Hut 8 Mining reports 4% growth in February daily average bitcoin production
Phaelnogueira/iStock Editorial via Getty Images
- Hut 8 Mining (NASDAQ:HUT) reported 298 bitcoin mined for February 2022 which led to an average production rate of 10.3 Bitcoin/day; this is compared to 308 mined bitcoin in January with daily average production rate of 9.93.
- Ethereum mining – for which the company receives payment in Bitcoin – generated ~14% of total production, at an average cost of less than C$2.6K/bitcoin.
- 100% of the self-mined bitcoin for February were deposited into custody; total Bitcoin balance held in reserve is 6,115 as of Feb.28, 2022.
- Installed operating capacity currently sits at 2.5 EH/s, a 5% increase from Jan.31, 2022.
- "Our 2022 M30S and M31S+ orders from MicroBT are arriving as scheduled, we are experiencing consistent growth in our MicroBT Authorized Repair Centre, and we are actively recruiting staff for our warranty centre and all our sites," Head of Technology Jason Zaluski commented.
- During February, the company installed 2,715 MicroBT M30S and M31S+ miners.
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Comments (9)
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sslough
03 Mar. 2022
The initial title showing a drop in production should not have been printed. You have zero credibility for publishing that. Thanks for fixing it, but the damage to your reputation is done. Sorry, but details matter.
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We had less days in February. I'm holding
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viperultimaevolution
03 Mar. 2022
6,115 total Bitcoin held, very nice, looks like they are in league with RIOT and right below MARA and SQ for holdings
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Pat Bey
03 Mar. 2022
Hey you guys , Feb was 28 days … monthly comparison are useless , praise the daily increase instead !
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Fidug
03 Mar. 2022
The title is misleading. The '3% drop' is due to there being 3 fewer days in February than in January. When it is normalized by the production rate, there was a 3.7% increase in production in February.