Hut 8 Mines 265 Bitcoin In November 2021

Hut 8 Mining Corp. (TSX: HUT) reported today its production results for the month of November 2021. The firm mined 265 bitcoin for the month, averaging at 8.83 bitcoin per day.

The crypto firm also completed the deployment of NVIDIA cryptocurrency mining processors “to mine the Ethereum network via Luxor pool.” Consistent with its hodl strategy, it is receiving payouts in bitcoin and this deployment is expected to add approximately 1.8 – 2.0 bitcoin per day.

All of the company’s self-mined bitcoin for the month were deposited into custody. Total bitcoin balance at the end of the month came in at 5,242 bitcoin, valuing the reserve assets at $380.5 million as of this writing.

Selkirk Copper Mines — sponsored Sponsored · Selkirk Copper Mines

The company also relayed that it currently has an installed hashrate of approximately 1.7 EH/s.

The blockchain firm recently announced its Q3 2021 results, highlighting $50.3 million in revenue and surpassing its 5,000 self-mined bitcoin target for the year.

Hut 8 Mining Corp. last traded at $15.05 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

Why Is This $1.5 Billion Gold Story Worth Just $37 Million? | Fredonia Mining PEA

This Copper Stock Exploded Before Anyone Knew the Grade | Decade Resource

Silver Miners Will Crush Gold Miners | Adrian Day

Recommended

Cambria Gold Reverses Course on Mt. Margaret Spinout, Citing Strong Copper Fundamentals

Krait Critical Minerals Closes Acquisition of Nevada Hills Antimony and Its Two Washington Projects

Related News

Russians Ditch Ruble for Stablecoins as Sanctions Cripple Russia’s Currency

Russian citizens have been increasingly flocking to stablecoins in lieu of the ruble, as tough...

Monday, February 28, 2022, 05:10:00 PM

Tesla Suspends Bitcoin Use Over Environmental Impact Concerns

Less than two months after Elon Musk announced that Tesla would begin accepting bitcoin for...

Wednesday, May 12, 2021, 10:24:00 PM

Hut 8 Mining Files For Nasdaq Listing

Hut 8 Mining Corp. (TSX: HUT) announced today that it filed its F-10 form in...

Wednesday, May 12, 2021, 09:29:00 AM

Bitcoin Blasts Past $118K-Mark, Leaving Nvidia and the S&P 500 in Its Dust

Bitcoin smashed another record Friday, punching through $118,000 during Asian trading and settling near $117,800...

Friday, July 11, 2025, 11:56:00 AM

El Salvador Shelves Bitcoin Bond Debut Amid Unfavourable Market Conditions

El Salvador decided to postpone the offering of its $1 billion bond last week, citing...

Wednesday, March 23, 2022, 04:16:00 PM