Hut 8 Mined 3,568 BTC in 2022

Hut 8 Mining’s revenue amounted to 150.7 million CAD ($109 million) last year, a decrease of $23.1 CAD from the previous period.

Despite this, the firm was able to mine 3,568 BTC – 28% more than the previous year – and increase their cryptocurrency reserves to 9086 BTC, a 64.7% increase.

This was due to their increased equipment fleet and hash rate, which included 21,455 new ASIC miners from MicroBT.

At the end of the year, Hut 8’s computing power was 2.5 EH/s. However, they have been in a legal battle since January 2023 with their North Bay (Ontario) electricity provider due to alleged unpaid amounts.

In February, Hut 8 and US Bitcoin announced a merger to form Hut 8 Corp, with its combined hashrate being 5.6 EH/s in six mining centers.