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 <p class="is-style-lead">North American digital asset miner Hut 8 revealed that it mined 111 Bitcoin in September, or an average production rate of approximately 3.7 Bitcoin a day.</p>
 <p>This brings the total of self-mined BTC <a rel="noopener noreferrer nofollow" title="reserve" href="https://thebittimes.com/tag/reserve.html">reserve</a>s to 9,366, an 8% increase over the previous month.</p>
 <h2 class="wp-block-heading" id="growing-reserves">Growing reserves</h2>
 <p>At the time of writing, Bitcoin currently sits just above $27,000, making the total <a rel="noopener noreferrer nofollow" title="reserve" href="https://thebittimes.com/tag/reserve.html">reserve</a> amount $258 million.</p>
 <p>Despite showing growth between months, the amount of Bitcoin mined is down year-over-year, although numbers are comparable to earlier this year where 147 Bitcoin were reported mined in May at the same time 179 BTC&nbsp;were sold.</p>
 <p>Alongside the production report, Hut 8 reports a hashrate capacity in Hut 8’s Alberta facilities as being 2.6 EH/s towards the end of the month, with production marked at 42.7 BTC/EH.</p>
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 <p>The&nbsp;press release&nbsp;also reports that no Bitcoin was sold during the month of September, suggesting a holding strategy.</p>
 <h2 class="wp-block-heading" id="the-merger-of-equals">The merger of equals</h2>
 <p>This news follows the earlier announcement in February that Hut 8 and USBTC entered a “merger of equals” deal to create the entity Hut 8 Corp, in an agreement that would give the miner access to more energy.</p>
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 <p>While the press release reports the merger is a success, the rest of the <a rel="noopener noreferrer nofollow" title="bitcoin" href="https://thebittimes.com/tag/bitcoin.html">bitcoin</a> <a rel="noopener noreferrer nofollow" title="mining" href="https://thebittimes.com/tag/mining.html">mining</a> industry continues to share news of advancements in renewable energy, as part of a larger trend to limit the environmental impact of miners.</p>
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  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> Venezuela authorities seize Bitcoin mining machines from notorious prison
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/hut-8-surpasses-9-3k-bitcoin-reserves-in-self-mining-milestone-tbt65836.html">https://thebittimes.com/hut-8-surpasses-9-3k-bitcoin-reserves-in-self-mining-milestone-tbt65836.html</a></p>

Hut 8 surpasses 9.3k bitcoin reserves in self-mining milestone

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TheBitTimes

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