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TipRanks 2022-07-06 16:00:59

Hut 8 Mining Increases Bitcoin Mining Production; Shares Slip 9%

Hut 8 Mining (TSE: HUT) (HUT) generated 328 bitcoins (BTC-USD) in June, equating to a mining rate of about 10.9 bitcoins per day, an increase from last month's 309. Despite this, the stock is currently down 9% today. In total, the company has 7,406 self-mined bitcoins in its reserves. Assuming a price of $20,000 per bitcoin, this equates to $148,120,000 worth of cryptocurrency. Hut 8 Mining is a cryptocurrency mining company with industrial-scale bitcoin mining operations in Canada. It provides investors with direct exposure to bitcoin without the technical complexity or constraints of purchasing the underlying cryptocurrency.

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