According to Foresight News, Hut 8, a listed Bitcoin mining company, has released its operational update for April 2024. Amid the backdrop of Bitcoin halving, the Hut 8 team has successfully completed the transition from managed facilities to its own facilities. This move has enabled the company to achieve a self-mining hash rate of 5.5 exahash per second.
After deducting the 50% share held by Hut 8's joint venture partner, King Mountain JV, the net Bitcoin output for April was 115 BTC. This is a decrease compared to the net output of 192 BTC in March. The company's transition to self-owned facilities and the subsequent decrease in Bitcoin output comes in the context of the Bitcoin halving event, a pre-programmed reduction in the rewards miners receive for adding new transactions to the blockchain.