Large miner Hut 8 has again increased the number of reserves

  • 14:23 Dec 06, 2022
Large miner Hut 8 has again increased the number of reserves

In November, the Canadian company Hut 8 managed to mine 238 bitcoins. By the strategy, all obtained coins were sent to the reserve, the volume of which currently amounts to 8925 BTC. 

The mining company managed to reach a hash rate of 3.27 Eh/s by installing 2,000 pieces of equipment in the province of Alberta. All of the units are Whattsminer 30S++/+ from MicroBT. As of the end of November, there was a decrease in the hashrate to 2.44 Eh/s. It is due to the suspension of mining at the North Bay site. 

According to Hut 8 CEO Jamie Leverton, by connecting 2,000 units, we were able to significantly increase the hashrate:

Also, our approach, which is based on balance, allows us to keep the coins we've mined. As a result, we have the most unencumbered bitcoins among public miners. 

Another company that also has an accumulation strategy is Marathon Digital. However, as of the end of October, only 3,464 BTC were unencumbered out of the 1,285 BTC it had. The rest of the coins acted as collateral for loans. 

Recall, for the first time miners sold more BTC than they mined in June this year. The trend continued until early fall. In November, miners' income fell by more than 20%.

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