Hut 8 Mining Corp. (Nasdaq: HUT) had a successful month in September 2023, mining a total of 111 Bitcoin. This translates to an average production rate of approximately 3.7 Bitcoin per day. None of the Bitcoin mined during the month were sold, and the company ended September with a total balance of 9,366 Bitcoin in reserve, with 7,269 of them being unencumbered.
At the end of September, Hut 8 had an installed ASIC hashrate capacity of 2.6 EH/s at its Alberta facilities. In terms of productivity, Hut 8 produced 42.7 BTC/EH in September.
In other news, a special meeting held on September 12 saw shareholders of the company overwhelmingly approve the proposed business combination with U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC”). This transaction, which will be carried out through a court-approved plan of arrangement, is an important step towards completing the merger. On September 15, the Supreme Court of British Columbia issued a final order approving the arrangement, further advancing the transaction with USBTC.
Jaime Leverton, CEO of Hut 8, expressed gratitude to the shareholders for their support and highlighted the progress being made towards completing the merger. Leverton emphasized that the transaction will lead to a new Hut 8, with diversified fiat revenue streams in high-performance computing, hosting, and managed infrastructure operations. These developments are intended to capture upside and address the challenges that single-threaded miners may face in the future.
Hut 8 is a company focused on building and operating computing infrastructure for Bitcoin mining, traditional data centers, and emerging technologies like AI and machine learning. With seven sites in its infrastructure portfolio, including high-performance computing data centers and Bitcoin mining sites, Hut 8 is known for its unique treasury strategy and high inventory of self-mined Bitcoin.
Please note that the information provided in this rewritten article is for informational purposes only and should not be considered as financial advice. Investing in cryptocurrencies carries risks, and individuals should conduct their own research and consult with a financial advisor before making any investment decisions.
