Hut 8 Mining stock soars 18% as Bitcoin mining growth continues in August

Shares of Hut 8 Mining (NASDAQ:HUT) surge 18% to a new all-time high as the company said it's mined 326 Bitcoins (BTC-USD) in August, with an average production of 10.5 BTCs per day. This compares to 300 BTCs mined in July; average production of 9.7 BTCs per day. On Thursday, the stock rose 3% in extended hours following the monthly production update. Bitcoin and Ether's upside price momentum could be enhancing HUT's move as other crypto miners such as Marathon Digital ((MARA +3.2%)), HIVE Blockchain ((HVBT +4.5%)), and Bitfarms ((BITF +7.4%)) seem to benefit from the broad crypto rally. As of August 31, the bitcoin miner has a total balance of 4,450 Bitcoins held in reserve. The installation of additional MicroBT 30S machines in August brings Hut 8's installed hash rate to 1.37 EH/s, the company notes. "We remain encouraged that our previously announced strategy of mining the Ethereum network with these CMPs, while