Hut 8 Mining’s reserves exceed 7,406 BTC

For June 2022, the Canadian mining company Hut 8 Mining amassed 7,406 BTC (about $148.1 million at the current rate). The press release говорится.

During the reporting period, 328 BTC were mined at an average rate of 10.9 BTC per day. All coins were left on Hut 8’s balance.

As of June 30, the company’s hash rate stood at about 2.78 EH/s. According to the release, by month’s end the North Bay facility in Ontario, Canada, was operating 5,800 miners.

Hut 8 also confirmed its commitment to accumulating Bitcoin in reserves. an analogous statement was made by Marathon Digital Holdings, while Bitfarms decided to sell the mined assets to “increase liquidity and strengthen the balance sheet”.

“The team had a successful month in North Bay and will continue expanding over the next few weeks. We are confident that our HODL strategy […] will continue to position us well in the current market,” said Hut 8 CEO Jamie Leverton.

In the first quarter the company mined 942 BTC and increased its hash rate by 27%. In addition to mining operations, it earned hosting services revenue (about $0.6 million) and a high-performance computing service (about $2.5 million) in January–March.

In June, miners’ revenue for the leading cryptocurrency fell 26%, according to ForkLog’s report.

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