Canadian mining firm Hut 8 saw its Bitcoin holdings exceed the 8,000 Bitcoin (BTC) mark because it is constantly on the accumulate self-found holdings through depressed cryptocurrency market conditions.
Hut 8 released its latest mining report for August 2022, which demonstrated it had elevated its Bitcoin holdings by 375 BTC for that month to consider its total reserves to eight,111 BTC. The mining firm a reported it had found 12.1 BTC each day for a price of 125.8 BTC per exahash for that month.
While other mining operators have been made to sell portions of the BTC holdings among the continuing cryptocurrency bear market, Hut 8 has were able to continue its self-described “long-standing HODL strategy” but still holds all its found BTC.
Hut 8 also announced it had installed 180 Nvidia GPUs at its primary data center in Kelowna, Canada. The middle presently mines Ether (ETH) but with the Merge set to occur in September 2022, its GPU mining equipment will be employed to provide artificial intelligence, machine learning or VFX rendering services.
Related: Repurposing Bitcoin mining heat can solve global energy crisis: Arcane
Hut 8 has additionally ongoing growing its mining capacity using the purchase of Chinese ASIC MicroBT miners. The firm compensated $58.seven million for 12,000 new MicroBT M30S, M30S+ and M30S++ miners in October 2021 and it has received orders of 1000 machines monthly through 2022.
Skillfully developed have cautioned from the potential implications of Ethereum’s Merge on other cryptocurrencies running on proof-of-work (Bang) consensus algorithms. Once Ethereum transitions towards the proof-of-stake operated Beacon Chain, many miners that guaranteed the Ethereum blockchain is going to be searching with other Bang chains to carry on mining.
Ethereum Classic (ETC) saw its token value increase by greater than 10% at the begining of September as blockchain explorer and mining pool operator BTC.com launched an ETC pool featuring zero-fee mining more than a three-month period.
