Hut 8 Mined 131 New Bitcoin In March

Key Points:

• Hut 8’s mined BTC plummeted to 131 BTC in March, down from 188 BTC in January.
• The miner claimed to have sold 240 BTC, which included all of the BTC generated in February and a portion of the 131 BTC mined in March.
• By the conclusion of the month, the Canadian company’s hashrate capacity for its Alberta facilities was 2.6 EH/s.

Hut 8 Mining, one of North America’s biggest, most innovative digital asset mining pioneers and providers of high-performance computer infrastructure, mined 131 Bitcoin in March, down from 188 BTC in January.

Hut 8 generated 31 Bitcoins for a daily production rate of around 4.2 Bitcoins.

In March 2023, the miner also sold 240 Bitcoins, all of which were created in February and half of March.

The entire Bitcoin amount kept in reserve as of March 31 is 9,133, according to the report.

According to the Canadian company, the installed ASIC hashrate capacity at the Alberta facility was 2.6 EH/s at the end of the month. In March, Hut 8 generated 50.38 BTC/EH. It added 1,000 miners to its Medicine Hat location, raising the hashrate to an all-time high of 1.72 EH/s.

The miner also said that the difficulty level for mining Bitcoin has climbed by 10.67% month over month, making it more difficult and costly to mine new blocks and demonstrating the Bitcoin network’s rising demand and strength.

Jaime Leverton, CEO of Hut 8, stated:

“While we met key operational milestones in Medicine Hat in March, we continue to be laser-focused on two things. The entire management team is committed to both remediating the challenges at our Drumheller site, and closing the transaction with USBTC, which remains on track.”

According to the statistics from theminermag, the Bitcoin miner generated 475 BTC throughout the quarter. Its realized hashrate has likewise decreased from 1.72 to 1.44.

Hut 8 reported its financial results for the fiscal year and quarter ended December 31, 2022, last month, indicating a reduction from $23.1 million to $150.7 million.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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