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.
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.
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