Hut 8 Mining reports 16% growth in March self mined bitcoin

Hut 8 Mining (NASDAQ:HUT) reported 345 Bitcoin mined during March 2022 which led to an average production rate of 11.1 Bitcoin/day; 100% of self-mined bitcoin were deposited into custody. This is in comparison to 298 bitcoin mined for February leading to an average of 10.3 bitcoin/day. Ethereum mining generated ~13% of total production, at an average cost of less than C$2.6K/bitcoin. As of Mar.31, 2022, total Bitcoin balance held in reserve stood at 6,460 while installed operating capacity currently sits at 2.54 EH/s. During the month, the company installed 560 new MicroBT M30S and M31S+ miners. "Our orders from MicroBT are arriving as scheduled, we are experiencing consistent growth in our MicroBT Authorized Repair Centre," Head of Technology Jason Zaluski commented. Shares trading 2.2% higher premarket.