Hut 8 Mining swings to adjusted EBITDA loss in its fiscal Q4

2023-3-10 20:53

Hut 8 Mining reports disappointing results for its fiscal Q4. Digital assets mined this quarter was also down year-on-year. Wall Street currently has a consensus overweight rating on HUT.

Hut 8 Mining Corp (TSE: HUT) is trading down this morning after reporting disappointing results for its fourth financial quarter.

Digital assets mined was also down year-on-year

Digital assets the Toronto-headquartered firm produced in Q4 were 698 versus a much higher 789 in the same quarter last year. In the earnings press release, CFO Shenif Visram said:

We continued to fastidiously manage our finances through the fourth quarter, which allowed us to navigate sustained bitcoin price suppression, fluctuating power prices and increased network difficulty.

The crypto company’s installed hashrate currently sits at about 2.5 EH/s. Wall Street currently has a consensus “overweight” rating on the Hut 8 Mining stock and sees upside in it to $3.38 on average – about a 75% premium on its current price.

Notable figures in Hut 8 Mining’s earnings report Lost C$186.7 million versus the year-ago C$111.2 million Per-share loss also widened from 67 cents to 90 cents Swung to an adjusted EBITDA loss of C$3.9 million Revenue also declined about 62% YoY to C$21.8 million Analysts had forecast a higher C$24.5 million of revenue

Last month, Hut 8 Mining said it will merge with US Bitcoin Corp in an all-stock transaction. According to CEO Jaime Leverton said:

We’ll continue to uphold our operating principles as we work to close business combination with USBTC and begin operating as a US-domiciled, digital asset mining, hosting organisation.

Versus its year-to-date high, Hut 8 Mining stock is now down more than 40%.

The post Hut 8 Mining swings to adjusted EBITDA loss in its fiscal Q4 appeared first on CoinJournal.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

HUT (HUT) на Currencies.ru

$ 0.00029025 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 HUT

hut mining results quarter down disappointing fiscal

Источник: coinjournal.net

hut mining → Результатов: 116


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.

2019-5-7 16:00


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


Фото:

Bitcoin Mining Firm Hut 8 Lays Off More Employees

Hut 8, a Canadian Bitcoin mining firm has laid off more employees, citing poor revenue figures due to the prolonged cryptocurrency bear market of 2018. The Canadian Broadcasting Corporation (CBC) reports that it is the second round of staff cuts, following layoffs earlier in January 2019, as the company reportedly attempts to streamline its operationsRead MoreRead More.

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.

2018-9-26 14:19


Фото:

Mining Round-Up: AMD GPU Sales Decline, Hut 8 Claims to be Largest Miner in Canada

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


Фото:

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.

2018-7-19 17:55


дальше еще 67 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

CME prepares to launch spot Bitcoin trading — FT

CME plans to launch spot Bitcoin trading, challenging Binance's dominance and highlighting Wall Street's crypto interest. The post CME prepares to launch spot Bitcoin trading — FT appeared first on Crypto Briefing.