in Kearney, Nebraska, and Granbury, Texas, on April 30, 2024. Hut 8 will pay a termination fee of $13,568,000 within 30 days after the termination.