Canadian Bitcoin mining company Hut 8 has announced that it mined 111 Bitcoin in September 2023, bringing its total self-mined BTC reserves to 9,366 Bitcoin. This represents an 8% increase from the previous month, although it is still significantly lower than the 147 BTC mined in May 2023. Despite the decline in mining volumes, Hut 8 has remained committed to its hodl strategy, with no Bitcoin being sold during the month. The company now holds one of the largest self-mined BTC reserves among publicly traded firms. Hut 8’s mining pace has dropped nearly 60% over the past year. The company is currently in the process of merging with US Bitcoin (USBTC) to create a new Bitcoin mining business called Hut 8 Corp, or “New Hut.” The merger deal has received final approval from the Supreme Court of British Columbia. Hut 8 CEO Jaime Leverton expressed gratitude to shareholders for their support and stated that the merger will allow the company to advance towards a new Hut 8 with highly diversified fiat revenue streams.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇨🇦 🇺🇸 |
| Sentiment | neutral |
| Relevance Score | 0 |
| People | Jaime Leverton |
| Companies | Core Scientific, Supreme Court of British Columbia, Hut 8, Riot Blockchain, US Bitcoin (USBTC) |
| Currencies | Bitcoin |
| Securities | None |
