North American bitcoin miner, Hut 8, mentioned it mined 148 bitcoins, or 36% cash much less in April than it did in March. Hut 8 primarily attributes the lower within the variety of mined bitcoins to the relocation of its proprietary miners, which have been beforehand hosted on the Kearney and Granbury websites.
The Halving Impact
Hut 8, certainly one of North America’s largest bitcoin miners, lately disclosed that its proprietary manufacturing for April fell by 36% to 148 bitcoins (BTC). The miner’s output for April suggests a realized hashrate of three.44 EH/s, which is 51% decrease than the 6.27 EH/s achieved in December following Hut 8’s merger with USBTC.
A report in The Miner Magazine attributes the drop in Hut 8’s output primarily to the relocation of proprietary miners beforehand hosted on the Kearney and Granbury websites. Rival miner Marathon bought these websites from Generate Capital for $178.6 million in late December 2023. Earlier this 12 months, Marathon reportedly paid Hut 8 a termination payment of $13.5 million to finish the latter’s tenancy contract.
The report additionally cited the current BTC halving, which resulted in a 6% to 12% decline in key miners’ respective outputs, as one of many causes for the drop within the variety of bitcoins mined by Hut 8 in April.
Hut 8 Achieves Self-Mining Hashrate of 5.5 Exahash per Second
In remarks accompanying Hut 8’s operations replace for April 2024, CEO Asher Genoot introduced that the Bitcoin miner has accomplished the relocation course of and has even added new mining capability.
“Amidst the backdrop of the halving, the operational capabilities of our workforce enabled us to maximise deployed hashrate as we accomplished the relocation of our fleet from hosted to owned services and introduced new capability on-line,” the Hut 8 CEO mentioned.
Genoot acknowledged that in simply over three months, Hut 8 had energized 63 megawatts, totaling almost 18,000 miners. In consequence, the present self-mining hashrate is at 5.5 exahash per second (EH/s), he mentioned. The CEO additionally disclosed that the Bitcoin miner had partially energized a website in Ward County, Texas, which has a capability of 215 megawatts.
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