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US Bitcoin Corp Announces July 2023 Production and Operations Updates
MIAMI--(BUSINESS WIRE)-- U.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC” or “the Company”), a leading operator of large-scale data centers for
About this update from Hut 8 Corp.
[{"type":"text","content":" MIAMI--(BUSINESS WIRE)--\nU.S. Data Mining Group, Inc. dba US Bitcoin Corp (“USBTC” or “the Company”), a leading operator of large-scale data centers for new-age workloads such as digital asset mining, today shared production and operations updates for July 2023. The Company generates revenue from self-mining, hosting, and property management services. Below are certain key production and operational metrics for July 2023, including illustrative data if the Celsius Transaction had been completed on July 1, 2023.\n\n\n\n\nOperational Metrics1\n\n\n\n\n\n\n\n\nMonth-End Miners Under Management\n\n\n\n\n\n\n189,349\n\n\n\n\n\n\n\n\nMonth-End Hashrate Under Management\n\n\n\n\n\n\n18.99 EH/s\n\n\n\n\n\n\n\n\n \n\n\n\n\nEstimated Pro Forma Operational Metrics Assuming Consummation of the Celsius Transaction2\n\n\n\n\n\n\n\n\nMiners Under Management\n\n\n\n\n\n\n311,349\n\n\n\n\n\n\n\n\nHashrate Under Management\n\n\n\n\n\n\n31.19 EH/s\n\n\n\n\n\n\n\n\n\nSelf-Mining Metrics3\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nMonth-End Miners Installed\n\n\n\n\n\n\n48,255\n\n\n\n\n\n\n\n\nMonth-End Hashrate Installed\n\n\n\n\n\n\n4.9 EH/s\n\n\n\n\n\n\n\n\n\nEnergy Metrics\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nMonth-End Megawatts Under Management1\n\n\n\n\n\n\n730 MW\n\n\n\n\n\n\n\n\nEnergy Volume Supplied for Grid Relief and Ancillary Services4\n\n\n\n\n\n\n33,580 MWh\n\n\n\n\n\n\n\n\nEnergy Sold From Echo Wind Farm into ERCOT\n\n\n\n\n\n\n3,071 MWh\n\n\n\n\n\n\n\nCommentary\n\n\n“USBTC reached a major milestone this month in its pursuit of building a resilient, diversified revenue base,” said Asher Genoot, President of USBTC. “As we continue to scale, self-mining no longer represents the primary driver of the company’s revenue stream. Hosting and property management revenues have grown significantly, creating strong revenue visibility and downside protection. At the same time, we continue to maintain significant upside potential should bitcoin run by optimizing our self-mining operations and building profit share structures into our hosting and property management agreements. In July, self-mining contributed 286 bitcoins to our portfolio.”\n\n\nCelsius Mining Operations\n\n\nOn May 25, 2023, the Company, as part of the Fahrenheit LLC coalition, won a bankruptcy auction to manage and operate the assets owned by Celsius Network LLC (“Celsius”), which includes ...