.Hut8Mining $HUT continues to hodl 100% of its mined bitcoin even as a number of its peers have begun selling off their corn to help cover expenses. Aoyon_A reports.
Hut 8 also concluded its bitcoin yield program in which it hadout 1,000 BTC to Genesis at an interest rate of 2%, and 1,000 BTC to Galaxy at 2.25%. This brings those 2,000 bitcoin back into the custody of Hut 8.
As of May 31, the company held 7,078 bitcoins in its reserves. At a price of $30,000 per coin, this has a value of $212.3 million vs. Hut 8’s market cap of $400 million . Also as of May 31, Hut 8’s installed operating capacity was 2.64 exahash per second . Operations began at the company’s third mine in North Bay, Ontario on June 2, adding about 400 petahash per second to capacity .
Shares of the miner were flat on Monday morning despite a modest bounce in the price of bitcoin. Hut 8 is off about 71% year-to-date, inline with most of its mining peers.
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