August 29, 2019 Canadian miner Hut8 details varying profitability through Bitcoin’s price swings over the last year.

In Q2 2019, the company estimated a mining cost of $2700 per BTC, down from $4000 in late 2018, and a net profit of $33.7 million. Hut8 cut energy costs by negotiating individual agreements with local electricity grids, including turning off operations during peak consumer hours.