Hut 8 Mining Corp. ( Nasdaq: HUT) (TSX: HUT), one of North America's largest, innovation-focused digital asset mining pioneers and high performance computing infrastructure provider, increased its Bitcoin holdings by 375 in the period ending August 31, bringing its total self-mined holdings to 8,111 Bitcoin.
Production highlights for August 2022: 375 Bitcoin were generated, resulting in an average production rate of approximately 12.1 Bitcoin per day. Keeping with our longstanding HODL strategy, 100% of the self-mined Bitcoin in August were deposited into custody. Total Bitcoin balance held in reserve is 8,111 as of August 31, 2022. Installed ASIC hash rate capacity was 2.98 EH/s at the end of the month, which excludes certain legacy miners that the Company anticipates will be fully replaced by the end of the year. Hut 8 produced 125.8 BTC/EH in August.
In late August, Hut 8 installed 180 NVIDIA GPUs in its flagship data centre in Kelowna, B.C. Currently mining Ethereum, the multi-workload machines will be designed to pivot on demand to provide Artificial Intelligence, Machine Learning, or VFX rendering services to customers. Hut 8 is partnering with Zenlayer to bring their on-demand high-performance computing to Canadian Web 3.0 and blockchain customers for the first time.
"Our team delivered very strong results across our mining and high performance infrastructure businesses in August, positioning us well for continued success," said Jaime Leverton, CEO. "We continue to receive and install our monthly shipments of new MicroBT miners on time, while actively adding to the suite of services we offer our data centre customers."
Hut 8 is one of North America's largest innovation-focused digital asset miners, led by a team of business-building technologists, bullish on bitcoin, blockchain, Web 3.0, and bridging the nascent and traditional high performance computing worlds. With two digital asset mining sites located in Southern Alberta and a third site in North Bay, Ontario, all located in Canada, Hut 8 has one of the highest capacity rates in the industry and one of the highest inventories of self-mined Bitcoin of any crypto miner or publicly-traded company globally.
With 36,000 square feet of geo-diverse data centre space and cloud capacity connected to electrical grids powered by significant renewables and emission-free resources, Hut 8 is revolutionizing conventional assets to create the first hybrid data centre model that serves both the traditional high performance compute (Web 2.0) and nascent digital asset computing sectors, blockchain gaming, and Web 3.0.
Hut 8 was the first Canadian digital asset miner to list on the Nasdaq Global Select Market. Through innovation, imagination, and passion, Hut 8 is helping to define the digital asset revolution to create value and positive impacts for its shareholders and generations to come.