Hut 8 Strikes Gold in June Mining Operations, Raking in 120 Bitcoins

Toronto-based Hut 8 Mining Corp. continues to excel in its mining operations. The company, a leader in North America’s digital asset mining, mined a whopping 120 Bitcoins in June.

The firm sold 217 Bitcoins during June. These comprised all Bitcoins mined in May and 70 from June, generating $7.9 million in revenue. This impressive performance was fueled by an installed ASIC hashrate capacity of 2.6 EH/s in Alberta.

June also saw significant operational progress. Over 3,700 hashboards were repaired at Hut 8’s Drumheller site in Alberta. Their focus remains on reinstalling and energizing repaired miners, while concurrently fixing others.

Hut 8’s operations were further boosted by a new five-year deal with Interior Health for co-location services at their Kelowna data center.

In another exciting development, the company revealed in a Form S-4 amendment a projected self-mining capacity of 7.5 EH/s post a proposed all-stock merger with U.S. Data Mining Group (USBTC). This includes 1.8 EH/s capacity at the King Mountain, Texas site, co-owned by USBTC.

Lastly, the company secured a US$50 million credit facility with Coinbase Credit on June 26.

“June has been very productive,” affirmed CEO Jaime Leverton. She expressed commitment to maintaining this momentum as the firm edges closer to finalizing the merger with USBTC.

Subscribe to our Telegram channel! Only the most interesting stuff there