Hut 8 Mining Reveals Second Quarter Revenue As Almost Quadrupled.

Hut 8 Mining Reveals Second Quarter Revenue As Almost Quadrupled.

2021-08-12 | Robin Williams

Hut 8 Mining Reveals Second Quarter Revenue As Almost Quadrupled.

Canadian leading cryptocurrency mining firm Hut 8 Mining revealed second-quarter revenue almost quadrupled to C$33.5 Mln [$27 Mln] from the year before. Operating profit tripled to C$8.1 Mln [$6.5 Mln], the firm revealed within an official announcement. The firm predicted that it'll mine as many as 22 bitcoins each day within the fourth quarter as new machines are deployed, and forecast daily production of 14-16 bitcoins each day within the third quarter, consistent with a presentation on its website. By the end of the year, it's estimated that it'll have 144 MW of power available for mining which will also indeed grow 45% to 209 MW by the end-2022.

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