Monday, September 15, 2025

Latest

Hut 8 Achieves February Production of 10.3 Bitcoin Per Day

The production numbers for February 2022 are out for Hut 8 Mining (TSX: HUT). It appears the firm took a slight step backwards in terms of total bitcoin mined during the month due to February being a short month, with the firm instead highlighting its “record bitcoin holdings.”

Production for the month amounted to 289 bitcoin, a decline from the 308 mined in January. However, the company did see an increase in bitcoin mined on average per day, which climbed to 10.3 bitcoin, ahead of the 9.93 bitcoin per day produced in January. Production was also ahead of the 276 bitcoin mined in December.

Of the total production, 14% is said to have come from GPU mining which produced Ethereum. The company however was paid for this in the form of Bitcoin, with the average cost said to be less than $2,600 per bitcoin.

As has become a trend for the company, all bitcoin mined during the month was placed into custody, with the firms total bitcoin balance now sitting at 6,115. That strategy, while boosting confidence for the crypto space, has lead the firm to recently announce a US$65 million at the market financing which will be used for corporate purposes.

The production data follows yesterdays announcement that the firm has entered a partnership with Enthusiast Gaming (TSX: EGLX), which will see it sponsor a number of esports related items, while also providing data centre services for the company. Additionally, the partnership with see the firm step into the NFT and Web3.0 space to a small degree, with further details not provided.

Hut 8 Mining last traded at $7.85 on the TSX.


Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

New Found Gold: The Strategic Maritime Resources Purchase

Amex Exploration: Revised Perron PEA Has INSANE Economics

Aris Mining: The Multi Billion Dollar Soto Norte PFS

Recommended

Northern Superior Expands Philibert With 350 Metre Step Out Testing 1.10 g/t Gold Over 25.5 Metres

Goliath Resources Hits 18.58 g/t Gold Over 5.00 Metres At Surebet

Related News

Hut 8 Corp Q3 Earnings: Riding A Bitcoin Rally

Hut 8 (TSX: HUT) is back in the spotlight following Bitcoin’s meteoric rise past $93,000...

Sunday, November 17, 2024, 03:39:00 PM

Hut 8 Closes $115 Million Bought Deal Offering, Begins Trading On Nasdaq

Hut 8 Mining Corp. (TSX: HUT) closed today its previously announced bought deal offering with...

Tuesday, June 15, 2021, 09:52:00 AM

Hut 8 Mines 264 Bitcoin In September 2021

Hut 8 Mining Corp. (TSX: HUT) provided this morning production updates for the month of...

Monday, October 4, 2021, 03:01:00 PM

Well Health, Hut 8 Mining Removed From S&P/TSX Composite In Favor Of Energy Firms

In the words of Bob Dylan, the times they are a-changin’. It appears that Canadian...

Saturday, June 4, 2022, 11:05:00 AM

Hut 8 Mining Sees Q4 Revenue Grow To $57.9 Million

Hut 8 Mining (TSX: HUT) this morning released its fourth quarter financial results, posting revenue...

Thursday, March 17, 2022, 07:49:12 AM