Hut 8 Mining Corporation Highlights for January 2022
Hut 8 Mining Corp recently released its January 2022 mining results along with its monthly update. Compared to the month prior, the mining hash rate was up 17% to 2.36 EH/s. The company mined a total of 308 Bitcoin, and averaged just under 10 BTC a day. Also, 16% of Hut 8's production still comes from existing GPU miners. The GPU fleet was being used to mine Ethereum while receiving payouts in Bitcoin.
From a cost perspective, the company reported that the efficient nature of the GPUs resulted in an average cost of less than $2,600 per Bitcoin mined.
Hut 8’s newest facility is currently under construction and racking installation is planned for the end of February. Once complete, the data center will be the company’s third location.
Additionally, the company has been focused on replacing its older fleet of Bitfury Clarks. Hut 8 reported that 6,317 MicroBT M30S and M31S+ miners were installed across existing sites in place of the older machines.
Jason Zaluski, Head of Technology noted, “Our goal is to always utilize the most efficient miners we have, and we have been receiving and fully deploying our MicroBT units as they arrive, which speaks to the commitment and capability of our team on the ground, here in Alberta."
Hut 8 is commonly known as one of North America’s largest innovation-focused digital asset miners. It currently maintains two mining sites located in Alberta, Canada with a third site under construction in Ontario, Canada.