Market Cap: $2,117,087,005,935
24h Vol: $83,214,058,097
Cryptocurrencies: 29065
Markets: 113699
Cryptocurrencies: 29065
Markets: 113699
Market Cap: $2,117,087,005,935     
24h Vol: $83,214,058,097
Seeking Alpha 2023-01-06 11:38:15

Hut 8 Mining's bitcoin reserves grow by 65% Y/Y in 2022

Hut 8 Mining's bitcoin reserves grow by 65% Y/Y in 2022
Hut 8 Mining ( NASDAQ: HUT ) increased its bitcoin ( BTC-USD ) holdings by 161 in December 2022, bringing its total self-mined holdings in 2022 to 9,086 bitcoin - a 65% increase over the balance at the end of 2021. Average production rate was approximately 5.2 bitcoin per day, with 100% of bitcoin mined added to balance sheet. However, unusually high energy prices led Hut 8 ( HUT ) to curtail production and sell power back to the provider. "I am proud of the team's collective and continued grit and perseverance through headwinds that built up in late Q4 2022," said CEO Jaime Leverton. "In spite of challenging market forces, we continued growing the largest unencumbered, self-mined Bitcoin stack of any publicly traded company, welcomed our new CFO Shenif Visram, and our balance sheet first approach has us well positioned in 2023."
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