With the purchase of 31,145 Antminer S21+ units for $15 per terahash, Hut 8 has announced an update to its ASIC fleet.
The massive North American cryptocurrency mining company Hut 8 has announced plans to acquire 31,145 Bitmain Antminer S21+ miners in order to expand its ASIC fleet.
According to the purchase deal, the Miami-based mining company will buy the miners for $15 per terahash, with delivery anticipated in early 2025, according to a press release issued on November 6.
With this modification, Hut 8’s self-mining capability is expected to grow by 3.7 exahashes per second, reaching roughly 9.3 EH/s—a 66% increase over its present levels.
According to the press statement, the new units should reduce average energy consumption per terahash from 31.7 to 19.9 joules, increasing fleet efficiency by 37%.
Hut 8 Upgrades Mining Fleet
By mid-2025, Hut 8 aims to achieve around 24 EH/s in self-mining hashrate and 15.7 J/TH in fleet efficiency, in addition to the opportunity to buy an extra 15 EH/s of Bitmain miners at its Vega site.
The S21+ offers a “faster payback period than more efficient models across a wide band of future hashprice scenarios,” according to Hut 8 CEO Asher Genoot, who also mentioned that these machines might help the company maximize investment returns.
According to Nasdaq data, Hut 8 shares increased by around 7.6% to $16.74 after the news. The update was made just a few months after Hut 8 announced the expansion of its collaboration with Bitmain and the impending release of the U3S21EXPH, a next-generation ASIC miner with a throughput of up to 860 TH/s.
The miner is the first mass-commercialized ASIC model with direct liquid-to-chip cooling in a U-form factor, and it is expected to be deployed in Q2 2025.
