Hut 8 mining operator continues to hold more than 8,000 BTC

A Canadian mining company has survived the most difficult stages of the market and continues to hold its Bitcoins.

Who better than a mining company to be aware of the cyclical nature of the crypto market. While some companies transfer their Bitcoins to the exchange, with the option to sell them out quickly, others believe in the future euphoria of the market.

We are talking about the Canadian mining company Hut 8. Its stock exceeded 8,000 Bitcoins, that's about $151 million. After that, you can read the skeptics' articles about mining being terribly unprofitable and not environmentally friendly. Though you can argue with the second one, too...

According to last month's report, the company's bitcoin holdings increased by 375 BTC to 8,111 BTC. The mining company reported that it mined 12.1 BTC daily for the month at a rate of 125.8 BTC per exacash. Hut 8 continued its self-described "long-standing HODL strategy" and retained all the BTC it mined.

The company also continues to increase its mining capacity by purchasing Chinese ASIC miners.