Hut 8 Maintains ‘Hodl’ Strategy After Mining 265 Bitcoin In November

  • Hut 8 mined 256 bitcoin in November.
  • The Canadian miner has deposited all the BTC it scooped last month into custody, maintaining its “hodl” strategy.
  • Hut 8 now holds 5,242 bitcoin in reserve.

Canadian bitcoin mining company Hut 8 deposited all of its 256 bitcoin mined in November into custody, the company said in a statement Thursday. The miner embarked on a “Hodl” strategy earlier this year and currently holds 5,242 BTC in reserve.

Hut 8 also said it is leveraging Luxor pool to increase its daily BTC revenue. Luxor Technologies provides a profit-switching tool that allows miners to maximize rewards by employing computing power to other blockchains while receiving payouts in bitcoin. Hut 8 said it had completed the deployment of its NVIDIA chips at its Medicine Hat, Alberta, facility.

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