Tags: Hut 8

Prepare for a North American Bitcoin Mining Infrastructure Boom + More News

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

Hut 8 mining site. (Hut 8)

HUT 8 Mining (hut8.io)

(RapidEye/Getty Images Plus)

(Getty Images)

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.

Management spoke to investors on Thursday morning following release of the company‘s fourth quarter and full-year 2022 results.

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.