Hut 8 Mining’s reserves exceed 8,100 BTC

As of August 2022, the Canadian mining company Hut 8 Mining accumulated 8,111 BTC ($152.7m at the current rate).

August 2022 Production Update:
?375 BTC mined in August ~ 12.10 BTC/day
? 8,111 BTC in reserve
? Hut 8 produced 125.8 BTC/EH in August
? Installed ASIC hash rate capacity of 2.98 EH/s
?100% of BTC deposited into custody#BTC #HODL
Read More ? https://t.co/WmoHEjsBS1

— Hut 8 Mining (@Hut8Mining) September 6, 2022

During the reporting period, 375 BTC were mined at an average production of about 12.1 BTC per day. All coins remained on Hut 8’s balance sheet.

As of 31 August, the company’s hash rate reached 2.98 EH/s.

At the end of the month the firm installed 180 Nvidia GPUs at its flagship data centre in Kelowna, British Columbia. According to a press release, Hut 8, in partnership with Zenlayer, provided capacity to Canadian clients in the Web3 segment and to blockchain companies.

“In August, the team delivered very strong results in mining and high-performance infrastructure, which has put us in a strong position,” said Hut 8’s CEO Jamie Leverton.

She said the company continues to receive and install new MicroBT miners.

In the second quarter Hut 8 posted a loss of $69.2m against $55.7m in net profit in January–March.

The Canadian company, alongside Marathon Digital Holdings, remains committed to the strategy of accumulating reserves in cryptocurrency.

In June, most public miners began selling Bitcoin holdings, liquidating 14,600 BTC. In July the trend continued: firms began selling their Bitcoin inventories, selling 5,767.9 BTC with a combined mining output of 3,478 BTC.

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