Investing.com UK - Financial Markets Worldwide
💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

Hut 8 Mining Registers 67% Revenue Growth In Q1

Published 12/05/2022, 16:29
Updated 12/05/2022, 17:11
© Reuters. Hut 8 Mining Registers 67% Revenue Growth In Q1
HUT_t
-

  • Hut 8 Mining Corp (NASDAQ: HUT) (TSX: HUT) reported first-quarter FY22 revenue growth of 67% year-on-year to C$53.3 million. EPS was C$0.31.
  • Hut 8 currently has an installed hash rate of 2.54 EH/s, up 27% from December 31.
  • As of March 31, Hut 8 had a total Bitcoin balance of 6,460 with a market value of C$367.6 million, including 4,460 held in custody and 2,000 held under lending arrangements.
  • Hut 8 held C$78.5 million in cash and equivalents.
  • "We made measurable progress in the first quarter of 2022, significantly advancing our diversification strategy by completing the acquisition of five data centers and cementing our role as the only digital asset mining company that is delivering the high-performance computing infrastructure to support companies in the blockchain and Web 3.0 spaces," said Jaime Leverton, CEO.
  • Price Action: HUT shares traded higher by 4.14% at $2.54 on the last check Thursday.

© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Read the original article on Benzinga

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.