Hut 8 Produces 111 Bitcoin in September, Pushing Reserves Over 9,300 BTC

Hut 8 Produces 111 Bitcoin in September, Pushing Reserves Over 9,300 BTC

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Leading North American digital asset miner Hut 8 Mining generated 111 Bitcoin during September 2023, averaging around 3.7 BTC mined per day.

This brings Hut 8’s total Bitcoin reserves to 9,366 as of September 30, with 7,269 BTC available for immediate use according to the company’s latest production update.

Installed Mining Capacity Ramps Up

Hut 8 also noted its installed ASIC hashrate capacity reached 2.6 EH/s last month across the company’s Alberta mining facilities.

The company’s hashrate buildout and optimized operations resulted in a September production rate of 42.7 Bitcoin mined per exahash of mining power.

Progress on Transformative Merger

The update also highlighted advancements in Hut 8’s proposed merger with US Bitcoin Corp, which will provide diversified fiat revenue streams from data center hosting and high performance computing alongside Bitcoin mining.

Hut 8 shareholders overwhelmingly greenlit the strategic combination in a September 12 vote. Regulatory approval was also secured in British Columbia courts.

“We’re grateful to our shareholders who demonstrated their support by voting in favour of the merger,” said CEO Jaime Leverton.

By continuing to amass Bitcoin reserves while expanding into complementary infrastructure services, Hut 8 aims to emerge as a vertically integrated digital asset powerhouse.

The company’s production consistency and progress on its transformative merger signal Hut 8’s durability even as crypto markets remain depressed.

BTC, Hut 8, Mining