Hut 8 Sticks to Its ‘Hodl’ Strategy After Mining 265 Bitcoins in November

Posted on by American Coins & Gold

Hut 8 Sticks to Its ‘Hodl’ Strategy After Mining 265 Bitcoins in November
Canadian crypto miner Hut 8 (HUT) deposited into custody all 265 bitcoins it mined in November, continuing its strategy of “hodling” on to all the coins it produces.The miner now holds 5,242 bitcoins in its reserve, about an 11% increase from its last update on Nov. 11. Hut 8 also said it has completed the deployment of its high-performance Nvidia chips at Hut 8′s site in Medicine Hat, Alberta, which is generating roughly 1.8–2.0 additional bitcoins per day. The miner is currently generating a total of 8.8 bitcoins per day.“Our NVIDIA CMP deployment is contributing revenue of approximately C$140,000 [USD$109,000]…