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Markham Headquartered TeraGo Sells Data Centre Business to Hut 8 Mining

Under the terms of the agreement, consideration payable to TeraGo Inc. will consist of C$30 million, to be funded from existing cash on the Company's balance sheet. Hut 8 will retain substantially all current Data Center Business employees. The transaction has been approved by the board of directors of Hut 8 and TeraGo and is expected to close in the first quarter of 2022.
Categorized in: Information Communications & Technology, Mergers & Acquisitions Posted on: Last updated on: Written by:
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IT Programmer

Hut 8 Mining Corp., one of North America’s largest, innovation-focused digital asset mining pioneers, supporting open and decentralized systems since 2018, is pleased to announce that it has entered into a definitive agreement to purchase the cloud and colocation data center business from TeraGo Inc. (the “Data Center Business”). Once complete, the acquisition will establish Hut 8 as a leading high-performance computing platform, providing unique positioning for the Company within the digital asset ecosystem.

Full Article: newswire.ca