- Hut 8 (HUT) increased its Bitcoin holdings by 277 through September to a total of 8,388
- The company averaged production of 9.2 BTC per day, all of which were deposited into custody
- After Ethereum’s Merge, Hut 8 is exploring opportunities to move additional GPUs into its data centres while optimizing ASIC deployments across its three Bitcoin mining sites
- Hut 8 Mining is one of North America’s largest digital asset miners
- Hut 8 (HUT) is up by 4.23 per cent, trading at $2.71 per share
Hut 8 (HUT) increased its Bitcoin holdings by 277 through September to a total of 8,388.
Production highlights:
- Averaged production of 9.2 BTC per day, all of which were deposited into custody
- Consolidated miners at Medicine Hat site, increasing hashrate efficiency by 11 per cent
- Achieved 90.2 BTC/EH for the month
- Installed ASIC hashrate capacity was 3.07 EH/s as of September 30, which excludes certain legacy miners expected to be fully replaced by year-end
Operational updates:
- After Ethereum’s transition to proof-of-stake transaction validation, Hut 8 is exploring opportunities to move additional GPUs into its data centres while optimizing ASIC deployments across its three Bitcoin mining sites
- The company curtailed operations accordingly after unseasonably warm weather and global energy supply chain challenges caused power prices to fluctuate throughout September
- Production at its North Bay mine was interrupted mid-month, while new ventilation components were installed during the same period
“We continue to add to our Bitcoin on the balance sheet, which is the largest unencumbered, self-mined stack of any publicly traded mining company,” stated Jaime Leverton, Hut 8’s CEO.
“As we head into the fourth quarter with strong momentum, we are focused on optimizing our Bitcoin mining operations while growing our high-performance computing business,” she added, “which includes potentially leveraging our GPU machines to provide AI, machine learning or VFX rendering services to customers, and mining the next most-profitable proof-of-work digital asset during idle time.”
Hut 8 Mining is one of North America’s largest digital asset miners.
Hut 8 (HUT) is up by 4.23 per cent, trading at $2.71 per share as of 1:17 pm EST.
