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Hut 8’s Q2 Loss Widens to $69M, Continues to Hodl Bitcoin

However, the firm’s mining profit was more than halved to C$14.9 million compared to Q1, due to higher power costs and the decline in the price of bitcoin, the company said. The miner’s cost of mining each bitcoin grew by 44% to C$25,900, around what it was in the second quarter of 2021.