May 3, 2025
Blockchain

Mining company Hut 8 reserves exceed 8100 BTC

  • September 7, 2022
  • 0

At the end of August 2022, Canadian mining company Hut 8 Mining had accumulated 8111 BTC ($152.7 million at current exchange rate). August 2022 Production Update:📅375 BTC mined

Mining company Hut 8 reserves exceed 8100 BTC

Mining company Hut 8 reserves exceed 8100 BTC
Mining company Hut 8 reserves exceed 8100 BTC

At the end of August 2022, Canadian mining company Hut 8 Mining had accumulated 8111 BTC ($152.7 million at current exchange rate).

During the reporting period, 375 BTC was mined with an average productivity of ~12.1 BTC per day. Cottage 8 left all the money on the balance sheet.

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

At the end of the month, the firm installed 180 Nvidia GPUs in its flagship data center in Kelowna, British Columbia. According to a press release, Hut 8 has partnered with Zenlayer to provide capacity to Canadian Web3 customers and blockchain companies.

“In August, the team achieved very strong results that put us well in mining and high-performance infrastructure,” said Jamie Leverton, Hut 8 CEO.

According to him, the company continues to acquire and install new MicroBT miners.

Recall that in the second quarter, Hut 8 posted a loss of $69.2 million against a net profit of $55.7 million in the January-March period.

The Canadian company has adhered to its strategy of accumulating reserves in cryptocurrency, along with Marathon Digital Holdings.

In June, most of the public miners started selling their bitcoin holdings, liquidating 14,600 BTC. In July, the trend continued with companies selling 5,767.9 BTC for cumulative production of 3,478 BTC.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

Leave a Reply

Your email address will not be published. Required fields are marked *