Hut 8 Mines 264 Bitcoin In September 2021

Hut 8 Mining Corp. (TSX: HUT) provided this morning production updates for the month of September 2021. The crypto miner yielded 264 bitcoin for the month, a decrease from its August 2021’s production of 326 bitcoin.

The monthly production averages at 9.11 bitcoin mined per day, down from the previous month’s daily average of 10.5 bitcoin mined per day.

During the month, the company received and installed 600 servers with 2400 NVIDIA cryptocurrency mining processors. This resulted in mining 7.10 ethereum per day.

“We are thrilled with our current amount of Bitcoin held in reserve as well as being ahead of schedule on our commitment to the market to have over 5,000 self-mined Bitcoin by end of Q4.”, said Hut 8 CEO Jaime Leverton.

All of the company’s self-mined bitcoin for the month were deposited into custody as part of its “hold” strategy. Total bitcoin balance at the end of the month came in at 4,724 bitcoin, valuing the reserve assets at $284.5 million as of this writing.

The company’s CTO, Jason Zaluski, also added that the “current capacity of deployed CMP GPU miners will continue to earn $25,000 per day, ramping up to the full capacity earnings over this period, which is expected to be at $110,000 per day”.

Hut 8 Mining Corp. last traded at $11.68 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.

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