Hut 8 sees layoffs as new year begins

By Ashley Wiebe
January 14, 2019 - 3:53pm Updated: January 14, 2019 - 7:17pm

 

MEDICINE HAT, AB — A company known for mining bitcoin in Medicine Hat continues to run smoothly, but did announce layoffs last week.

Hut 8, in partnership with Bitfury became fully operational last July, roughly two months ahead of schedule.

Processors run around the clock, cracking algorithms to earn cryptocurrency.

Bitfury did not respond to questions about how many people were laid off at the facility in Medicine Hat but Jeffrey Mason, managing director, did provide the following statement:

“As Bitfury grows, we are constantly evaluating ways to better empower our Company to perform efficiently – in 2019 and beyond. At our core, we always strive to deliver the best results under the most favorable conditions. As part of those efforts, we are streamlining our operations in order to help us advance strategic plans to develop innovative software and hardware solutions and focus on other emerging technologies. This week’s actions reflect those efforts. This decision will enable us to lead the Company into our next chapter of growth. We sincerely appreciate everything our team members have helped us accomplish.”

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