Hut 8 Mining Corp. (NASDAQ: HUT) has shared the monthly production update for January 2022. The company disclosed that its total Bitcoin balance in reserve is 5,826 as of January 31, 2022. The company has mined 308 bitcoin alone in January 2022. The average production rate is 9.93 Bitcoin per day, as per the company updates.
The company revealed that it has 100% of the self-mined Bitcoin for January. These were deposited into custody, in line with Hut 8's Hodl strategy. The company has confirmed that its team is striving to deploy additional miners between its two Alberta-based sites. This step of the company has increased overall efficiency and hash rate using existing capacity.
Furthermore, the goal of the company is to always leverage the most efficient miners it has, and it has been obtaining and fully implementing its MicroBT units as they arrive. These miners' deployments highlight the company commitment and capability of its team on the ground in Alberta.
Additionally, the company confirmed that it has deployed 6,317 MicroBT M30S and M31S+ miners, while retiring the older fleet of Bitfury Clarkes during January 2022. Moreover, Hut 8 has also progressed concerning the construction and development of the Company's third data center situated in North Bay, Ontario. The building structure is finalized, floors are being dispensed imminently and racking is likely to begin later in February 2022.