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Seeking Alpha 2022-07-06 13:03:08

Hut 8 Mining bitcoin production drifts up over 6% in June

Hut 8 Mining (NASDAQ:HUT) has mined 328 bitcoins (BTC-USD) in June, up from 309 in May, according to its monthly update released Wednesday.That resulted in an average production rate of 10.9 bitcoins (BTC-USD) per day, the company said.As part of its HODL strategy, 100% of Hut 8's (HUT) self-mined bitcoins (BTC-USD) in June were deposited into custody. It has a total of 7,406 bitcoins in reserve as of June 30.Its Installed operating capacity was 2.78 ("EH/s") at the end of June vs. 2.64 EH/s EH/s in the previous month. Overall, "the team had a successful month in North Bay and will continue to scale up over the next few weeks," said Hut 8 CEO Jamie Leverton. "We are confident that our HODL strategy, coupled with the uncorrelated recurring revenue from our high performance computing business, will allow us to continue to successfully navigate the current market."Previously, (June 6) Hut 8 mined 309 bitcoins in May.

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