Ms. Jaime Leverton reports
HUT 8 MINING BITCOIN HOLDINGS SURPASS 3,012 VALUED AT $186M CAD
Hut 8 Mining Corp.'s bitcoin balance of 3,012 as of the end of day on Tuesday, Feb. 16, 2021, is valued at $186-million.
Hut 8, one of North America's oldest and highest-installed-capacity Canada-based bitcoin miners, has provided the following results:
Hut 8 holds 3,012 bitcoin on its current balance sheet as of 5 p.m. ET on Tuesday, Feb. 16, 2021, including 1,000 bitcoin in a Genesis savings account generating a 4-per-cent yield in fiat.
Hut 8 holds more self-mined bitcoin that any other publicly traded bitcoin miner in the world.
Hut 8 currently has 1,073 petahashes per second and 109 megawatts of power in production, making Hut 8 one of the highest installed capacity miners in the western hemisphere.
Based on current network difficulty and Hut 8's current output, the bitcoin production is calculated at approximately 6.8 bitcoin per day.
"Our commitment to hodling bitcoin is at the core of our strategy in creating incremental value for Hut 8 investors," said Jaime Leverton, chief executive officer of Hut 8. "I am proud of our position as a leading bitcoin miner globally and celebrate our substantial bitcoin balance as a testament to the strength and efficiency of our mining and executive leadership teams. We will continue to manage our operations to prevent the need to sell any of the bitcoin we mine for the foreseeable future."
At present, Hut 8's stock is up by 438.5 per cent year to date and its Alberta mining facilities are currently operating at 1,073 petahashes per second, after a successful install of an additional 35 petahashes per second.
The miner has increased its power capacity to 109 megawatts, making Hut 8 the second-highest-installed-capacity bitcoin miner of the public companies in the western hemisphere.
About Hut 8 Mining Corp.
Hut 8 is one of Canada's oldest and largest bitcoin miners, providing value for investors through low production costs and appreciation of its bitcoin inventory. The company provides investors with direct exposure to bitcoin without the technical complexity or constraints of purchasing the underlying cryptocurrency. Investors avoid the need to create on-line wallets, wire money offshore and safely store their bitcoin.
The company's common shares are listed under the symbol HUT on the Toronto Stock Exchange and as HUTMF on the OTCQX.
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