Hut 8 Mining mined 330 bitcoins in July

The total reserves of the mining company increased to 7736 BTC

08.08.2022 - 08:10

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What’s new? Hut 8 Mining, a Canadian mining company, has released data on its activities for July 2022. In just a month, Hut 8 Mining mined 330 bitcoins (about $7,82 million at the current Binance rate), and the company’s total reserve as of August 8 amounted to 7736 coins (about $183,4 million).

Press release on the company’s website

What other data has been released? In July, the average number of bitcoins mined per day was 10,61. Ethereum mining took up about 10,7% of the total production. In line with the HODL (long-term custody) strategy, 100% of the BTC mined in July were placed in storage. Installed operating capacity at the end of the month was 2,92 EH/s.

Hut 8 Mining is one of the largest mining companies in North America. It owns three farms in Canada, totaling 36 000 square feet (about 3344 m²), which use a significant amount of renewable resources. Hut 8 Mining was the first Canadian digital asset mining company to list on the US Nasdaq Stock Exchange. The company’s shares are traded under the ticker HUT. As of August 8, 08:00 UTC, the price per share is $2,38, adding 3,48% per day.

Earlier it became known that the Chinese manufacturer of cryptocurrency mining rigs Canaan intends to open its own mining farm in the United States. Also, the launch of joint ventures for cryptocurrency mining will take place in the States. The increase in taxes for miners in Kazakhstan forced Canaan to look for new jurisdictions to diversify its business. The US is considered a more stable country in this regard.

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