Canadian mining company Hut 8 Mining has accumulated 7406 BTC ($148.1 million at the current exchange rate). This data is for June 2022, according to press release.
According to the report, the company mined 328 BTC during the reporting period, with an average output of 10.9 BTC per day. Hut 8 left all coins on the balance sheet.
On June 30, the company’s hashrate reached 2.78 EH/s. According to the company, by the end of the month, 5,800 miners were working at the new site in the city of North Bay (Ontario, Canada).
“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 allow us to continue to successfully navigate the current market,” Hut 8 CEO Jamie Leverton wrote.
The Hut 8 team also announced a strategy for accumulating bitcoin in reserves. Previously similar statement made at Marathon Digital Holdings, while Bitfarms decided to sell extracted assets for the purpose of “increasing liquidity and strengthening the balance sheet”.