{"id":481911,"date":"2022-08-06T22:34:24","date_gmt":"2022-08-06T19:34:24","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/amid-miner-capitulation-hut-8-maintained-btc-hodl-strategy-in-july\/"},"modified":"2022-08-06T22:34:24","modified_gmt":"2022-08-06T19:34:24","slug":"amid-miner-capitulation-hut-8-maintained-btc-hodl-strategy-in-july","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/amid-miner-capitulation-hut-8-maintained-btc-hodl-strategy-in-july\/","title":{"rendered":"# Amid miner capitulation, Hut 8 maintained BTC \u2018HODL strategy\u2019 in July"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34d5cc33a2f\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34d5cc33a2f\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/amid-miner-capitulation-hut-8-maintained-btc-hodl-strategy-in-july\/#%E2%80%9D_Amid_miner_capitulation_Hut_8_maintained_BTC_%E2%80%98HODL_strategy_in_July_%E2%80%9C\" >&#8221; Amid miner capitulation, Hut 8 maintained BTC \u2018HODL strategy\u2019 in July &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Amid_miner_capitulation_Hut_8_maintained_BTC_%E2%80%98HODL_strategy_in_July_%E2%80%9C\"><\/span>&#8221; Amid miner capitulation, Hut 8 maintained BTC \u2018HODL strategy\u2019 in July &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-28d77a7a>Canadian Bitcoin (BTC) miner Hut 8 Mining Corp. added to its massive BTC reserves in July, as the firm maintained its long-term \u201cHODL strategy\u201d in the face of market volatility.<\/p>\n<p>The Alberta-based company generated 330 Bitcoin in July at an average production rate of 10.61 BTC per day, bringing its total reserves to 7,736 BTC. Its monthly production rate was equivalent to 113.01 BTC per exahash, the company <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.prnewswire.com\/news-releases\/hut-8-mining-production-and-operations-update-for-july-2022-301600584.html\">disclosed<\/a> Friday.<\/p>\n<p>Hut 8, which trades on the Nasdaq and Toronto stock exchanges, is one of the largest public holders of Bitcoin, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/bitcointreasuries.net\/\">according<\/a> to industry data. <\/p>\n<p>As part of its ongoing HODL strategy, Hut 8 deposited all of its self-mined Bitcoin into custody, bucking the growing industry trend of miners selling portions of their reserves during the bear market. As Cointelegraph reported, Texas miner Core Scientific sold 7,202 BTC in June at an average price of $23,000 to pay for servers and settle debts. The company recouped 1,221 BTC the following month\u00a0after increasing its mining output by 10%.<\/p>\n<p>Meanwhile, mining outfit Argo Blockchain reduced its holdings by 887 BTC in July to settle a loan agreement with Galaxy Digital and to fund its business. Separately, Riot Blockchain trimmed its Bitcoin holdings for a third consecutive month in June to raise capital for its operations. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Antminer S19 XP dropped in a bid to swing crypto miners back into profit<\/em><\/strong><\/p>\n<p>Bitcoin mining was a highly lucrative business in 2021, as the average revenue per BTC mined was <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/financialpost.com\/fp-finance\/cryptocurrency\/hut-8-mining-sees-record-breaking-revenue-in-2021-on-bitcoin-price-rally\" data-amp=\"https:\/\/financialpost-com.cdn.ampproject.org\/c\/s\/financialpost.com\/fp-finance\/cryptocurrency\/hut-8-mining-sees-record-breaking-revenue-in-2021-on-bitcoin-price-rally\/wcm\/856b378a-920d-4521-838f-2f7def09d89a\/amp\/\">more than<\/a> four times higher than the prior year\u2019s average. With Bitcoin prices plunging in 2022, underwater miners have been forced to sell into a declining market environment.\u00a0<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-08\/f3a4398c-9651-4ae7-b402-19dd4bda4846.png\"><figcaption style=\"text-align: center;\"><em>Hut 8 (HUT) stock has mirrored the performance of Bitcoin over the past year. Source: TradingView.\u00a0<\/em><\/figcaption><\/figure>\n<p>Shares of HUT 8 rallied 3.5% on Friday to settle at $2.38. The stock is down nearly 70% year-to-date and 80% from its peak on Nov. 8, 2021, when Bitcoin was trading near $70,000.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/amid-miner-capitulation-hut-8-maintained-btc-hodl-strategy-in-july\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Amid miner capitulation, Hut 8 maintained BTC \u2018HODL strategy\u2019 in July &#8220; Canadian Bitcoin (BTC) miner Hut 8 Mining Corp. added to its massive BTC reserves in July, as the firm maintained its long-term \u201cHODL strategy\u201d in the face of market volatility. The Alberta-based company generated 330 Bitcoin in July at an average production&#8230;<\/p>\n","protected":false},"author":1,"featured_media":481912,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDgvOThiMTAyMTktM2JjYi00YTNhLTg0NWItM2FlZTlkNzUwNDNmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,74989,75042,117,70359],"class_list":["post-481911","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-bitcoin-mining","tag-mining","tag-business","tag-stocks"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=481911"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/481911\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/481912"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=481911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=481911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=481911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}