Hut 8 Reports Third Quarter 2024 Results
Hut 8 Mining Corp. - Common Shares (HUT)
Company Research
Source: GlobeNewswire
Earnings Release Highlights Revenue of $43.7 million, net income of $0.9 million, and Adjusted EBITDA of $5.6 millionEnergy cost per MWh of $28.83, a 33% decrease from $42.73 in the prior year periodMined 234 Bitcoin at a weighted average revenue per Bitcoin mined of $61,025, compared to a cost to mine of $31,4829,106 Bitcoin held in reserve with a market value of $576.5 million and total cash of $72.9 million as of September 30, 2024 MIAMI, Nov. 13, 2024 (GLOBE NEWSWIRE) -- Hut 8 Corp. (Nasdaq | TSX: HUT) (“Hut 8” or the “Company”), a leading, vertically integrated operator of large-scale energy infrastructure and one of North America’s largest Bitcoin miners, today announced its financial results for the three and nine months ended September 30, 2024. “This quarter, we executed several strategic initiatives designed to drive topline growth and strengthen our competitive position in both AI and Bitcoin mining," said Asher Genoot, CEO of Hut 8. "Key initiatives—including a
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News
- Hut 8’s Strategic Bitcoin Reserve Surpasses $1 Billion in Market Value with Purchase of $100 Million of BitcoinGlobeNewswire
- Hut 8 Director Amy Wilkinson Named to the 2024 NACD Directorship 100GlobeNewswire
- Hut 8 Corp. (NASDAQ: HUT) had its price target raised by analysts at Needham & Company LLC from $32.00 to $38.00. They now have a "buy" rating on the stock.MarketBeat
- Hut 8 Corp. (NASDAQ: HUT) is now covered by analysts at Piper Sandler. They set an "overweight" rating and a $33.00 price target on the stock.MarketBeat
- Hut 8 Corp. (NASDAQ: HUT) is now covered by analysts at Cantor Fitzgerald. They set an "overweight" rating and a $35.00 price target on the stock.MarketBeat