{"id":76750,"date":"2023-04-05T17:41:30","date_gmt":"2023-04-05T14:41:30","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76750"},"modified":"2025-09-10T19:12:52","modified_gmt":"2025-09-10T16:12:52","slug":"hut-8-cuts-bitcoin-mining-to-131-btc-in-march","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/hut-8-cuts-bitcoin-mining-to-131-btc-in-march\/","title":{"rendered":"Hut 8 cuts Bitcoin mining to 131 BTC in March"},"content":{"rendered":"<p>In March, the Canadian mining company Hut 8 Mining mined 131 BTC. The firm\u2019s cryptocurrency reserves at the end of the month stood at 9,133 BTC.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">? March 2023 ?<br \/>Production Update Highlights:<\/p>\n<p>\u26cf\ufe0f131 BTC mined<br \/>?\ufe0f 9,133 BTC in reserve \u2013 largest self-mined stack of any public company<br \/>\u2699\ufe0f 50.38 BTC\/EH<\/p>\n<p>Read more ? <a href=\"https:\/\/t.co\/HlvzomgEtb\">https:\/\/t.co\/HlvzomgEtb<\/a><\/p>\n<p>\u2014 Hut 8 (@Hut8Mining) <a href=\"https:\/\/twitter.com\/Hut8Mining\/status\/1643584435521036288?ref_src=twsrc%5Etfw\">April 5, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Hut 8 has reduced Bitcoin production volumes since the start of the year: in January the company mined 188 BTC, and in February \u2014 156.<\/p>\n<p>The company noted that total <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-mining-difficulty-hits-a-new-all-time-high-3\">increase in mining difficulty<\/a> for March was 10.67%. This negatively affected production: on a per-hash basis, March averaged 50.38 BTC\/EH, versus the <a href=\"https:\/\/twitter.com\/Hut8Mining\/status\/1633104352381476867\">February figure<\/a> of 62.4 BTC\/EH.<\/p>\n<p>As of March 31, the company had a hash rate of 2.6 EH\/s. During the month, the company continued relocating equipment from a data centre in North Bay, Ontario.<\/p>\n<p>In January Hut 8 <a href=\"https:\/\/forklog.com\/en\/news\/hut-8-mining-sues-electricity-provider\">filed a lawsuit against a local electricity supplier<\/a> for breach of contract, and in February received notice of lease termination.<\/p>\n<p>During March, the company deployed around 1,000 miners from the closed facility to the Medicine Hat site and pushed its hash rate to a maximum of 1.72 EH\/s. At present, all active Hut 8 data centres are located in Alberta.\u00a0<\/p>\n<p>During the month, the firm sold 240 BTC \u2014 the entire February production and part of March. At the end of January, Hut 8&#8217;s reserves stood at 9,274 BTC, but the company warned that it would liquidate part of the cryptocurrency to finance the merger with US Bitcoin.\u00a0<\/p>\n<p>The parties <a href=\"https:\/\/forklog.com\/en\/news\/hut-8-and-us-bitcoin-to-merge-into-new-hut-8-corp\">announced the deal in February<\/a> and have already <a href=\"https:\/\/forklog.com\/en\/news\/canadian-regulator-approves-hut-8-and-us-bitcoin-merger\">received approval<\/a> from one of Canada\u2019s regulators. Hut 8 CEO Jamie Leverton confirmed that the implementation of the agreement is proceeding.<\/p>\n<p>In March, the aggregate revenue of Bitcoin miners <a href=\"https:\/\/forklog.com\/en\/news\/bitcoin-miners-revenue-rose-21-in-march\">reached $757.8 million<\/a>. The figure rose by 21% compared with February, according to the <a href=\"https:\/\/forklog.com\/en\/news\/march-in-figures-inflows-to-defi-and-bitcoins-recovery-amid-the-banking-crisis\">ForkLog analytical report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In March, the Canadian mining company Hut 8 Mining mined 131 BTC. The firm\u2019s cryptocurrency reserves at the end of the month stood at 9,133 BTC.<\/p>\n","protected":false},"author":1,"featured_media":76751,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1137,1136],"class_list":["post-76750","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-cryptocurrency-mining","tag-hut-8"],"aioseo_notices":[],"amp_enabled":true,"views":"8","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76750","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=76750"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76750\/revisions"}],"predecessor-version":[{"id":76752,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/76750\/revisions\/76752"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/76751"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=76750"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=76750"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=76750"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}