Odaily Planet Daily News Bitcoin mining company Hut 8 Mining released its Q2 financial report, with quarterly revenue of $19.1 million, of which $4.2 million came from high-performance computing (HPC) business. in:
- Revenue decreased to $19.2 million for the period ended June 30, 2023, compared to $43.8 million for the second quarter of 2022;
- As of June 30, 2023, the company has mined 399 bitcoins, a decrease of approximately 58% compared to the second quarter of 2022, mainly due to the decrease in mined bitcoins due to the increase in the average bitcoin network difficulty. Suspension of operations at the company's Bay plant and ongoing power issues at the company's Drumheller plant;
- High Performance Computing (HPC) business generated primary monthly recurring revenue of $4.2 million in the second quarter of 2023, compared to $4.7 million in the second quarter of 2022;
- As of June 30, 2023, the computing power was 2.6 EH/s (excluding the North Bay factory), and the total balance of self-mined bitcoins hosted or pledged by the company was 9,136. In the second quarter of 2023, 399 bits were mined Coin, selling 396 bitcoins, made $14.7 million in proceeds.