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.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
