Tags: Hut 8 Mining

New and old bitcoin mining rigs at CleanSpark‘s site in Georgia. (Eliza Gkritsi/CoinDesk)

HUT 8 Mining (hut8.io)

U.S. Bitcoin Corp‘s Buffalo Ave. site (Eliza Gkritsi/CoinDesk)

Bitcoin miners are no longer able or willing to hold onto all of their mined digital assets indefinitely as a slump in prices is eating into their margins.

The company in August signed a hosting deal with now-bankrupt Compute North for a site that is now managed by USBTC.

The deal is a major consolidation move in the bitcoin mining industry.