Hut 8 Mines 326 Bitcoin In August 2021

Hut 8 Mining Corp. (TSX: HUT) provided this morning production updates for the month of August 2021. The crypto miner yielded 326 bitcoin for the month.

The monthly production averages at 10.5 bitcoin mined per day, up from July’s daily average of 9.7 bitcoin mined. It is worth noting that the firm installed 1,025 new MicroBT machines during the month, pushing its total hashrate to 1.37 exahash per second.

All of the company’s self-mined bitcoin were deposited into custody as part of its “hold” strategy. Total bitcoin balance at the end of the month came in at 4,450 bitcoin, valuing the reserve assets at $281 million as of this writing.

The Alberta-based crypto firm recently invested in purchasing NVIDIA cryptocurrency mining processors as part of its strategy to mine ethereum. Parallel to this, the company works on settling its bitcoin mining and targets total cost per bitcoin mined to be under $3,000.

Hut 8 Mining Corp. last traded at $10.26 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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