Hut 8 Mines 299 Bitcoin In October

Hut 8 Mining (TSX: HUT) this morning posted its production results for the month of October, improving operating results over that of September while lagging behind its performance earlier this year.

Production for the month of October amounted to 299 bitcoin being mined, averaging out to 9.6 bitcoin per day. While the figure marks an improvement over the 277 mined in September, the results still lag far behind the 375 bitcoin produced in August at a rate of 12.1 per day.

Bitcoin mined was placed into custody, as the company continues its HODL strategy of refusing to sell any crypto, despite the larger market conditions of the digital currency. Currently bitcoin in custody now totals 8,687, which at current pricing is worth approximately $174.8 million.

READ: Hut 8 Mining: HODL Strategy Leads To Second At-The-Market Financing This Year

The firms mining capacity meanwhile remained flat during the month of October, with the hashrate remaining at 3.07 EH/s.

Hut 8 Mining last traded at $2.89 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

Silver’s Finally Breaking the System | Keith Neumeyer – First Majestic

The Best News for Gold Was the Drop! – Peter Grandich

McEwen Copper: The Los Azules Feasibility Study

Recommended

Steadright To Conduct Multi-Phased Exploration At Historic Goundafa Polymetallic Mine

Goliath Resources Drills 10.72 g/t Gold Over 7.83 Metres At Surebet

Related News

Hut 8 Purchases 12,000 Bitcoin Miners For US$58.7 Million, To Augment Hashrate By 1.17 EH/s

Hut 8 Mining Corp. (TSX: HUT) reported this morning its purchase of 12,000 bitcoin miners....

Thursday, October 21, 2021, 09:43:00 AM

Hut 8 Mines 276 Bitcoin In December 2021; Takes US$30 Equipment Financing Loan From Trinity Capital

Hut 8 Mining Corp. (TSX: HUT) reported today its production results for the month of...

Wednesday, January 5, 2022, 09:48:00 AM

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 265 Bitcoin In November 2021

Hut 8 Mining Corp. (TSX: HUT) reported today its production results for the month of...

Thursday, December 2, 2021, 09:27:00 AM

Hut 8 Mining Closes Previously Announced $77.5 Million Financing

Hut 8 Mining Corp (TSXV: HUT) has completed its previously announced offering with institutional investors....

Thursday, January 14, 2021, 07:16:32 AM