Hut 8 Mining Corp. announced that it has finalized an equipment financing loan of $11.8 million from Rochester-based Foundry Digital LLC, a wholly-owned subsidiary of Digital Currency Group (DCG). Hut 8 will use all proceeds from this loan and provide a $2.9 million deposit to order 5,400 units of Whatsminer M30S bitcoin mining machines from MicroBT, adding 475 petahashes per second (PH/s) to its bitcoin mining capacity over the next six months. The equipment financing will be a 12 month term with an annual interest rate of 16.5%. The first batch of machines is scheduled to be running before the end of January. Bitcoin mining industry revenue is at historic highs, in part due to the recent appreciation of Bitcoin's value. As a result, the demand for bitcoin mining hardware has soared [3], creating lead times for bulk orders as long as 8 months with manufacturers requiring down payments ranging from 50-100% of the order price. Foreseeing this problem, Foundry partnered [4] last year with MicroBT, a top manufacturer of cryptocurrency mining hardware, to secure future access to the latest generation bitcoin mining hardware for its institutional customers in North America. The loan agreement assures Hut 8 timely delivery of the machines through Foundry's partnership with MicroBT.