Hut 8 reports June bitcoin produced 107 BTC vs. 91 BTC in May

CEO Asher Genoot states: “Our corporate development team made significant progress this month advancing the expansion opportunities in our previously announced pipeline of more than 1,100 megawatts of energy capacity under exclusivity. We believe our recently announced investment from Coatue has further strengthened our positioning with potential site development counterparties, and we are excited to share more as projects develop and convert. We continue to optimize our existing assets, including our self-mining sites and five high performance computing data centers, for Bitcoin mining or AI workloads. At Salt Creek, for example, our team launched and completed initiatives to fortify the upstream electrical infrastructure supporting the facility. We expect our optimization initiatives to drive greater site longevity and productivity as we scale our data center portfolio. In parallel, we are actively engaged in discussions regarding upgrades to our miner fleet. Commercialization efforts for our new AI vertical are also progressing nicely, including the assembly of our first GPU cluster and fit-out of our data center suite. More than half of our 1,000 NVIDIA H100 GPUs have been configured and are now undergoing testing at the manufacturer’s facility. We are on track to go live in H2 and begin generating revenue at a forecasted annual rate of approximately $20 million.”