Canadian mining firm Hut 8 has seen its Bitcoin holdings surpass the 8,000 Bitcoin (BTC) mark because it accumulates self-mining property regardless of declining crypto market situations.
Hut 8 released its newest mining report in August 2022, rising its Bitcoin holdings by 375 BTC for the month to convey its complete reserves to 8,111 BTC. The corporate says it has been mining 12.1 BTC per day at 125.8 BTC per exahash for the month.
Whereas different miners have been compelled to promote a part of their BTC holdings amid the continued crypto bear market, Hut 8 managed to proceed its “long-term HODL technique” and nonetheless holds all mined BTC.
Hut 8 additionally introduced that that they had put in 180 Nvidia GPUs at their most important knowledge middle in Kelowna, Canada. The hub is presently mining Ether (ETH), however with The Merge occasion in September 2022, its GPU mining rig will likely be used to offer synthetic intelligence rendering, machine studying, or VFX.
Hut 8 has additionally elevated its mining capability by buying Chinese language ASIC miners MicroBT. The corporate paid $58.7 million for 12,000 new MicroBT M30S, M30S+, and M30S++ miners in October 2021 and has obtained orders for 1000 machines month-to-month by means of 2022.
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