Bitcoin mining company Hut 8 released
its production and operations update for the month of June today (Thursday) . In the report, the company
disclosed that it mined 120 bitcoins, a production rate equivalent to 4 Bitcoins per day.
During the period, the
Canadian-based miner sold 217 bitcoins, comprising all the crypto assets mined
in May and 70 of what was mined in June. Currently, the number of bitcoins in the
reserves of the miner is 9,139, 8,289 of which are free from debt, the report disclosed.
The amount of Bitcoins mined by Hut 8 in June represents a decline of 18% from 147 mined in the previous month. Additionally, the amount dropped by 63%
from 328 bitcoins reported in the same period last year. The
decline underscores the impact that the crypto winter has had on the Bitcoin miners.
In the Thursday’s report,
Hut 8 said it was continuing with the repairs and the restoration of the mining equipment
at Drumheller, Alberta, and that it had already repaired more than 3,700 equipment in
June. The installed ASIC hash rate capacity for the facilities in
Alberta was 2.6 EH/s as at the end of the month.
Finance Magnates
reported a week ago that Hut 8 had secured
a credit facility…
