Hut 8 Mined 131 New Bitcoin In March

Hut 8 generated 31 Bitcoins for a daily production rate of around 4.2 Bitcoins.

In March 2023, the miner also sold 240 Bitcoins, all of which were created in February and half of March.

The entire Bitcoin amount kept in reserve as of March 31 is 9,133, according to the report.

According to the Canadian company, the installed ASIC hashrate capacity at the Alberta facility was 2.6 EH/s at the end of the month. In March, Hut 8 generated 50.38 BTC/EH. It added 1,000 miners to its Medicine Hat location, raising the hashrate to an all-time high of 1.72 EH/s.

The miner also said that the difficulty level for mining Bitcoin has climbed by 10.67% month over month, making it more difficult and costly to mine new blocks and demonstrating the Bitcoin network’s rising demand and strength.

Jaime Leverton, CEO of Hut 8, stated:

“While we met key operational milestones in Medicine Hat in March, we continue to be laser-focused on two things. The entire management team is committed to both remediating the challenges at our Drumheller site, and closing the transaction with USBTC, which remains on track.”

According to the statistics from theminermag, the Bitcoin miner generated 475 BTC throughout the quarter. Its realized hashrate has likewise decreased from 1.72 to 1.44.

Hut 8 reported its financial results for the fiscal year and quarter ended December 31, 2022, last month, indicating a reduction from $23.1 million to $150.7 million.

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