Hut 8 Reports 107 BTC Produced In June

Hut 8 Corp (TSX: HUT) saw the production of 107 bitcoin during the month of June under its self-mining operations, a dramatic 17.6% increase from the 91 produced in May.

The bitcoin production increase followed the company increasing its deployed hashrate from 5.5 EH/s to that of 5.7 EH/s, as detailed in the firms June production update released last night. Hut 8’s total hashrate under management meanwhile improved from 17.3 EH/s to 17.8 EH/s, with half of that growth coming from managed services.

Total energy capacity under management meanwhile remained flat from May to June, with that figure currently sitting at 762 MW.

The production increase resulted in the firms bitcoin holdings improve by two bitcoin to 9,105 BTC.

“We continue to optimize our existing assets, including our self-mining sites and five high performance computing data centers, for Bitcoin mining or AI workloads,” commented CEO Asher Genoot.

READ: Hut 8 Announces $150 Million Investment from Coatue Management In A Bid For AI Shift

Outside of bitcoin mining, Hut 8 reportedly is progressing in its artificial intelligence vertical, with over half of its purchased Nvidia GPU’s having been configured and now undergoing testing. The vertical is expected to go live in the second half in the year, with annualized revenue from the segment currently forecast to hit $20 million.

Hut 8 Corp last traded at $21.53 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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