Hut 8 Mines 111 Bitcoin in September, Continues Growing Reserves Despite Lower Output
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Hut 8 mined 111 Bitcoin in September, bringing its reserves to 9,366 BTC. The amount is up 8% from August but lower than May 2022.
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Hut 8's monthly mining output has dropped 60% over the past year, but the company continues its hodl strategy.
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The merger between Hut 8 and USBTC continues to progress, recently getting final Canadian court approval.
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The new merged company will be called Hut 8 Corp or "New Hut" and have diversified revenue streams.
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Unlike some miners selling BTC reserves, Hut 8 continues to expand its Bitcoin stash, now over 9,000 BTC.