Hut 8 increased its Bitcoin stock by 65 %, but the income decreased

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Von: Krypto News Österreich

Canada -based cryptocurrency scratches - hat 8 mining - published his financial results for the year and quarter that ended on December 31, 2022.

The company managed to increase its mining production by over 28 % in the year and to increase its Fiat revenue by 16.9 million CAD. However, it was still not spared the suppression of the Bitcoin price, fluctuating electricity prices and increased network difficulties.

  • The income of HUT 8 was in the financial year, which ended on December 31, 2022, by over 13 % back to $ 150.7 million, compared to $ 173.8 million in 2021.
  • On the positive side, the company reduced 3,568 Bitcoin last year. This was an increase of 28.1 % compared to 2021, which is due to an increase in the hash rate by expanding its fleet of miners and mining activities.
  • In a statement, the company CEO, Jaime Leverton, emphasized that 2022 was a challenging time for the entire industry, believes that his company "did well". The managing director added:

"With a view to the future, we will continue to maintain these operating principles while we are working on completing our company merging with USBTC and operating as a company based in the USA for digital asset mining, hosting, managed infrastructure mode and high-performance computing."

  • Hut 8 kept a total of 9,086 with a market value of $ 203.6 million in custody by the end of 2022, which it described as "dismantled, unencumbered".
  • In addition, 100 % of the self -made bitcoins were kept up to Q4.
  • The mining profit was recorded for the year with 60.4 million CAD, which corresponds to a decline of over 44 % compared to 108.1 million CAD in 2021, which is mainly due to a lower average Bitcoin price and increased average electricity costs, said the company.
  • hut 8 mining announced fusion plans with US Bitcoin last month to found Hut 8 Corp or "New Hut".

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