Hut 8 Buys $30M Worth of Nvidia’s New Crypto Mining GPUs
The batch of processors will add 1,600 GH to Hut 8's mining capacity.
LHR is the industry's answer to the global supply shortage of GPUs caused by miners hoping to cash in on bull market fervor.
The affected graphics cards will be labelled with an identifier so consumers know what they are buying.
Computer hardware sites are beginning to see GPU stocks come back to pre-pandemic levels while prices have dropped 5%-10%.
The revenue for its crypto-specific GPUs is three times the company's projections.
Ethereum is migrating to proof-of-stake, but miners still see profit in proof-of-work.