{"id":28224,"date":"2022-09-06T13:44:12","date_gmt":"2022-09-06T13:44:12","guid":{"rendered":"http:\/\/egrowonline.com\/?p=28224"},"modified":"2022-09-06T13:44:12","modified_gmt":"2022-09-06T13:44:12","slug":"hut-8-surpasses-8000-btc-mark-as-it-continues-to-hodl","status":"publish","type":"post","link":"http:\/\/egrowonline.com\/?p=28224","title":{"rendered":"Hut 8 surpasses 8,000 BTC mark as it continues to HODL"},"content":{"rendered":"


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Canadian mining firm Hut 8 saw its Bitcoin holdings surpass the 8,000 Bitcoin (BTC<\/a>) mark as it continues to accumulate self-mined holdings through depressed cryptocurrency market conditions.<\/p>\n

Hut 8 released<\/a>\u00a0its latest mining report for August 2022, increasing its Bitcoin holdings by 375 BTC for the month to take its total reserves to 8,111 BTC. Hut 8 reported that it had mined 12.1 BTC per day at a rate of 125.8 BTC per exahash for the month.<\/p>\n

While other mining operators have been forced to sell portions<\/a> of their BTC holdings amid the ongoing cryptocurrency bear market, Hut 8 has managed to continue its self-described \u201clong-standing HODL strategy\u201d and still holds all of its mined BTC.<\/p>\n

Hut 8 also announced that it had installed 180 Nvidia GPUs at its main data center in Kelowna, Canada. The center currently mines Ether (ETH<\/a>) but with\u00a0the Merge<\/a>\u00a0set to take place in September 2022, its GPU mining equipment will be used to provide artificial intelligence, machine learning or VFX rendering services.<\/p>\n

Related: Repurposing Bitcoin mining heat can solve global energy crisis: Arcane<\/em><\/strong><\/a><\/p>\n

Hut 8 has also continued increasing its mining capacity with the acquisition of Chinese ASIC MicroBT miners. The firm paid<\/a> $58.7 million for 12,000 new MicroBT M30S, M30S+ and M30S++ miners in October 2021 and has received orders of 1000 machines monthly through 2022.<\/p>\n

Industry experts have warned of the potential implications<\/a> of Ethereum\u2019s Merge on other cryptocurrencies that run on Proof-of-Work (PoW) consensus algorithms. Once Ethereum transitions to the proof-of-stake operated Beacon Chain, many miners that have secured the Ethereum blockchain will be looking to other PoW chains to continue mining. <\/p>\n

Ethereum Classic (ETC) saw its token value increase by more than 10% in early September <\/a>as blockchain explorer and mining pool operator BTC.com launched an ETC pool featuring zero-fee mining over a three-month period.<\/p>\n<\/div>\n


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Canadian mining firm Hut 8 saw its Bitcoin holdings surpass the 8,000 Bitcoin (BTC) mark as it continues to accumulate self-mined holdings through depressed cryptocurrency market conditions. Hut 8 released\u00a0its latest mining report for August 2022, increasing its Bitcoin holdings by 375 BTC for the month to take its total reserves to 8,111 BTC. Hut […]<\/p>\n","protected":false},"author":1,"featured_media":28225,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[41],"tags":[194,1196,5539,3115,1162,869],"class_list":["post-28224","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-btc","tag-continues","tag-hodl","tag-hut","tag-mark","tag-surpasses"],"jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"http:\/\/egrowonline.com\/wp-content\/uploads\/2022\/09\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvYmQ0MmFjNmItZGViZS00NTU5LWExMTAtYjA4MDhmNTY1MGMxLmpwZw.jpg","_links":{"self":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28224","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=28224"}],"version-history":[{"count":1,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28224\/revisions"}],"predecessor-version":[{"id":28226,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/posts\/28224\/revisions\/28226"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=\/wp\/v2\/media\/28225"}],"wp:attachment":[{"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=28224"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=28224"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/egrowonline.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=28224"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}