07:13 AM EDT, 09/06/2024 (MT Newswires) -- Hut 8 ( HUT ) , a bitcoin miner, on Friday said it produced 87 bitcoin in August, down from 105 in the prior month.

Total hashrate under management was 18.5 EH/s for the month of August, a slight increase from the 18EH/s in July.

"During August, we maintained our focus on low-cost operations and unit economics," said CEO Asher Genoot. "Maximizing returns from our current fleet remains a priority while we continue to plan a thoughtfully structured fleet upgrade to next-generation ASICs. Reactor, our curtailment software, enabled us to mine when profitable and keep energy costs low during what is typically the hottest month of the year."

The company is also advancing commercialization efforts for its 205-megawatt site in the Texas Panhandle.

Hut 8 ( HUT ) was last seen down US$0.06 to US$9.44 in U.S. premarket trade.