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.

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