Hut 8 Mining Corp Mines 132 BTC in Apr 2023 by Investing.com

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Hut8 Mining Corp. (Nasdaq: HUT) mined 132 bitcoin in the period ended April 30, 2023.

Production highlights April 2023:

132 bitcoin generated, resulting in an average production rate of about 4.4 bitcoin Per day.
The total unencumbered balance bitcoin Held in reserve as of April 30th is 9,265.
Our proven ASIC segmentation capacity is at Alberta Utilities were 2.6 EH/sec at the end of the month.
Hut 8 generated 50.77 BTC/EH in April.
no bitcoin It was sold within the month.

Operational features:

treatment in our area Drumheller, Alberta Site progress over the month:
High energy input levels at the site have caused equipment failures which have significantly reduced operations, which is currently around 15% of our installed hash rate at the site.
In response, we have begun implementing firmware across all of our miner models that is designed to lower the maximum power supply output voltage, ensuring that our hardware is running within safe limits.
Our team is actively involved in repairing damaged equipment and restoring fragmentation to an optimal level.
We are monitoring the situation closely and will continue to make necessary adjustments as needed to restore, protect and improve our equipment.
We are actively increasing repair staff, adding an extra shift at the repair center, and have purchased new hardware to expedite repairs and accelerate the speed at which we get miners back online.
We expect the site to be back in 10-12 weeks.
Energy surges have created additional headwinds in the drum.
Our team is actively pursuing options for employment for the bulk of the approximately 7,000 miners who have been excluded from our region. North Bay location.

“We are very aware of the impact of these issues drum On the broader business: it is complex and challenging, but we have made meaningful progress and have a roadmap to address.” Jaime LevertonCEO of Hut 8. “We are focused on closing the proposed transaction with the United States bitcoin Corp. , which will expand our total production to 7.02 EH/s and provide access to additional energy markets. “

around the cottage 8

Hut 8 is one of North America’s largest innovation-focused digital asset mining companies, led by a team of expert business building technologists. bitcoin, blockchain and Web 3.0 and bridging the emerging and traditional high-performance computing worlds. With two operational digital asset mining sites located in southern Alberta, Hut 8 has one of the highest capacity rates in the industry and one of the highest unstressed, self-exploiting inventories. bitcoin Any digital asset mining or publicly traded company worldwide. With more than 36,000 square feet of geographically diverse data center footprint and cloud capacity connected to electric grids powered by renewable and zero-emissions resources, Hut 8 revolutionizes traditional assets to create the first hybrid data center model serving both traditional high performance computing (Web 2.0) and emerging digital asset computing, blockchain gaming, and Web 3.0 sectors. Hut 8 was the first Canadian digital asset miner to be listed on the Nasdaq Global Select Market. Through innovation, imagination and passion, Hut 8 helps define the digital asset revolution to create value and positive impact for its shareholders and future generations.

A note of caution regarding forward-looking information

This press release contains “forward-looking information” and “forward-looking statements” within the meaning of the Canadian securities laws and the United States securities laws, respectively (collectively, “forward-looking information”). All information, other than statements of historical fact, included in this press release that addresses activities, events or developments that the Company anticipates or anticipates will occur or may occur in the future, including such things as future business strategy, competitive strengths, objectives, expansion and growth of the business The Company and its operations, plans and other such matters are forward-looking information. Forward-looking information is often identified by the words “may,” “will,” “could,” “should,” “will,” “intend,” “plan,” “anticipate,” “allow,” “believe,” Estimate”, “anticipate”, “anticipate”, “could”, “maybe”, “likely”, “expect”, “designed for”, “likely” or similar expressions. In addition, any statements in this press release that indicate expectations, projections, or other descriptions of future events or conditions contain forward-looking information and include, among other things, statements regarding: bitcoin network dynamics; the company’s ability to develop a long-term HODL strategy; The company’s ability to produce more bitcoin and maintain current throughput rates across all sites; the company’s ability to deploy additional miners; the company’s ability to continue mining digital assets efficiently; Sell the company bitcoin the production and proposed use of the proceeds from this sale; The Company’s plans regarding the revitalization of miners who have been excluded from North Bay facility the company’s expected recurring revenue and growth rate from its HPC business; Addressing operational issues in the company drum the facility and its timing; The company’s expectations regarding the closing of the transaction with the United States bitcoin a company ; and the company’s ability to successfully navigate the current market.

Statements containing forward-looking information are not historical facts, but instead represent management’s expectations, estimates, and projections regarding future events based on certain material factors and assumptions at the time the statement was made. While Hut 8 is reasonable as of the date of this press release, such statements are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results, level of activity, performance or achievements to differ materially from those expressed or implied Through such forward-looking information, including without limitation, threats to security, cybersecurity, hacking, malicious actors or bots that control the processing power on bitcoin Network, continue to develop and accept bitcoin network, it changes to bitcoin Mining difficulty, loss or destruction of private keys, increases in Blockchain transaction logging fees, erroneous transactions, dependence on a limited number of key personnel, dependence on third party mining pool service providers, regulatory changes, changes in classification and taxation, momentum pricing risks and fraud failures related to exchanging digital assets, difficulty in obtaining banking and financing services, difficulty in obtaining insurance, permits and licenses, internet and power outages, geopolitical events, uncertainty in the development of encryption protocols and algorithms, uncertainty about widespread acceptance or use of digital assets, and failure to anticipate Technological innovations, COVID19 pandemic, climate change, currency risks, lending risks and potential loss recovery, litigation risks, business integration risks, changes in market demand, changes in network and infrastructure, system outages, changes in leasing arrangements, failure to realize the intended benefits of power purchase agreements, possible delivery disruption, or suspension of power delivery to the Company’s mining sites, and other risks related to the digital assets and data center business. For a full list of factors that could affect the Company, please see the “Risk Factors” section of the Company’s Annual Information Form dated March 17, 2022and other Hut 8 continuing disclosure documents available in the company profile on the Electronic Document Analysis and Retrieval System at www.sedar.com And on the Edgar section of US Securities and Exchange Commissionwebsite of www.sec.gov.

These factors are not intended to provide a complete list of factors that can affect Hut 8; However, these factors should be carefully considered. There can be no assurance that these estimates and assumptions will prove correct. Should one or more of these risks or uncertainties materialize, or if the assumptions underlying the forward-looking statements prove incorrect, actual results could differ materially from those described in this press release as intended, planned, expected, believed, endeavored, proposed, estimated, anticipated or anticipated, predicted or intended, and such forward-looking statements included in this press release should not be placed undue reliance. The effect of any assumption, risk, uncertainty or other factor on a particular forward-looking statement cannot be determined with certainty because they are interdependent and Hut 8’s future decisions and actions will depend on management’s evaluation of all information in a timely manner. The forward-looking statements in this press release were made as of the date of this press release, and Hut 8 expressly disclaims any obligation to update or change statements containing any forward-looking information, or the factors or assumptions behind them, whether as a result of new information, future events or Otherwise, except as required by law.

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