Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

Mining company Hut 8 published a report on a 36% decrease in Bitcoin mining

Mining: Mining company Hut 8 published a report on a 36% decrease in Bitcoin mining

Canadian mining company Hut 8 has presented its results for the month of April 2024. As reported by The Miner Mag, the company successfully mined 148 BTC during this period.

Compared to the previous month, the number of bitcoins mined by the corporation decreased by 36%. The achieved #hashrate of Hut 8 was 3.44 EH/s, which is 51% lower than the peak of 6.27 EH/s achieved in December 2023 after the merger with mining company USBTC.

Similarly, other participants in the bitcoin mining sector such as #Cipher, #CleanSpark, #Riot and #Core Scientific have also announced a decline in mining output in April 2024. However, the drop in their performance ranged from 6 to 12%.

According to the official statement, the main factor contributing to the decline in bitcoin mining activity was the relocation of infrastructure located in Kearney, Nebraska and Granbury, Texas. These facilities collectively have an operating capacity of 390 MW.

Hut 8 CEO Asher Genuth noted that the company moved more than 25,000 #ASIC devices in April. The company's management claims that such actions minimized the downtime of the mining facilities.

In addition, the slowdown in performance could have been affected by the #halving bitcoin event that occurred on April 20. However, according to the information provided, a temporary spike in network fees helped mitigate the loss.

The report states that Hut 8's total capacity has increased to 1 GW. Back in December 2023, the bitcoin mining company announced plans to build a new 215 MW facility in Texas.

Meanwhile, the #difficulty of the mining process has once again reached a record high. On April 24, it rose to 88.1T.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Make crypto bots for trading
Press Releases: EvoSim Universe, A Novel Mobile-Data Monetisation App, Reaches 10,000 Unique Wallet Addresses, Accelerating Adoption Across the Globe
Dubai, United Arab Emirates, 15 July – EvoSim Universe has reached a significant milestone, with 10,000 unique wallets now registered on its platform..
Press Releases: Exploring Demo Trading in Cryptocurrency: A Guide for Beginners from Exchange
In the fast-paced world of cryptocurrency trading, where fortunes can be made or lost in minutes, demo trading stands as a crucial tool for both beginners and experienced traders alike..
Press Releases: Mind Network Alpha Mainnet Launch: A Fully Homomorphic Encryption Driven Restaking Layer for AI and POS Networks
We are excited to announce the Alpha Mainnet launch of Mind Network, a Restaking Layer that leverages Fully Homomorphic Encryption (FHE) technology and is designed to enhance the security..
Press Releases: Brett Launches its $BRETT Memecoin on TON Blockchain With a Splash of Fun and Humor
Brett, a leading memecoin sensation platform, has announced the launch of its $BRETT memecoin on TON (The Open Network) blockchain, inspired by Matt Furie’s quirky character, Brett..