
Hut 8 mining firm Hut 8 released an update on Tuesday showing the efficiency of its Bitcoin production as of last month.
In September, the company, which trades on the NASDAQ under the HUT ticker-claims it didn't sell a single Satoshi during that time.
Hut may face further revenue difficulties after the Bitcoin 'halving' in April, which will reduce the rate at which miners earn new BTC in half. While threatening in the short-term, many firms have ramped up production ahead of the halving in anticipation of a Bitcoin bull market, which has historically followed the event every time it occurs.
Hut is now hoping for a merger with USBTC to become Hut 8 Corp, which the firms say will feature 'both Bitcoin and diversified fiat revenue streams', including services like high-performance computing.