TORONTO, September 2, 2021 / CNW / – Hut 8 Mining Corp. (Nasdaq: HUT) (TSX: HUT) (“Hat 8” or “The Company”), one of North America largest, innovation-oriented digital asset mining pioneer, who has supported open and decentralized systems since 2018, is pleased to provide the following company update.
Hut 8 Logo (CNW Group / Hut 8 Mining Corp)
Mining production highlights for August 2021:
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326 Bitcoin mined, resulting in an average production of 10.5 Bitcoin per day
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100% of the self-mined Bitcoins were deposited in safekeeping August 31, in line with Hut 8’s “Hodl” strategy
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Total Bitcoin balance held in reserve: 4,450 from August 31, 2021
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Receipt and installation of 1,025 new MicroBT machines, increasing the production rate by 92 PH / s
The installation of additional MicroBT 30S machines in August brings the installed hashrate from Hut 8 to 1.37 EH / s. Accordingly, despite the recent upward adjustments in network difficulties, we continue to mine around 9-10 Bitcoin per day.
“We look forward to another strong month from an operational perspective, with our Alberta-based team working to both optimize existing equipment and continuously bring new miners online, “commented Shane Downey, Chief Financial Officer of Hut 8. “We are particularly pleased to have started installing NVIDIA Cryptocurrency Mining Processors (“ CMPs ”) Bitcoin will offer compelling economics, with the total cost per bitcoin expected to be below. will lie 3,000 CAD. “
About hut 8:
Hut 8 is one of North America largest innovation-oriented digital asset miners who have supported open and decentralized systems since 2018. Located in high-energy Alberta, Canada, Hut 8 has one of the highest installed capacity rates in the industry and holds more self-mined bitcoins than any crypto miner or publicly traded company in the world. Hut 8 implements its commitment to mine and hold Bitcoin and pursue a diversified business and income strategy to increase and protect shareholder value regardless of Bitcoin’s market direction. The company’s multi-pronged business strategy includes profitable digital asset mining, white-label high-performance computing hosting, and revenue and income programs that leverage the bitcoins held in reserve. With rapid growth and a great record, Hut 8 was the first public miner on the TSX and the first Canadian miner to be listed on the Nasdaq Global Select Market. Hut 8’s team of business building technologists believe in decentralized systems, administrators of powerful industry-leading solutions, and drivers of innovation in digital asset mining and high performance computing with an emphasis on ESG alignment. Through innovation, imagination and passion, Hut 8 is helping define the digital asset revolution to create value and positive impact for its shareholders and future generations.
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Cautionary Statement Regarding Forward-Looking Information
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of Canadian securities laws and regulations United States Securities Laws (collectively, “Forward-Looking Information”). All information contained in this press release, other than historical facts, concerning activities, events or developments that the company expects or expects will occur or occur in the future, including such things as future business strategy, competitive strength, goals, expansion and the Growth in the company’s businesses, operations, plans, and other such matters are forward-looking information. Forward-looking information is often expressed with the words “can”, “would”, “could”, “should”, “will”, “intend”, “plan”, “foresee”, “believe”, “estimate”, “expect” , “predict”, “may”, “could”, “potentially”, “predict”, “is designed”, “likely” or similar expressions and include statements about Bitcoin network dynamics, the trajectory for the production of additional Bitcoin , the expected timing of equipment deliveries, planned investments for the remainder of 2021, and costs related to the dismantling of digital assets.
Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, although deemed reasonable by Hut 8 as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results , Activities, performance or accomplishments differ materially from those expressed or implied in such forward-looking information, including, but not limited to, the factors detailed in the “Risk Factors” section of the company’s annual information form dated March 25, 2021which is available on www.sedar.com. These factors are not intended to be an exhaustive list of the factors that could affect Hut 8; However, careful consideration should be given to these factors and you should not place undue reliance on any forward-looking statements. There can be no guarantee that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this press release are valid as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or change any statement that contains forward-looking information, or any underlying factors or assumptions, whether as a result of new information, future events or circumstances or for other reasons, unless required by law.
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