The BTC Reserves of Crypto Mining Firm Hut 8 Exceed 7,400 Bitcoin
According to the press release published by Canada-based cryptocurrency mining company Hut 8, at the end of June, the company held 7,406 BTC valued at $148.1M.
During the same period, the firm mined a total of 328 BTC with an average mining rate of 10.9 BTC per day. It should be noted that the firm has not sold any of those Bitcoins it has mined.
The company’s hashrate as of June 30 hit about 2.78 EH/s.
Hut 8 has reported that by the end of the month, 5,800 miners were operating at the new facility in Ontario.
The company has also confirmed it is committed to accumulate Bitcoin in its reserves.
Hut 8 CEO Jaime Leverton has said:
“The team has had a successful month in North Bay and will continue to expand over the next few weeks. We are confident that our HODL strategy will enable us to continue to successfully navigate the current market.”