Canadian Bitcoin Mining Firm Record-High Revenue in Q3 2018

When it comes to earning through cryptocurrency, Bitcoin mining is the center of attention these days. Reports revealed that Canada’s largest Bitcoin mining company, Hut 8 has mark high revenue during Q3 2018.

A report published on November 08, 2018 shows the financial state of Hut 8. It has reached a record high of $13.5 million for the third quarter. Hut 8 is the largest Bitcoin mining company of Canada which has marked 27.7 million for the nine months starting from Jan 2018.

Cost and Revenue Estimation

However, the cost of mining a single Bitcoin seems lower than the current Bitcoin price. Significantly, the cost of Bitcoin mining come into view of $3394 in Q3 in against the present value of Bitcoin of $6400. Reports claim that the mining profit for Q3 estimated around $6.6 million which points Hut 8 as one of the lowest cost BTC mining firm in the world. On top of all, the profit margin it sets was 51 percent, while mining around 1000 BTC since its launch in December 2017.


Read Full Story : Coingape

2018-11-09 08:00:33

You Might Be Interested In


Your email address will not be published. Required fields are marked *