Hut 8 Mining reports 14% M/M growth in August average production rate

Hut 8 Mining (NASDAQ:HUT) increased its Bitcoin (BTC-USD) holdings by 375 in the period ending August 31, leading to an average production rate of ~12.1 Bitcoin/day - up 14% from July average production rate of 10.61 Bitcoin/day.This compares to 330 bitcoins mined in July.As of Aug. 31, 2022, total bitcoin balance held in reserve was 8,111 vs. 7,736 held as of July 31, 2022.Hut 8 (HUT) produced 125.8 BTC/EH in August compared to 113.01 BTC/EH produced in July.Installed ASIC hash rate capacity was 2.98 EH/s at the end of the month, which excludes certain legacy miners that the Company anticipates will be fully replaced by the end of the year.HUT shares are trading 2% higher pre-market