Canadian Bitcoin (BTC) mining company Hut 8 Miningincreased its earnings with its long-term strategy despite challenging market conditions.
While many mining companies sell their equity Hut 8succeeded in raising its capital.
Hut 8 Continues HODL
The bear period continues to push the cryptocurrency market and companies. Companies are trying to continue their operations by taking precautions against this situation in the market. Although many companies are looking for a solution by selling their assets during this period, Hut 8 He chose not to sell his assets. This strategy led the company to increase its assets.
In the report, which was announced at the end of the August period, Canadian mining company Hut 8 bitcoin(BTC) 375 units in existence BTCincreased it to 8,111 Bitcoins.
Hut 8 August 375 bitcoin generated, which equates to 12.1 Bitcoins per day. Hut 8 has locked all 375 Bitcoins it has mined as part of the HODL strategy it has been following for a long time. Thus, the number of Bitcoins held by the company in reserve was 8,111 BTC as of August 31. The company’s installed ASIC hash rate capacity was recorded as 2.98 EH/s at the end of the month.
