Business
Hut 8 Operations Update for July 2024
18.0 EH/s and 762 MW under management in mining Announced plans for a 205 MW site in Texas MIAMI, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX:
About this update from Hut 8 Corp.
[{"type":"text","content":"18.0 EH/s and 762 MW under management in mining Announced plans for a 205 MW site in Texas MIAMI, Aug. 05, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today released its operations update for July 2024. “We are continuing to see the impact of our ongoing optimization efforts in our self-mining business,” said Asher Genoot, CEO of Hut 8. “Our average energy cost has declined materially since bringing Salt Creek online and completing the planned deployment of our curtailment software, and we continue to build and refine our data science platform to drive further efficiencies and margin expansion.” “We also announced the first conversion from our previously announced pipeline of energy capacity under exclusivity, a site in the Texas Panhandle located adjacent to a windfarm with 205 megawatts of immediately available power capacity. The site will be able to pull power directly from the ERCOT grid when the wind farm is not generating power. Across our platform, we now own or manage energy infrastructure representing access to 1.3 gigawatts of power capacity. We look forward to sharing more details on this site and our second quarter 2024 results during our earnings call on August 13th.” Highlights: Announced plans for a site in Texas with 205 MW of immediately available power capacityFurther progress in developing Cedarvale, with new capacity being brought online in tranches of 50 MW Operating Metrics Average during the period unless otherwise notedJuly 2024June 2024Total energy capacity under management1,2,3762 MW762 MWTotal deployed miners under management4174.2K172.1KTotal hashrate under management518.0 EH/s17.8 EH/s Self-Mining6 Deployed miners758.2K58.4KDeployed hashrate85.5 EH/s5.7 EH/sBitcoin produced1,9105 BTC107 BTCBitcoin on balance sheet19,102 BTC9,105 BTC Managed Services2,10 Energy capacity under management1582 MW582 MWDeployed miners under management125.4K123.1KHashrate under management13.4 EH/s13.1 EH/s Hosting Deployed miners under management11,1276.7K76.7KHashrate under management138.5 EH/s8.4 EH/s Energy Infrastructure Platform1 Current Revenue Stream(s)14SiteLocationOwnerPower CapacitySelf-MiningManaged ServicesHostingHPCPower SalesExpansion Site ...