Hut 8’s Bitcoin Output Holds Steady in October

Hut 8 Mining Corp. mined 112 Bitcoins in October
amid recent developments, including a strategic acquisition and a vision for
diversified operations. The mining firm’s output in the period was equal to a
daily production rate of around 3.6 Bitcoins.

During October, Hut 8 sold 365 Bitcoins,
accumulating CAD$14.6 million. This translates to an average selling price of
approximately CAD$39,980 per Bitcoin. As a result, Hut 8 maintains a
significant Bitcoin reserve of 9,113, out of which 7,016 remain unencumbered,
according to the statement released by the company today (Tuesday).

Hut 8 installed an ASIC hash rate capacity of 2.6
EH/s in its Alberta facilities by the end of October. According to the company,
this resulted in a production rate of 43.1 BTC/EH.

Besides that, during the period, Hut 8 secured
approval from the Ontario Superior Court of Justice for a bid to acquire four
natural gas power plants in Ontario, totaling approximately 310 MW. This
acquisition
Acquisition

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There

Acquisition means acquiring or taking possession or the securing of property, services, or abilities. To put it simply, it is the act or process of acquiring or gaining. You can acquire a work of art, you can acquire an ability such as speaking another language, you can acquire a business or shares in a company and you can acquire an accountant’s service. For example, you can acquire a new car. In a broad sense, Acquisition can mean the act of taking ownership or possession of something. There
Read this Term includes a Bitcoin mine in North Bay. Hut 8 is banking on this
move, coupled with its proposed business combination with US Bitcoin Corp., to
strengthen its operations.