Cryptominer Hut 8 Mining (NASDAQ:HUT) mined 131 Bitcoin (BTC-USD) for the month of March, taking the company’s BTC stash to 9,133. This is the largest amount of self-mined BTC held by a public company in reserve.
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During the month, HUT produced an average of 4.2 BTC every day. While mining BTC has gotten difficult and expensive, the company clocked a 2.6 EH/s ASIC hash rate at its Alberta facilities.
Further, HUT has also initiated remediation testing at its Alberta site and noted that its USBTC transaction remains on track.
BTC has rallied a massive 68% so far this year, boosting the value of HUT’s reserves in the process. The company sold 240 BTC in March potentially indicating an opportunistic move.
The crypto market is becoming buoyant again and for BTC, which is hovering at $28,556 today, $30,000 is a key level from June last year to scale past next.
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