Mining Company HUT 8’s Reserves Exceed 8,000 BTC

Mining Company HUT 8's Reserves Exceed 8,000 BTC

Mining Company HUT 8’s Reserves Exceed 8,000 BTC

The Canadian mining organization HUT 8 on the official website published reports on its BTC assets, which amounted to over 8100 coins in August 2022. It was reported that 375 bitcoins were mined in a month with an average daily mining rate of 12.1 BTC.

While many profile companies are forced to sell off their assets in the face of low liquidity in the crypto market, HUT 8 continues to stick to a long-term hodling strategy. Data also appeared, according to which, at the end of August this year, the corporation installed an additional 180 NVIDIA video chips based on the main data center (located in Kelowna, British Columbia).

At the moment, the organization is actively engaged in the production of ether. However, in the context of the upcoming update of the Ethereum ecosystem and the transition to the Proof-of-Stake consensus algorithm, the power of HUT 8 will be used for machine learning and visual effects rendering in the future.

According to HUT 8 CEO Jaime Leverton, in August 2022, the company managed to achieve impressive results against the backdrop of a general depression in the crypto segment. The corporation will also continue to act according to a long-term plan to keep digital coins on its balance sheet.

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