Hut 8 Mining reports 10.4% drop in April mined bitcoin

Hut 8 Mining (NASDAQ:HUT) reported 309 bitcoin mined in April 2022 leading to average production rate of 10.3 Bitcoin per day; this is compared to 345 Bitcoin mined in March with average production rate of 11.1 Bitcoin/day. Ethereum mining – for which the company's receive payment in Bitcoin – generated ~15% of total production, at an average cost of less than C$3200/bitcoin. 100% of the self-mined Bitcoin for April were deposited into custody, consistent with Hut 8's HODL strategy. As of Apr.30, 2022, total bitcoin held in reserve stood at 6,769. Installed operating capacity currently sits at 2.58 EH/s. Shares trading 2.5% down premarket.