Mining company Hut 8, the largest energy infrastructure operator in North America, announced the purchase of 31,145 Antminer S21+ ASIC miners from Bitmain.

Hut 8 CEO Asher Genoot expects this to allow the company to increase its hashrate by 66% by 2025. Once up and running, new miners should increase their Hut 8 mining speed by approximately 3.7 EH/s, reaching 9.3 EH/s. The average energy efficiency of the Hut 8 fleet is expected to increase by 37%, reducing energy consumption from 31.7 to 19.9 J/TH. Delivery of ASIC miners is scheduled for the beginning of the first quarter of 2025.

Thanks to the acquisition of the Antminer S21+ for its Vega mining platform, Hut 8 will be able to increase its capacity to 24 EH/s by the second quarter of next year, achieving an average efficiency of 15.7 J/TH, Jenut added. According to him, this purchase was made to implement the company’s long-term strategy to expand in energy-intensive sectors: Bitcoin mining and computing using artificial intelligence (AI).

“We chose the Antminer S21+ miners to upgrade our fleet due to their consistent profitability profile compared to other capital-intensive models. Antminer S21+ should pay for itself faster,” hopes the CEO of Hut 8.

In March, Hut 8 announced the closure of a mining farm in Alberta due to losses associated with increased energy costs. However, Jenut later expressed hope that mining companies would still remain on the market, despite financial problems.