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Hut 8 Mining Corp. is a leading cryptocurrency mining infrastructure company in Canada, specializing in Bitcoin operations. Founded by Andrew Kiguel in 2011, Hut 8 offers investors direct access to Bitcoin without the hassle of buying the cryptocurrency. With a focus on innovation and high performance computing, Hut 8 aims to create a vertically integrated operation that includes diversified revenue streams, traditional data centers, and emerging technologies like AI and machine learning.
Hut 8 Mining Corp. (NASDAQ-NMS: HUT) has announced the purchase of 2,505 MicroBT M30S machines from Foundry Digital LLC, expected to close on December 15, 2021. This acquisition will enhance Hut 8's self-mining operations by adding an incremental hashrate of 228 PH/s, raising total capacity to approximately 1.94 EH/s. The existing machines are already operational at Hut 8's Medicine Hat location, reflecting the company's commitment to expanding its mining capacity while maintaining a strong presence in the digital asset sector.
Hut 8 Mining Corp. (Nasdaq: HUT) has released its November 2021 production update, reporting the mining of 265 Bitcoin, averaging 8.83 Bitcoin daily. The company maintains a total Bitcoin reserve of 5,242 and has implemented high-performance NVIDIA chips for Ethereum mining, generating approximately $140,000 in daily revenue. The cost of mining remains low at about $3,000 per Bitcoin, yielding impressive unit margins over 95%. Hut 8 continues its commitment to a Hodl strategy, ensuring that all mined Bitcoin is deposited into custody.
Hut 8 Mining Corp. (HUT) has announced a change in auditors following the resignation of Dale Matheson Carr-Hilton Labonte LLP effective November 16, 2021. The Board has appointed Raymond Chabot Grant Thornton LLP as the new auditor, effective November 30, 2021. There were no disagreements with the former auditor regarding audit practices or financial disclosures, and no reportable events occurred during their tenure. Hut 8 emphasizes a smooth transition and continues its commitment to shareholder value through its digital asset mining operations.
Hut 8 Mining Corp. (Nasdaq: HUT, TSX: HUT) announced its participation in the D.A. Davidson 2021 FinTech and Payment Spotlight Conference on December 2, 2021. As one of North America's largest digital asset miners, Hut 8 supports decentralized systems since 2018. The company operates three sites with high capacity and holds the most self-mined Bitcoin globally. Hut 8 emphasizes a diversified revenue strategy, including digital asset mining, compute hosting, and yield programs. The company aims to protect shareholder value and drive innovation in the digital asset space.
Hut 8 Mining Corp. (HUT) reported strong Q3-2021 financial results, achieving record revenue of CAD 50.3 million, driven by self-mining that generated CAD 47.9 million. The company mined 905 Bitcoin, raising its total reserve to approximately 5,053 Bitcoin valued at CAD 430 million. A significant milestone includes the complete delivery of 10,000 NVIDIA GPUs, enhancing efficiency with mining costs under CAD 3,000 per Bitcoin. The company’s strong performance resulted in net income of CAD 23.4 million and a cash reserve of CAD 223.2 million.
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