Hut 8 Mining Corp., one of North America's largest digital asset mining pioneers and high performance computing infrastructure providers, mined 147 Bitcoin in May 2023 and sold 179 Bitcoin for proceeds totalling $6.8 million. The company holds an unencumbered Bitcoin balance of 9,233 and had an installed ASIC hashrate capacity of 2.6 EH/s at its facilities in Alberta.

However, the remediation progress at its Drumheller site has been slow due to power surges and hardware failures, impairing its hashrate and production. The company is finalizing options to operationalize the approximately 7,000 miners that were previously running in North Bay, Ontario.