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Benzinga

Business

Anusuya Lahiri

Hut 8 Mining Clocks Revenue Growth Of 346% In Q4

HUT Hut 8 Hut 8 Mining Corp North America

Digital asset miner Hut 8 Mining Corp (NASDAQ:HUT) reported fourth-quarter FY21 revenue growth of 346% year-on-year to C$57.9 million. EPS loss was C$(0.67).
Hut 8 currently has an installed hash rate of 2.0 EH/s, including the converted hash rate from its fleet of NVIDIA GPUs.
As of December 31, Hut 8 had a total Bitcoin balance of 5,518 with a market value of C$323.9 million, including 2,000 Bitcoin loaned as part of the company's fiat yield strategy.
Hut 8 held C$140.1 million in cash and equivalents.
CEO Jaime Leverton said, "In pursuing a diversified strategy, we have differentiated ourselves from our peer group and in doing so, have become the only company in North America to both mine digital assets while building on our traditional infrastructure business to support companies in Web 3.0 and the Metaverse."
Price Action: HUT shares traded higher by 5.18% at $5.48 on the last check Thursday.

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