07:12 AM EDT, 04/05/2024 (MT Newswires) -- Hut 8 Corp. ( HUT ) , a vertically integrated operator of large-scale energy infrastructure and one of North America's largest Bitcoin miners, was down more than 1% in US premarket after releasing Friday its operations update for March.

"March was another productive month in our post-merger restructuring program," said Hut 8 ( HUT ) CEO Asher Genoot. "We continue to make the changes required for profitable, long-term growth."

As of March, Hut 8 ( HUT ) had 25.5 EH/s total hashrate and 884 MW total energy capacity under management. The company reported 9,102 Bitcoin on balance sheet positions.

Hut 8 ( HUT ) is currently executing its closure of the Drumheller site and is preparing to fully energize miners at the new 63-MW Salt Creek site in April. In preparation for the energization of Salt Creek, Hut 8 ( HUT ) removed all miners hosted at Kearney and Granbury and is relocating them to Salt Creek and Alpha. "Our team relocated efficient miners to Medicine Hat and retired inefficient miners. We expect to see the impact of these changes on our operating efficiency moving forward," Genoot said.

Genoot noted site-level operating responsibilities transitioned to the new owner of Kearney and Granbury and the company continues to transition ownership of all other activities at those sites. "Under our agreement, we expect to continue generating revenue at these sites until the agreement is terminated at the end of April, at which point we are entitled to receive an early termination fee of $13.5 million," he added.

Hut 8 ( HUT ) at last look lost 2% in US pre-market trading on Friday.