Hut 8: The Struggles of One of Canada’s Largest Miners
CoinDesk Research presents an in-depth look into one of the largest publicly listed mining companies, Hut 8.
Like the employees forced to choose sides, Bitmain customers have been caught in the middle of the power struggle at the No.1 bitcoin miner manufacturer.
A slowly rising bitcoin price might not help some miners run profitable operations now that the halving is in the past.
Bitcoin mining firm Hut 8 reported a sharp drop in revenue. However, the rising value of the firm's BTC holdings helped it finish the quarter in the black.
Bitcoin mining difficulty increased to 16.10 trillion (T) on Tuesday, close to the network’s all-time high of 16.55T recorded in March.
Bitcoin mining firm Argo Blockchain said an 11-fold increase in revenues shows pivoting away from mining-as-a-service was a good move for the company.