Source: Hut 8 Mining.
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  • Hut 8 Mining (HUT) increased its Bitcoin holdings by 161 in December 2022
  • The company’s Bitcoin reserve stood at 9,086 as of December 31, a 65-per-cent increase YoY
  • It holds the largest unencumbered, self-mined Bitcoin stack among publicly traded companies
  • Hut 8 is one of North America’s largest innovation-focused digital asset miners
  • Hut 8 Mining (HUT) opened unchanged, trading at $1.25 per share

Hut 8 Mining (HUT) increased its Bitcoin holdings by 161 in December 2022.

Production highlights:

  • Generated 161 Bitcoins at an average production rate of 5.2 Bitcoins per day. Unusually high energy prices led the company to curtail production and sell power back to the provider
  • Deposited 100 per cent of its December Bitcoin haul into custody, in line with its HODL strategy
  • Installed ASIC hashrate capacity across all Alberta facilities was 2.5 EH/s at month’s end
  • Hut 8’s Bitcoin reserve stood at 9,086 as of December 31, a 65-per-cent increase YoY
  • The company produced 64.4 BTC/EH in December

Operational highlights:

  • North Bay operations remain suspended due to a dispute with the third-party energy supplier to the site
  • Shenif Visram joined the team as CFO in mid-December

“I am proud of the team’s collective and continued grit and perseverance through headwinds that built up in late Q4 2022,” said Jaime Leverton, Hut 8’s CEO. “In spite of challenging market forces, we continued growing the largest unencumbered, self-mined Bitcoin stack of any publicly traded company… and our balance sheet-first approach has us well-positioned in 2023.”

Hut 8 is one of North America’s largest innovation-focused digital asset miners. Its team of business-building technologists is bullish on Bitcoin, blockchain, Web 3.0 and high-performance computing.

Hut 8 Mining (HUT) opened unchanged, trading at $1.25 per share.


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