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TORONTO , Nov. 11 , 2021 / PRNewswire / - Hut 8 Mining Corp. ( Nasdaq :) ( TSX : HUT ) ( " Hut 8 " or the " Company " ) , one of North America's largest , innovation - focused digital assets mining pioneers , supporting open and decentralized systems since 2018 , is pleased to announce its financial results for the quarter ending September 30 , 2021 ( " Q3-2021 " ) . All dollar figures are in Canadian Dollars ( " CAD " ) , unless otherwise stated . " The third quarter of 2021 proved to be another exciting and dynamic step forward for Hut 8 , " commented Shane Downey , Chief Financial Officer of the Company . " We are thrilled to have reported our third consecutive record - breaking quarterly results and to have already surpassed our goal of 5,000 Bitcoin held in reserve . Further , we have achieved an important milestone with final delivery of all 10,000 NVIDIA chips . Throughout early weeks of operation , these cutting - edge GPUs have proven to be highly efficient , mining at a total cost of under $ 3,000 per Bitcoin , delivering margins of approximately 95 % . " HASHRATE UPDATE Hut 8 currently has an installed hashrate of approximately 1.7 EH / s , which includes the converted hashrate from our fleet of NVIDIA GPUs . Our total current and contracted capacity stands at approximately 4.5 EH / s , which includes the converted hashrate from our fleet of NVIDIA GPUs . BITCOIN INVENTORY AND VALUE As of September 30 , 2021 , the Company had a total Bitcoin balance of 4,729 with a market value of $ 263.8 million . Hut 8's Bitcoin balance as of November 10 , 2021 , including 2,000 Bitcoin loaned as part of the Company's fiat yield strategy , is approximately 5,053 Bitcoin , reflecting a market value of approximately $ 430 million . Hut 8 continues to strategically emphasize its " HODL " strategy , taking active steps to generate Canadian and US dollars to help fund operating expenses , so as to avoid selling Bitcoin . During Q3-2021 , 100 % of self - mined Bitcoin was deposited into custody . Q3-2021 HIGHLIGHTS