What made Bitcoin mining major Hut 8 shares surge?

What made Bitcoin mining major Hut 8 shares surge?
фото показано с : invezz.com

2024-3-29 12:42

Hut 8 Corp (NASDAQ:HUT) shares surged about 20 percent on Thursday after the Bitcoin mining giant reported an uptick in revenue to $60.6 million for the six-month period ending December 31, 2023.

This was accompanied by a net income of $6.2 million, contrasting sharply with the prior year’s net loss. Adjusted EBITDA witnessed a substantial rise, reaching an impressive $62.3 million.

The reported revenue and net income serve as critical indicators of the company’s ability to generate profits and adeptly manage operations, especially within the volatile cryptocurrency mining domain.

Hut 8 Corp earnings

Key financial metrics from Hut 8’s reports include a 32% revenue uptick and a substantial turnaround to a $6.2 million net income from the prior net loss.

The cost to mine a Bitcoin stood at $18,815, with the company successfully mining 1,244 Bitcoin during the period.

Moreover, Hut 8’s energy cost per MWh registered at $44.52, underscoring its efficiency in energy cost management.

What did Hut 8 CEO CEO Asher Genoot say?

Our results this period underscore the strength and potential of the new Hut 8. Our objective is to sustainably build a profitable, diversified business throughout fiscal year 24. With this objective in mind, we remain committed to driving topline revenue growth and cost reduction across our business.

The robustness of the company’s balance sheet is evident in its Bitcoin holdings, with 9,195 Bitcoin valued at approximately $388.1 million as of December 31, 2023.

This asset reservoir provides Hut 8 with substantial market value and potential for future revenue generation.

The post What made Bitcoin mining major Hut 8 shares surge? appeared first on Invezz

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$ 0.00029025 (+0.00%)
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Изменеия 24h: 0.00 %, 7d: 0.00 %
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hut mining shares bitcoin period ending six-month

Источник: invezz.com

hut mining → Результатов: 126


Фото:

Стала известна себестоимость майнинга BTC в 2018 году

В 2018 году майнинговая компания Hut 8 Mining Corp. добыла 5592 BTC, однако в течение этого периода себестоимость деятельности существенно выросла. Об этом говорится в ее финансовом отчете за прошлый год.

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Компания Hut 8 раскрыла себестоимость майнинга биткоина в 2018 году

Майнинговая компания Hut 8 Mining Corp. опубликовала финансовый отчет за прошлый год, в котором раскрыла данные о росте себестоимости добычи биткоина в каждом квартале. Today we announced our audited financial results for 2018.

2019-5-7 14:20


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Bitcoin Mining Firm Hut 8 Lays Off More Employees

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2019-4-7 15:00


Расход в 10 раз больше города: канадской биткоин-ферме сократят подачу энергии

Базирующаяся в канадском Медисин-Хат биткоин-ферма компании Hut 8 Mining Corp столкнулась с угрозой снижения поставки электричества по причине того, что потребляет в 10 раз больше энергии, чем все население этого города.

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In recent mining news, AMD has reported declining sales of mining hardware during the second quarter of 2018, Hut 8 has claimed to now comprise the largest bitcoin mining company in Canada by operating power following the construction of its second facility, and Chinese authorities have shut down what they have described as “illegal” mining […] The post Mining Round-Up: AMD GPU Sales Decline, Hut 8 Claims to be Largest Miner in Canada appeared first on Bitcoin News.

2018-7-27 03:15


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Bitcoin Mining Firm Opens Massive Farm In Canada Despite Declining Prices

On July 16th, Hut 8, one of Canada‘s foremost Bitcoin mining firms, announced that the construction of its newest mining facility was complete. The press release issued by the company states that its new Bitcoin mining facility, located in the small Canadian city of Medicine Hat, has been recently completed, including the recent electrification of […] The post Bitcoin Mining Firm Opens Massive Farm In Canada Despite Declining Prices appeared first on Ethereum World News.

2018-7-20 00:12


Hut 8 и BitFury открывают новый дата-центр для майнинга биткоина

Компания Hut 8 Mining Corp. объявила о завершении строительства площадки для майнинга биткоина CMH Facility с 40 дата-центрами BlockBox в канадском Медисин-Хат. В роли поставщика решений для сети крупнейших в Северной Америке дата-центров выступил BitFury Group.

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