Hut 8 reported a decrease in the number of bitcoins mined – Cryptonium News

Hut 8 reported a decrease in the number of bitcoins mined

Canadian mining company Hut 8 said it produced 161 bitcoins in December, 32% less than November’s 238 BTC. Still, Hut 8’s activity remained resilient.

According to a Hut 8 press release, the company produced an average of 5.2 BTC; in November, 7.9 BTC, due to high electricity prices, which were higher than in the previous month. For the year as a whole, the number of bitcoins in the company’s wallets grew to 9, 086. This is 65% more than at the beginning of the year.

Hut 8’s revenue for the fourth quarter was $31. 7 million compared to $50. 3 million in the third quarter of last year. At the same time, 8.5% more bitcoins were mined than at the equivalent stage in 2021 due to an increase in the number of mining equipment.

I am extremely proud of our team and staff. Together we were able to weather the market turmoil. Despite our difficult history, we continue to grow and accumulate bitcoins. Our economic position allows us to look to 2023 with optimism.” CEO of Hut 8.

Earlier, mining company Marathon Digital had exceeded all of its regular loan commitments, suggesting that it had substantial funds (over $100 million) in its account. Could not read all totals. Repeated repeated attempts…