Bitcoin mining farm in Canada nets $25M profit for Q2 2019

posted about 1 year ago
Hut 8, one of the largest public Bitcoin mining farms by capacity, recorded a tremendous Q2 net profit of $25 million USD, and overall revenue for Q2 of $21 million USD.

The mining farm is listed on the Toronto Stock Exchange at $0.43 per share. Andrew Kiguel, Chief Executive Officer of Hut 8 said “We reduced our cost of mining to US $2,757… In addition, our strategy of retaining Bitcoin resulted in a gain of $22.4 million…”
Tags: bitcoin, blockchain, news