North American Bitcoin mining firm Hut8Mining plans to double its hashrate by the end of the year, purchasing 11,090 new machines $44.4 million worth.

The community response was like:  Are we buying China’s old hardware? They still have the inside track to new ASICS in mainland and Taiwan.  Much hashrate on American soil. Wonder if this is good or bad.

Bitcoin is dead.

If Bitcoin takes over the world and all fiat currencies die, the world would be more equal. There will be a time when the people who doubted crypto ask how to invest.

Reportedly, Hut 8 is investing USD 44.373 million for the purchase of 11,090 MicroBT M30S, M30S+ and M31S miners from SuperAcme Technology (Hong Kong) Limited (“SuperAcme”), representing approximately $44/Terahash.

The miners are expected to deliver from October 2021, and full deployment will happen from December 2021. This purchase complements a smaller purchase of 863 M30S+ and M30S miners, which has been made earlier this week, and this is expected to be delivered and completely deployed in July 2021.

The anticipated production capacity improves with both purchases upon full deployment at 1.081 E/H, alongside previously announced investments.  This should bring Hut 8’s total installed capacity to approximately 2.5 E/H. This new fleet of miners will make the first operational fleet in the Company’s planned 100 MW facility developed in partnership with Validus Power.

Considering the current bitcoin network dynamics, these hashrate installations are expected to provide Hut 8’s current average production from 6.5 – 7.5 Bitcoin per day to 14 – 16 Bitcoin per day based on current economic conditions.

Meanwhile, Warren Davidson, US Representative, expressed: “China is building the creepiest surveillance tool in history. That’s why we should be embracing decentralized ledger technology.”

The community was like:  If China told us to jump off a bridge, would we? They are not good friends to model ourselves on.

Peter Van Valkenburgh, U.S. House of Representatives, “We have the Bitcoin Lightning Network to bundle millions of transactions without a meaningful increase of energy.”

Bitcoin uses 1/5th of the energy traditional finance does, and second layers like the Lightning Network make sending millions of transactions at the speed of light trivial.

The community is like Nothing does it better than Bitcoin Math & physics embedded in code with 100% freedom and transparency.

Many of them are like:  I really need to get to my next question about carbon footprint.