PANews reported on April 5 that Nasdaq-listed Bitcoin mining company Hut 8 released its March operations update report. Mining output in March was 88 BTC, and Bitcoin reserves increased to 10,264. The deployed hash rate increased by 102% from an average of 4.6 EH/s in February to 9.3 EH/s at the end of March. Hut 8 CEO Asher Genoot said the company has spun off almost all of its ASIC miners to American Bitcoin, an independent mining entity and a (majority-owned) subsidiary of Hut 8, focusing on Bitcoin mining and strategic reserve construction.