Hut 8 surpasses 8,000 BTC mark as it continues to HODL

While some mining business have actually needed to sell a part of their BTC holdings in the existing cryptocurrency bearishness, Hut 8 handled to keep its “long-standing HODL Strategy” and keep all its mined BTC.

Canadian mining company Hut 8s Bitcoin holdings exceeded the 8,000 Bitcoin mark (BTC). It continues to build self-mined holdings in depressed cryptocurrency markets.

Hut 8 likewise announced the installation of 180 Nvidia GPUs in its primary data center in Kelowna (Canada). The center currently mines Ether (ETH), but the Merge is set for September 2022. It will utilize its GPU mining devices to supply expert system and artificial intelligence, or VFX rendering services.

Hut 8s August 2022 mining report revealed a boost of 375 BTC in its Bitcoin holdings, bringing its overall reserves up to 8,111 BTC. According to the mining business, it mined 12.1 BTC each day at a rate 125.8 BTC/exahash for the month.

Related: Arcane: How Bitcoin mining heat can be used to resolve the international energy crisis

Ethereum Classic (ETC), a token of the blockchain explorer and miner swimming pool operator BTC.com, saw its token worth increase by more than 10% in September. The pool was zero-fee over a three month duration.
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Hut 8 continues to increase its mining capacity by getting Chinese ASIC MicroBT miners. In October 2021, the company bought 12,000 MicroBT M30S, M30S+, and M30S++ miner units. The business has actually considering that gotten 1000 orders per month through 2022.

Hut 8 also revealed the setup of 180 Nvidia GPUs in its main data center in Kelowna (Canada). It will use its GPU mining equipment to offer artificial intelligence and device learning, or VFX rendering services.

Market professionals cautioned about the possible repercussions of Ethereums Merge for other cryptocurrencies that use proof-of-work consensus algorithms. Numerous miners who secured Ethereums blockchain will aim to other PoW chains in order to continue mining once the Ethereum blockchain is switched to the proof of-stake-operated Beacon Chain.

Hut 8 continues to increase its mining capability by obtaining Chinese ASIC MicroBT miners.

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