TechFlow news, according to CoinDesk, Bitcoin mining firm Hut 8 Mining reported a decline in Bitcoin production due to higher mining difficulty, operational issues, and partial suspension of operations, resulting in more than double the net loss in the third quarter and a 46% year-on-year decrease in revenue.
The company's third-quarter loss widened from 23.8 million Canadian dollars in the same period last year to 53.6 million Canadian dollars (approximately 39 million U.S. dollars), while sales dropped from 31.7 million U.S. dollars to 17 million Canadian dollars. The amount of Bitcoin mined during the quarter sharply declined from 982 BTC to 330 BTC.
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