Hut 8 Mining - CEO, Jaime Leverton.
CEO, Jaime Leverton.
Source: Hut 8 Mining.
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  • Hut 8 Mining (HUT) increased its Bitcoin holdings by 328 in June as part of its HODL strategy
  • Total Bitcoins in reserve stood at 7,406 as of June 30, 2022
  • The company’s new North Bay site was operating approximately 5,800 miners on 20 MW of power by month end
  • Its computing business is on track to grow up to 18 per cent by the end of 2022
  • Hut 8 is one of North America’s largest digital asset miners
  • Hut 8 (HUT) is down by 5.73 per cent trading at $1.81 per share

Hut 8 Mining (HUT) increased its Bitcoin holdings by 328 in June as part of its HODL strategy.

Production highlights:

  • Average production rate of 10.9 Bitcoins per day
  • Deposited all self-mined Bitcoin for the month into custody
  • Total Bitcoins in reserve stood at 7,406 as of June 30, 2022
  • Operating capacity was 2.78 EH/s at month end

Operational updates:

  • Scaled up production at new North Bay site with approximately 5,800 miners operating on 20 MW of power by month end
  • Additional scaling at North Bay will follow over the coming weeks
  • Hut 8’s high-performance computing business continues to yield steady monthly recurring revenue on track to grow up to 18 per cent by the end of 2022

“The team had a successful month in North Bay and will continue to scale up over the next few weeks,” said Jaime Leverton, Hut 8’s CEO. “We are confident that our HODL strategy, coupled with the uncorrelated recurring revenue from our high performance computing business, will allow us to continue to successfully navigate the current market.”

Hut 8 is one of North America’s largest digital asset miners.

Hut 8 (HUT) is down by 5.73 per cent trading at $1.81 per share as of 1:19 pm EST.

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