Hut 8, a prominent bitcoin miner in North America, has reported a significant drop in its production for April. The company mined 148 bitcoins, which is 36% less than its output in March. This decline is primarily attributed to the relocation of Hut 8’s proprietary miners, which were previously hosted at the Kearney and Granbury sites.
The decrease in production can also be attributed to the recent halving event, which resulted in a decline of 6% to 12% in the output of key miners. This event has had an impact on Hut 8’s mining operations.
Despite these challenges, Hut 8 has made progress in its operations. CEO Asher Genoot announced that the company has completed the relocation process and has even added new mining capacity. This has allowed Hut 8 to achieve a self-mining hashrate of 5.5 exahash per second (EH/s). In just over three months, the company has energized 63 megawatts, bringing the total number of miners to nearly 18,000. Additionally, Hut 8 has partially energized a site in Ward County, Texas, which has a capacity of 215 megawatts.
Overall, Hut 8 remains optimistic about its future prospects in the bitcoin mining industry. Despite the challenges posed by the relocation of its miners and the impact of the halving event, the company has managed to maintain a strong operational capability and is focused on maximizing its mining capacity.
